Massachusetts Supreme Judicial Court clarifies foreclosure requirements: Eaton v. Federal National Mortgage Association *

USA - July 12 2012
In order to exercise the statutory power of sale in Massachusetts, a mortgagee must either be the holder of the underlying promissory note or be acting under the authority of the note holder.

Co-authors: B. Paul Goulet .

Intercreditor issues: impact of select recent decisions on intercreditor rights *

USA - February 6 2012
The explosive growth of mezzanine and other types of subordinate commercial real estate lending during the last two decades was enabled, in part, by the relative standardization of the intercreditor arrangements that governed the rights and obligations of senior and junior lenders.

Co-authors: Katherine A. Burroughs , Jill A. Lavacchia , Jonathan Rini .

IRS clarifies REMIC regulations and provides safe harbor for certain property release transactions *

USA - September 8 2010
The IRS released Revenue Procedure 2010-30 on August 17, 2010 (the “2010 Revenue Procedure”), which elucidates certain REMIC requirements relating to property releases set forth in final U.S. Treasury regulations (the “2009 Regulations”) issued last September.

Co-authors: Joseph B. Heil, Deron L. Green, Michael J. Rufkahr, David M. Linder.