new document provisions

Hide and Seek: Service of Process as a New Loan Provision

By Keith Mullen on September 14th, 2012 Posted in Good Times for Lenders, Remedies, Training, Workout Issues

Lenders are refreshing their mortgage loan documents with provisions based on the “lessons learned” during the recent (continuing?) economic experience. One change is to add a service of process provision. The change is based on this basic lesson learned: when the tough times hit, borrowers and guarantors sometimes are hard to find. A few simply… Continue Reading

Why Do Lenders Disdain Bankruptcy Court? 2 Cases Show “Why” and Offer Lessons

By Keith Mullen on June 13th, 2012 Posted in Good Times for Lenders, Market Trends, Remedies, Tough Times for Lenders

Two recent cases are good examples of “why” secured lenders, who hold liens on real property, correctly view bankruptcy court as a very, very, very bad place. One case has received a lot of attention, including an appeal of the decision and state legislation; and the second bankruptcy ruling was overturned on appeal. The lessons… Continue Reading

MBA Servicing & Tech Conference (Day 2): ‘Lessons Learned’ About Loan Documents – Use of Triggers

By Keith Mullen on May 25th, 2010 Posted in Good Times for Lenders, Market Trends, Tough Times for Lenders, Training

(Blogging from the MBA Servicing & Technology Conference . . . .) (Day One blog) In the midst of the loan defaults, maturity defaults and imminent (coming soon) defaults, lenders and loan servicers are discovering (or uncovering) ways that the loan documents properly (or improperly) address the problems and challenges of the latest recession (or market "down… Continue Reading