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

Recently the IRS corrected a mistake inadvertently created by it in September 2009, when it made changes to the REMIC rules governing changes to CMBS loans.  One result of the 2009 change was that partial releases, expressly contemplated in the CMBS loan document, must pass the “principally secured by real estate” test for qualified mortgages at

As I’ve commented previously, Congress has been contemplating imposing a stiff tax increase on the "carried interest" or a developer’s "promote" in real estate deals; and a long, long list of commercial real estate industry organizations have been fighting to stop the tax increase.

This tax would be a real hardship on commercial real estate, and

Here’s a very, very interesting announcement from the CREF-C.  It covers an important issue in every distressed debt situation: the tax picture of the borrower.

From the CREF-C:

  • "The Senate Committee on Finance has proposed a substitute amendment to the House-passed H.R. 4213, The American Jobs and Closing Tax Loopholes Act, which

 Our friends at Cantrell McCulloch [link to website] bring to our attention a topic that could literally be a “drag” on your collateral: the valuation given to the collateral by the applicable taxing authorities (public and private).

Taxing authorities could be state, county, city, hospital, school, road and other governmental authorities; and also “private&rdquo