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Mortgages › Construction Loans

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Ballard Spahr LLP

CFPB Approves Trial Disclosure Program Waiver Template Application for Construction-to-Permanent Loans

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The CFPB recently approved an application (Application) from the Independent Community Bankers Association (ICBA) for alternative disclosures under the Truth in Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA)...more

Orrick, Herrington & Sutcliffe LLP

CFPB asks for comments on alternative disclosures for construction loans

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On February 27, the CFPB announced it is in the final stages of reviewing an application for alternative mortgage disclosures for construction loans submitted by a trade group representing small U.S. banks. ...more

Pillsbury Winthrop Shaw Pittman LLP

Distressed Real Estate During COVID-19: Mezzanine Loans Behind Construction Loans—Special Considerations and Intercreditor...

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Construction loans with companion mezzanine loans raise a host of concerns that are unique to more standard ICAs between a mortgage lender and a mezzanine lender. An intercreditor agreement (ICA) involving a construction...more

Ballard Spahr LLP

CFPB Publishes TRID Guides on Construction Loans

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Although the 2017 amendments to the TRID rule, often referred to as TRID 2.0, added commentary to TRID provisions of Regulation Z and, particularly, Appendix D to Regulation Z, that addresses multiple advance construction...more

Bradley Arant Boult Cummings LLP

Borrower Can’t Blindly Rely on Lender’s Appraisal, Court Rules

Bradley Arant Boult Cummings LLP on

A June 19, 2018, decision by the North Carolina Court of Appeals will likely make it more difficult for borrowers in the Tar Heel State to sue on the claim that their mortgage originator misled them as to their home’s value....more

Seyfarth Shaw LLP

DC Proposed Regulations Modify Deed of Trust Recording Tax Exemptions

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New regulations proposed by the District of Columbia affect the recordation tax exemptions for purchase money deeds of trust not recorded simultaneously with the deed, deeds of trust recorded to refinance construction loans...more

WilmerHale

Real Estate Finance: Massachusetts

WilmerHale on

A Q&A guide to real estate finance law for borrowers and lenders in Massachusetts. This Q&A addresses state laws relating to security instruments, usury laws, limitations on personal liability, recording requirements and...more

Snell & Wilmer

Equitable Subrogation Part Deux: Mechanic’s Lien vs. Later Bank Deed of Trust

Snell & Wilmer on

This post follows, almost two years to the day, Rick Erickson’s post of August 29, 2014. As noted by Rick Erickson in his August 29, 2014 post, the Arizona Supreme Court in the Weitz case (2014) had determined that equitable...more

Ballard Spahr LLP

CFPB Posts Latest TRID Webinar

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The CFPB updated its regulatory implementation materials to incorporate the recording of its March 1st presentation titled Know Before You Owe Mortgage Disclosure Rule – Construction Lending. The presentation focused on...more

Ballard Spahr LLP

CFPB Staff Presents TRID Rule Webinar

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The Consumer Financial Protection Bureau (CFPB) staff presented an informational webinar on March 1, 2016, to address several issues with the TILA/RESPA Integrated Disclosure (TRID) rule in connection with...more

BakerHostetler

CFPB Releases Guidance on Construction Loan Disclosures

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On January 12, the CFPB released a Construction Loans Fact Sheet reviewing the basics of construction loan disclosures under the TILA/RESPA Integrated Disclosure (“TRID”) Rule. This resource briefly summarizes the TRID...more

Ballard Spahr LLP

CFPB construction loan “fact sheet” falls far short of necessary guidance

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The CFPB has issued what it calls a “fact sheet” regarding the disclosure of construction-to-permanent loans under the TILA/RESPA Integrated Disclosure (TRID) rule, which the CFPB refers to as the Know Before You Owe rule....more

Troutman Pepper

Title Insurance: When Does a Construction Lender “Create” or “Suffer” a Mechanics Lien?

Troutman Pepper on

BB Syndication Services, Inc. v. First American Title Ins. Co., 785 F.3d 825 (7th Cir. 2015) – A construction lender sued a title insurance company seeking defense and indemnification in connection with claims in a...more

Bradley Arant Boult Cummings LLP

Obtaining Title Insurance on Construction Loans: Avoiding Pitfalls Regarding Title Insurance Underwriting for Construction Loans

Bradley Arant Boult Cummings LLP on

Avoiding Pitfalls in Construction Mortgages: Top 5 Tips for Title Insurance Underwriting - Construction mortgages pose significant risks for title insurers and require specific underwriting analysis. Avoid the...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on

Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) Regulations 2015 published - On January 13, 2015, the Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment)...more

Orrick - Finance 20/20

CFPB Finalizes Minor Changes to “Know Before You Owe” Rules

Orrick - Finance 20/20 on

On January 20, CFPB finalized two minor modifications to the “Know Before You Owe” mortgage disclosure rules. The changes, which were proposed in October 2014, address when consumers will receive updated disclosures after...more

Cohen Seglias Pallas Greenhall & Furman PC

New Changes to Pennsylvania Mechanics' Lien Law Take Effect

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On July 9, 2014, Pennsylvania Governor Tom Corbett signed a bill (S.B. 145) into law that amends the Pennsylvania Mechanics’ Lien Law of 1963 (the “Lien Law”). The new law took effect on September 8, 2014 and affects...more

Sheppard Mullin Richter & Hampton LLP

Mechanics Lien Subordination: Illinois Further Limits Construction Lenders’ Ability To Ensure Priority Against Mechanics Liens

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On July 16, 2014, Illinois enacted Public Act 98-764 (Senate Bill 3023) (“SB 3023”), which amends the Illinois Mechanics Lien Act (770 ILCS 60/ et seq.) (the “Act”) to prohibit subordination of mechanics liens on Illinois...more

Troutman Pepper

Post-Petition Interest: Not Very Predictable

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A senior mortgagee battled the debtor and a junior mortgagee over its entitlement to post-petition interest: If and when did it become oversecured and thus entitled to interest? Was it entitled to interest at the default...more

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