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Jones Day

New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

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On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents....more

Miles & Stockbridge P.C.

Fannie Mae Updates Multifamily Loan Documents

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Fannie Mae recently announced updates to its Multifamily Loan Documents with Lender Letter (25-04). Since that time, Fannie Mae released a revised Lender Letter (25-04R) that changed the mandatory date for use of the loan...more

Stark & Stark

A Day Late and a Dollar Short: A Mortgagee’s Obligations and Best Practices Upon Receipt of Short Loan Payoff Funds

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In the ever-evolving world of mortgage lending, a scenario often arises where a borrower refinances their existing mortgage with a new lender, but the payoff funds tendered by the new lender are less than the full amount...more

Freiberger Haber LLP

First Department Reminds Practitioners that “proofreading is an essential, indispensable tool in the drafting of contracts”

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It should go without saying that people make mistakes. After all, people are human, and humans make mistakes. When people draft a document, especially a lengthy or complex one, it is not uncommon for a mistake to be...more

Stark & Stark

Commercial Foreclosures in Pennsylvania: How Deal Formation Impacts Litigation

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The fact that commercial transactions can very easily become complex is not a novel statement. When financial institutions lend money to commercial entities, the basic documentation required to evidence the loan, promise to...more

Goodwin

Cash Management in Hotel Financing

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The financing of hotels and resorts requires balancing the borrower’s need for flexibility to successfully operate the hotel against the lender’s desire to prevent cash leakage should conditions related to the borrower’s...more

Cadwalader, Wickersham & Taft LLP

No Celebrations March 2022 - Understanding Future Advance Conditions

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While some commercial real estate loans are fully funded at loan closing, others are funded in whole or in part through future advances. Some loans provide for future advances to fund tenant improvement work and leasing...more

Miller Canfield

Practice Pointer: When Should You Send Default and Demand Letters?

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In a prior practice pointer, we discussed the importance of reservation of rights letters. However, there are times when a lender will want to start enforcing one or more rights or remedies....more

BCLP

Promoting Corporate Social Responsibility Through Lending

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Financial institutions continue to develop products to encourage Corporate Social Responsibility (CSR) goals. The Loan Market Association has recently published Sustainability Linked Loan Principles to guide the use of loan...more

Bilzin Sumberg

Considerations For Lenders in Workouts & Loan Restructurings

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Despite the improvement in the economy since the advent of the “Great Recession,” many businesses nevertheless continue to struggle. Accordingly, lenders are well advised to stay up to date on  “best practices” when facing a...more

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