Credit seems to be more available for commercial real estate. For example, I know of one commercial real estate lender working on a construction to permanent loan program. This type of lending blends two types of loans: a construction loan to build the project and a term loan to finance it once the project
In earlier postings, we’ve covered:
- Verifying title insurance
- The need to review the terms & scope of the title insurance (2nd in a series; another posting)
- Some of the title insurance issues when doing a deed in lieu of foreclosure
These are all good steps.
But they overlook an equally important step:…
The second nugget (below) is much more practical. Inspired by comments made by Jim Allen during a panel presentation (he’s with the Miller…
Last Tuesday (Feb 2), the ALTA Board of Governors met to review and discuss the creditor rights issue in light of various recent court rulings.
The outcome is no surprise: they voted (unanimously) to withdraw and de-certify the ALTA 21 endorsement (commonly referred to as creditors’ rights coverage). This change will be effective on March…
For the next couple of days, I’ll be attending the annual meeting of the American College of Mortgage Attorneys (ACMA). Members of ACMA are a select group of in-house and outside counsel, who are recognized as leaders in commercial real estate finance.
OK, I know: You’re rolling your eyes as your internal big screen pans a view of a room full of (ego laden?) lawyers, sitting in your basic seminar setup, listening to speakers (most by now are far enough up the tech curve to use PowerPoint), and discussing . . . .
Here’s where you should wake up to the relevance of it all: What are the topics that the legal thought-leaders are focusing on? What has their attention?
I’ll admit that some (most?) events like this are grueling for me, but simply because I can’t sit still for a stretch of 8 hours. The content, however, keeps my attention. And because I think that it might interest you, below is a summary of several of the topics.
A reminder for you: If you want more information on distressed debt & investments, go to the "Client Resources" tab on our blog homepage. It contains instructions on how you can access our extranet site, where we have posted 60+ papers, articles and presentations for you to read, download, etc. It is free. It is available 24/7.
This is the second part of a two-part series laying out a quick checklist covering title insurance issues—and highlighting topics that should be investigated. This is an important and often overlooked topic.
- Was UCC insurance obtained (covering attachment, perfection and priority of lender’s security interest in personal property)? Here are the types of
No surprise at this statement: When the real estate mortgage nears the ditch, the lien priority of the loan and the status of the title (such as easements, deed restrictions, access rights and lien priority) all come under scrutiny.
One important point of inquiry is the title policy covering the loan. An “audit” or review…