Distressed Real Estate During COVID-19: The Role of Intercreditor Agreements between Mortgage Lenders and Mezzanine Lenders
By EsqSocial Corporation 20/10/20
Mortgage lenders and mezzanine lenders considering amendments to loan documents, forbearance, loan transfers, the exercise of remedies or deeds in lieu of foreclosure, and other loan-related fact patterns will need to revisit and comply with the provisions of their respective ICAs. The current distressed real estate environment will put many of these arrangements to the test. ICAs allow for the existence of subordinate financing by defining the key features of the relationship between mortgage...
By: Pillsbury Winthrop Shaw Pittman LLP