News & Analysis as of August 1, 2025

Forbearance Agreements

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Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -

Workouts That Work: Strategic Alternatives to Foreclosure

Shipman & Goodwin LLP on 5/2/2025

Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more

Understanding Workout Agreements for Commercial Real Estate Loans in Default

Tonkon Torp LLP on 7/25/2024

When commercial real estate loans go into default, workouts are often pursued to resolve the default by agreement. What are the common forms of workout agreements? For commercial real estate borrowers in default, it’s...more

New CFPB Rules Set Out Mortgage Servicer Requirements in Response to End of COVID-19 Foreclosure Moratorium

Snell & Wilmer on 10/5/2021

The Consumer Financial Protection Bureau (“CFPB”) announced post-COVID-19 mortgage servicing rules that went into effect August 31, 2021 (“Rules”). The Rules are designed to protect borrowers from “avoidable foreclosures” and...more

REMIC Relief for COVID-19 Related Modifications and Forbearance

Stinson LLP on 4/24/2020

The Coronavirus Aid, Relief and Economic Security Act allows certain borrowers with federally backed mortgage loans and certain multifamily borrowers with federally backed mortgage loans that are experiencing a financial...more

COVID-19 Update: IRS Issues Securitization Guidance on Coronavirus-Related Forbearances

Cadwalader, Wickersham & Taft LLP on 4/17/2020

On April 13, 2020, the Internal Revenue Service issued a helpful revenue procedure that permits loans that are subject to certain forbearances and related modifications as a result of the COVID-19 pandemic to be contributed...more

CARES Act Provisions Affecting Bankruptcy And Residential Mortgage Loans

Rosenberg Martin Greenberg LLP on 3/31/2020

The Coronavirus Aid, Relief and Economic Security Act (“CARES”) enacted on March 27, 2020 contains a number of provisions affecting bankruptcy cases, modification and enforcement of federally backed residential mortgage...more

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