(More on the Collection Plate collection, which focuses on the recovery side of our work – the bottom line, nitty-gritty, work of getting "back" the money.)

Our economic eddy is at the stage where law suits against guarantors or indemnitors, on full payment and performance agreements or on "bad-boy" agreements, are reaching final judgment –

Standard & Poor’s summary of the CMBS delinquency rate for February is now out.  S&P reports a delinquency rate for lodging at over 14%.

Actually, the rate in February decreased from 14.36% in January to 14.06%.

But still over 14%.  Nothing magically in the "14" for me, except this: that’s a LARGE number.

So, this

Thankfully, the economy might no longer be trending downward. However, we’re still in a rough patch. One rough area is the lodging industry. As always, the “best” hotels (by location, flag, price point, etc.) are doing better than their competition. But stories like this – “61 Bay Area Hotels in Default” (4thQ 2010) – point to the

The second day of seminars, at the annual meeting of the American College of Mortgage Attorneys, had two key take-aways for me.  The first nugget focuses on the Dodd-Frank financial law.

The second nugget (below) is much more practical.  Inspired by comments made by Jim Allen during a panel presentation (he’s with the Miller

Once a month, our regular group of authors discuss topics that we view as being of interest (the "hot" topics) in the commercial loan workout arena.  We then hash out a list of what we’ll write on for the next month.

Identifying "hot" workout topics can be a dangerous thing for lawyers.   Yes, we –

  • are active in

Real estate financing in recent times has generally involved non-recourse loans. While this is virtually a given in a conduit loan situation – the regular portfolio lenders often found it necessary to offer non-recourse loans to compete. A corollary to this basic market term, is the recourse carve-out – circumstances which trigger an exception to