With the “housing collapse” and the ensuing “foreclosure crisis” behind us, it is time to assess the myriad changes in the law of mortgage lending and foreclosure enacted in response to the crisis.
Federal and state lawmakers have responded to the foreclosure crisis with a number of new laws and regulations governing the loan modification and foreclosure process.
In a nonrecourse loan, a lender fundamentally agrees to limit its recourse to specified assets rather than to the general assets of the borrower or the guarantors.
Construction and permanent financing of development projects on leased land can pose unique challenges for lenders.