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
This article is a brief refresher on the basics of New York’s one-action rule. Following an event of default, typical commercial real estate loan documents give the lender the right to pursue alternative remedies...more
California's one action rule and anti-deficiency protections, together with the related fair value limitations, are procedural rules with substantive effects that establish limitations on the manner of enforcing rights and...more
Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more
California’s one-action rule provides that “[t]here can be but one form of action for the recovery of any debt or the enforcement of any right secured by mortgage upon real property or an estate for years therein . . . .”...more
Late last year, the New York Supreme Court decided 172 Madison (NY) LLC v. NMP Grp., LLC, in which it examined New York’s one-action rule, a complex and often misunderstood rule that can have huge implications for lenders...more
In this issue: - Supply Chain Finance as the "New Normal" - Consumer Financial Protection Bureau Implements Regulations for Covered Mortgage Loans - Arbitration Guidelines - Navigating Foreclosure...more