Jeffrey B Steiner

November 15, 2022 | New York Law Journal

While mortgage lenders have long worried that a bankruptcy filing by their borrower could prevent or delay a foreclosure action, should they now also worry that a bankruptcy filing by a tenant at the property will have the same impact? A recent Second Circuit Court of Appeals decision seems to say yes. In their Real Estate Financing column, Jeff Steiner and Tim Swearingen discuss the case "Bayview Loan Servicing LLC v. Fogarty."

By Jeffrey B. Steiner and Tim Swearingen

6 minute read

September 20, 2022 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss the many considerations at play (and several negotiated provisions involved) in standard completion guaranties.

By Jeffrey B. Steiner and David Broderick

6 minute read

July 19, 2022 | New York Law Journal

In raising a statute of limitations defense, a question may arise as to when the lender accelerated the loan, which begins the running of the six-year statutory period. Courts have held that the lender must take an "unequivocal overt act" and deliver a notice to the borrower expressly accelerating the loan. This article discusses several cases which have addressed the issue of what constitutes an unequivocal notice.

By Jeffrey B. Steiner and Megan Vallerie

6 minute read

March 15, 2022 | New York Law Journal

In real estate transactions, any document intended to be recorded needs to be notarized. Until recently, in most jurisdictions that meant the signer and notary had to be physically present together. In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg discuss a recent statutory change in New York permitting Remote Online Notarization (RON) that will now allow the parties to be in separate states, or even countries.

By Jeffrey B. Steiner and Scott A. Weinberg

5 minute read

January 18, 2022 | New York Law Journal

Until now, no New York court has directly ruled on whether an accommodation pledge is void for violating the equity of redemption. A recent decision issued by the New York State Supreme Court, County of New York, Atlas Brookview Mezzanine v. DB Brookview, however, has directly addressed the issue.

By Jeffrey B. Steiner and Scott A. Weinberg

5 minute read

September 14, 2021 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg discuss the status of law relating to acceleration and the statute of limitations amid foreclosure actions as clarified in the recent New York's Court of Appeals case 'Freedom Mortgage Corporation v. Engel.'

By Jeffrey B. Steiner and Scott A. Weinberg

6 minute read

May 18, 2021 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick discuss several topics that lenders should consider when making loans to mortgage borrowers that are indirectly funded using crowdfunded equity.

By Jeffrey B. Steiner and David Broderick

5 minute read

March 16, 2021 | New York Law Journal

One recent decision issued by New York's Appellate Division, Second Department, though favorable to the senior mortgage lender, highlights the consequences that may result should a lender fail to exercise caution when modifying their mortgage loans. In their Real Estate Financing column, Jeffrey Steiner and Scott Weinberg discuss the decision in "Commodore Factors Corp. v. Deutsche Bank Natl. Trust Co."

By Jeffrey B. Steiner and Scott A. Weinberg

7 minute read

November 17, 2020 | New York Law Journal

When a lender purchases a loan originated by another lender, such purchasing lender will require the selling lender to deliver the original loan documents; but what happens if some of the original documents cannot be found?

By Jeffrey B. Steiner and Scott A. Weinberg

7 minute read

September 15, 2020 | New York Law Journal

In their Real Estate Financing column, Jeffrey Steiner and David Broderick write: As the COVID-19 pandemic continues to wreak havoc on the real estate industry, and as the initial lender reaction of accommodation to borrowers has mostly continued, there has been a shift from loan modifications to defaulted loan forbearance arrangements, together with a very public increase in mezzanine-lender enforcement actions, as evidenced by the public advertisements of notices of sale.

By Jeffrey B. Steiner and David Broderick

6 minute read