Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
If you are a mortgage lender who followed the recommendations in the first two articles in this series, then you have performed due diligence on your mortgage portfolio and have taken note of the many options that are...more
In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more
Finding a suitable location for a cannabis retail store is not easy, especially in New York City, where quality retail locations are scarce and expensive, and regulations are more robust than most other municipalities....more
In a case litigated in the New York Supreme Court, the Court recently ruled that a private equity firm that acquired a mortgage loan made on the Maxwell Hotel in New York does not have the authority necessary to convert...more
Over the course of my career, I have had the privilege of working with and representing numerous construction lenders (and borrowers/developers) in the financing of some of the largest commercial projects in the United...more
In recent years, the claim that an accommodation pledge attached to a mortgage loan effectively “clogs” a borrower’s right of redemption has been the basis of numerous civil actions in New York courts. With the case of Atlas...more
In Soaring Pine Capital Real Estate & Debt Fund II, LLC v. Park Street Group Realty Services, LLC, the Michigan Supreme Court considered whether a court may enforce a usury savings clause in a mortgage agreement. A usury...more
As interest rates rise, borrowers may find themselves in default, facing lenders who overreach by seeking to recover default interest in addition to regular interest on the principal of the loan. Borrowers may have a weapon...more
In early March 2023, the Consumer Financial Protection Bureau (CFPB) issued a special edition of its Supervisory Highlights that focused exclusively on “junk fees” uncovered in supervisory examinations in various industries,...more
As mortgage loan transactions continue to become increasingly complex, lenders often worry about the remedies they have if borrowers fail to live up to their obligations. In the event of a default, lenders have the choice...more
The development of real estate projects, including hotels and master planned communities in Los Cabos and other places in Mexico, commonly requires financing by banks and other institutional lenders. This article presents an...more
On 11 September, the Spanish Supreme Court, in a plenary meeting, has issued ruling number 463/2019, stating its criteria on the effects of nullity of early termination clauses included in consumer mortgage loan agreements....more
On March 18, 2019, Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York issued a decision enforcing a mortgage lender’s claim for a prepayment premium (a/k/a make-whole or...more
Bass, Berry & Sims attorney Chris Lazarini examined a case in which a mortgage company sued a bank under the indemnity clause of the parties loan purchase agreement. The bank sought dismissal on statute of limitations...more
There is a growing tendency in recent years for borrowers in Spain to file claims alleging that certain provisions included in their mortgage loans are abusive or unfair. In addition, there is a very strong trend in Spanish...more
On August 21, 2015, the Sixth Circuit issued its widely anticipated decision in Hill v. Homeward Residential, Inc., No. 14-4168 (6th Cir. August 21, 2015), which affirmed a jury verdict that found Homeward Residential, Inc....more