IRS Guidance on Modifications of Commercial Mortgage Loans: False Hope or New Start? MP3

    By Thomas J Biafore and William G Rothschild

    IRS Guidance on Modifications of Commercial Mortgage Loans: False Hope or New Start? MP3

    IRS Guidance on Modifications of Commercial Mortgage Loans: False Hope or New Start? MP3

    By Thomas J Biafore and William G Rothschild

    In September of 2009, the Treasury issued updated regulations applicable to Real Estate Mortgage Investment Conduits (REMICs), and the IRS issued Revenue Procedure 2009-45, to provide long awaited guidance on the modification of loans held by REMICs. The changes in the loan modification rules were in response to outcries from ...
    $119
    NON-MEMBERS
    $99
    MEMBERS
    $79
    SECTION MEMBERS
    *Additional discounts may apply at checkout

    Log In to view your rate

    In September of 2009, the Treasury issued updated regulations applicable to Real Estate Mortgage Investment Conduits (REMICs), and the IRS issued Revenue Procedure 2009-45, to provide long awaited guidance on the modification of loans held by REMICs. The changes in the loan modification rules were in response to outcries from borrowers and lenders that the current rules were too inflexible and had not kept pace with the realities of commercial mortgage financing. But, will these changes actually deliver the intended benefits to borrowers and lenders? The program will discuss the practical effect of the Revenue Procedure and Regulations on borrowers, lenders and loan servicers. Does the new guidance on the modification of commercial mortgage loans give borrowers, lenders and servicers the answers they were looking for, or does it generate more questions than answers?
    • What role did the perceived inflexibility of the REMIC rules play in the credit freeze?
    • What impact will the change to the loan modification rules have on borrower requests for loan modifications?
    • Will lenders and servicers be more flexible and proactive dealing with borrowers of defaulted or potentially defaulting loans?
    • Which parties (borrower, lenders or servicers) will benefit from the changes brought about by the new guidance?
    • What unintended (and potentially serious) consequences do the new Regulations pose for borrowers and lenders?
    • Will borrowers of performing, non-troubled loans enjoy greater flexibility for modifications?
    Our speakers are attorneys experienced with tax and servicing issues related to REMICs and CMBS structures.

    Product Details

    Authors

    Thomas J Biafore, William G Rothschild

    Sponsors

    Section of Real Property, Trust and Estate Law

    Product Code

    5430525MP3

    Publication Date

    4/1/2010 12:00:00 AM

    Related On-Demand CLE

    Related Events