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Ten Commandments for a Successful Loan Workout
While we obviously have had our fill of difficult economic news during the past few years, all signs point to more challenges ahead. Specifically, there are indications that commercial real estate loans are on increasingly shaky ground. A new study from Real Capital Analytics shows that in the first quarter of 2010 the default rate for commercial mortgages held by banks hit its highest level in 18 years ' and is expected to keep rising for at least another year. See www.reuters.com/article/idUSN2426910920100524?type=marketsNews.
Before long, businesses of all sizes will find themselves having difficult discussions with their lenders regarding loans in default or which will be maturing and for which the real estate and other collateral provide questionable value as security. While businesses obviously need to work diligently to avoid these circumstances, they also need to prepare for the worst. With that in mind, here are 10 Commandments for a Successful Loan Workout:
1) Build Credibility ' While every lending relationship is based on trust, when you are in or about to be in default with your bank, trust plays an even greater role in the future of your business's finances. If your lender does not trust you, the process of working out your loan will be greatly extended, more time-intensive, and will have less likelihood of success. Building credibility from the first contact with your lender regarding your now “troubled” loan (or even better yet, during your entire lending relationship, particularly if your loan officer is the one that handles your workout) will make the process quicker, less adversarial, and less time intensive, and will significantly increase your likelihood of success.
Yachts, Jets, Horses & Hooch: Specialized Commercial Leasing Models
Defining commercial real estate asset class is essentially a property explaining how it identifies — not necessarily what its original intention was or what others think it ought to be. This article discusses, from a general issue-spot and contextual analysis perspective, how lawyers ought to think about specialized leasing formats and the regulatory backdrops that may inform what the documentation needs to contain for compliance purposes.
Hyperlinked Documents: The Latest e-Discovery Challenge
As courts and discovery experts debate whether hyperlinked content should be treated the same as traditional attachments, legal practitioners are grappling with the technical and legal complexities of collecting, analyzing and reviewing these documents in real-world cases.
Identifying Your Practice's Differentiator
How to Convey Your Merits In a Way That Earns Trust, Clients and Distinctions Just as no two individuals have the exact same face, no two lawyers practice in their respective fields or serve clients in the exact same way. Think of this as a "Unique Value Proposition." Internal consideration about what you uniquely bring to your clients, colleagues, firm and industry can provide untold benefits for your law practice.
Risks and Ad Fraud Protection In Digital Advertising
The ever-evolving digital marketing landscape, coupled with the industry-wide adoption of programmatic advertising, poses a significant threat to the effectiveness and integrity of digital advertising campaigns. This article explores various risks to digital advertising from pixel stuffing and ad stacking to domain spoofing and bots. It will also explore what should be done to ensure ad fraud protection and improve effectiveness.
Turning Business Development Plans Into Reality
This article offers practical insights and best practices to navigate the path from roadmap to rainmaking, ensuring your business development efforts are not just sporadic bursts of activity, but an integrated part of your daily success.