RPTE eReport | December 2012
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  • A Bi-Monthly Electronic Publication for Section Members
  • December 2012

Group and Committee News

Real Estate Financing Group

Mortgage Lending Committee
The Mortgage Lending Committee has expanded its areas of coverage this bar year to now include topics addressed historically by the former Construction Lending Committee and the former Securitization and Special Financing Techniques Committee. The Committee continues to be active in various forms of mortgage lending, including mortgage servicing, workouts, distressed assets, and banking regulations. On March 19, 2013, Committee Chair, James Wilson will be participating in an eCLE Fundamentals of Commercial Real Estate program, presenting as to Commercial Real Estate Financing in a program being co-sponsored with the ABA Young Lawyers Division. The Committee is also supporting a CLE program at the 24th Annual RPTE Symposia to be held in May, 2013. New Committee Vice Chair, Anna Mahaney, is taking a lead in this program, which will address agency lending with a focus on changes in the Freddie Mac and Fannie Mae multifamily loan document forms, particularly with respect to the scope of guarantor liability and transfer restrictions. The program is jointly sponsored with the Residential, Multi-Family, and Special Use Group of the Real Property Section. Please watch for upcoming Committee conference calls on relevant topics. For more information regarding the activities of this Group, contact Chair Jim Wilson at JmWilson@wcsr.com.

Workouts, Foreclosures and Bankruptcy Committee
This Committee continues in its mission to complete an updated version of the ABA’s publication covering foreclosure and related remedies in the 50 states. At this time, 30 of the state chapters have been updated and are available for online purchase, with the additional 20 chapters expected to be available soon. Over the past year, this Committee was actively involved in the planning and presentation of programs in 2012, including via an eCLE presentation that was held on February 15, 2012 regarding deeds in lieu of foreclosure. The speaker was George A. Kurlyandchik, who addressed deed in lieu issues at the 2010 Spring Symposia and Dianne Coscarelli, the author of an award-winning article in the Probate & Property magazine titled “The Deed in Lieu of Foreclosure: 10 Questions for Lender’s Counsel.” The Committee is also in the process of planning regular conference calls over the next year for participation by the membership covering topics of interest in the loan workout and enforcement and bankruptcy arena. The Committee welcomes newly appointed Vice Chair, David L. Campbell. Those interested in being more involved in or finding out more about this Committee should contact Chair John Trott at jtrott@coxcastle.com.

Legal Opinions in Real Estate Transactions Committee
For the last several years, one of the Committee's projects has been to prepare a report on third party legal opinions given and received in real estate secured transactions. We are pleased to announce that the Committee along with the American College of Real Estate Lawyers (ACREL), Attorneys’ Opinions Committee, and the American College of Mortgage Attorneys (ACMA), Opinions Committee have completed and released the Real Estate Finance Opinion Report of 2012. This Report is published in the Winter 2012 issue of the Real Property, Trust and Estate Law Journal at 47 REAL PROP. TR. & EST. J. 213 (2012). The valuable contributions of Committee members in preparing and commenting on this Report are most appreciated. Members of the drafting committee of the Report will present a program on the Report entitled “You Want WHAT Opinions from Us? A Look at the Real Estate Finance Opinion Report of 2012” on Thursday, May 2, 2013 at the RPTE Symposia in Washington, D.C. The Report is written with the focus on the borrower’s only law firm or its lead law firm in a mortgage loan transaction, and not for local counsel. The next project of the Committee will be about local counsel opinions. Please watch for upcoming communications and conference calls as the Committee initiates this next project. For further information regarding the activities of this Committee, contact Chair Ed Levin at elevin@gfrlaw.com.

To learn more about the Real Estate Financing Group of Committees, contact Group Chair, Dianne Coscarelli at Dianne.Coscarelli@thompsonhine.com, or Group Vice Chair, Ed Levin at elevin@gfrlaw.com.