HVCRE: The Continuing Saga of Lenders
A recent case out of Georgia involved a contractor's licensing failure voiding the construction loan that was financing the project. However, there was a twist....well, several twists—a contractor who was also a lender, an...more
When negotiating construction contracts, attorneys often focus on the American Institute of Architects (AIA) A201-2017 General Conditions, a widely used standard in the industry. However, construction loan agreements, drafted...more
Numerous reports have documented the softening condominium market in New York and other large cities resulting from the excess capacity of expensive units. The softening could lead to developers not meeting their repayment...more
In a recent Arizona Court of Appeals case, Helvetica Servicing, Inc., v. Pasquan, 2019 WL 3820015, (8/15/19), the Court of Appeals addressed the distinction between (1) a construction loan (or refinance of same) and (2) a...more
In This Issue: - Construction Contract Claims Against a Third-Party Lender? The Unforeseen Consequences of a Standard Practice: For those of us who commonly represent lenders, there is nothing more unsettling...more
Lenders and contractors may want to take additional precautions before they take title to a newly constructed home through foreclosure (or deed in lieu of foreclosure) following a recent decision by the Colorado Supreme...more
Construction loans typically do not get refinanced before a project is completed. A construction loan is short-term in nature and both the lender and its customer expect that they will stay on the project until the project is...more