Special Servicers and Defaulted CMBS Loans: Navigating Regulatory and Contractual Challenges
Restructuring or Foreclosing Distressed Assets to Maximize Recovery for Investors
Recording of a 90-minute premium CLE webinar with Q&A
This CLE course will guide counsel on the role of special servicers in resolving and maximizing the recovery of troubled CMBS assets. The panel will explain best practices during loan restructuring and foreclosure while ensuring compliance with REMIC regulations and other standards.
Duties and responsibilities of the special servicer under pooling and servicing agreements
- Manage loan documentation
- Negotiate restructuring of mortgage loan and security documents
- Initiate foreclosure action and appoint receiver
- Enforce deficiency judgment
Compliance with the servicing standard and any REMIC rules and restrictions
- Impact on flexibility to make significant modifications
- Remedies available on post-default
- Management and disposition of REO properties
- Best practices for counsel to special servicers in the current real estate market
The panel will review these and other key questions:
- What are the specific and complex rules that special servicers face when resolving defaulted CMBS loans?
- What areas do special servicers and their counsel need to be on the lookout for in CMBS loan documentation?
- What are some best practices for special servicers and their counsel with defaulted loans at stages of intake, demand, restructure, receivership and foreclosure?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Joseph E. Lubinski
Mr. Lubinski is a Senior Associate in the firm’s Real Estate Department. His multifaceted practice includes... | Read More
Mr. Lubinski is a Senior Associate in the firm’s Real Estate Department. His multifaceted practice includes experience with virtually all aspects of real estate transactions, including project financing, acquisitions, development, dispositions, and loan workouts, representation of special servicers, and foreclosures. He frequently writes and speaks on topics within his expertise including real estate finance and distressed real estate.Close
Patrick E. Mears
Barnes & Thornburg
Mr. Mears is Chair of the firm's Finance, Insolvency and Restructuring Department and Co-Chair of the... | Read More
Mr. Mears is Chair of the firm's Finance, Insolvency and Restructuring Department and Co-Chair of the firm's New York Law Practice Group. He concentrates his practice in insolvency, workouts and restructurings, commercial finance, securitizations, and creditors’ rights. He represents financial institutions as individual creditors and as members of loan syndicates in matters throughout the country.Close
Will S. Becker
Mr. Becker focuses his practice on federal income tax matters, Texas margin tax and sales and use tax matters, with an... | Read More
Mr. Becker focuses his practice on federal income tax matters, Texas margin tax and sales and use tax matters, with an emphasis on real estate, asset securitization, M&A and corporate spin-offs and split-offs. He analyzes such tax matters and their impact on corporations, S-corps, partnerships, limited liability companies, REITs, real estate mortgage investment conduits, hedging transactions and other derivatives.Close