pre-negotiation letter

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

Tips on Negotiation Agreements: What Information Should You Want?

By Keith Mullen on September 29th, 2011 Posted in Tough Times for Lenders, Training

Information. Information. Information. Lenders and servicers want it (they already are stuck with the "location, location, location"). Borrowers in distress might not want to furnish it. What is a lender or servicer to do? How can they get it? Answer: include delivery of the information as part of the discussion or negotiation letter. Here is… Continue Reading

Tip On E-Mail Communications: Always Refer To Your Discussion Agreement

By Keith Mullen on April 21st, 2010 Posted in Tough Times for Lenders, Training, Workout Issues

In earlier postings, I’ve given you guidance on oral communication with the borrower and guarantor during a workout, or as you exercise remedies. And I’ve stressed the importance of signing a discussion or pre-negotiation letter, which is a MUST DO in the workout or remedy process. Here’s another important tip: as you communicate via e-mail (or by… Continue Reading