Compliance

Exorcising Hobgoblins: Removing Antiquated Clauses from Loan Documents

By |2024-10-28T16:30:05-05:00August 7th, 2024|Compliance, Legal|0 Comments

Many of these clauses, cobbled together over decades or more, contain antiquated clauses that no longer serve their intended purpose. So that you don’t have to Google it, a hobgoblin is a mischievous imp (or sprite); a small, ugly creature that causes trouble. Something that causes fear (like a boogeyman). Embarrassingly, legal documents are replete [...]

By |2024-10-28T16:30:05-05:00August 7th, 2024|Compliance, Legal|0 Comments

Mastering Back-Office Operations in Private Equity

By |2024-06-03T09:34:28-05:00June 12th, 2024|Operations|0 Comments

Implementing streamlined processes, leveraging technology, and prioritizing transparent communication elevate back-office operations to more efficiently and accurately serve a firm’s needs. In the fast-paced world of private lending, effective back-office administration is the backbone of a successful operation. For a private lender catering to diverse clients, mastering day-to-day tasks is crucial for sustained growth and [...]

By |2024-06-03T09:34:28-05:00June 12th, 2024|Operations|0 Comments

Comp Selection: Compliant Does Not Mean Good!

By |2024-04-15T12:22:15-05:00April 17th, 2024|Operations|0 Comments

If you’re using a traditional valuation product that relies on a subjective selection of three comparables, developing a quality control process that can help you better navigate the risk is worth the investment. Managing risk is a critical part of private lending. In this vein, it’s important to remember that compliant does not mean good. [...]

By |2024-04-15T12:22:15-05:00April 17th, 2024|Operations|0 Comments

Putting Business Process Automation to Work for You

By |2024-01-30T10:18:36-06:00February 7th, 2024|Operations, Servicing|0 Comments

Business process automation (BPA) can help businesses streamline their operations, enhance efficiency, and reduce human intervention in repetitive tasks. But which parts of your business should you automate—and how? rivate lenders deal with complex processes ranging from loan origination, underwriting, risk assessment, and document management to compliance and security. Despite the complexities of the industry, [...]

By |2024-01-30T10:18:36-06:00February 7th, 2024|Operations, Servicing|0 Comments

What to Do When Borrowers Fail to Comply with Insurance Requirements

By |2023-11-27T13:51:48-06:00November 29th, 2023|Operations|0 Comments

Force-placed insurance is a common solution, but there’s a better approach. To secure a loan, borrowers must have insurance to cover the property. If a borrower does not obtain insurance, lets their insurance lapse, or their coverage is terminated, the lender usually has the right to get insurance to cover the property. This insurance is [...]

By |2023-11-27T13:51:48-06:00November 29th, 2023|Operations|0 Comments

Navigating Borrower Background Checks

By |2023-11-03T08:58:24-05:00July 9th, 2023|Ethics, Fees, Loan Terms|0 Comments

By understanding and addressing background check best practices, lenders can navigate the process effectively, make informed lending decisions, and maintain compliance with applicable laws. Background checks can be an important tool in business-purpose lending, providing lenders with critical information to make informed decisions about a borrower’s creditworthiness and character. These checks help lenders evaluate various [...]

By |2023-11-03T08:58:24-05:00July 9th, 2023|Ethics, Fees, Loan Terms|0 Comments

Legal Considerations When Structuring Multi-Lender Loans

By |2023-04-04T15:26:02-05:00March 22nd, 2023|Featured, Operations|0 Comments

Co-lenders can avoid wasting time and money by discussing these six areas with their co-lenders and their counsel. When a loan will be made by more than one lender, an additional level of analysis is necessary. Multi-lender deals have more than just financial considerations. You must consider allocation of amounts to fund, securities compliance, and [...]

By |2023-04-04T15:26:02-05:00March 22nd, 2023|Featured, Operations|0 Comments

Mortgage Lender Licensing—What You Need to Know

By |2022-06-08T12:22:02-05:00April 24th, 2022|Compliance|0 Comments

This is your 2022 update on state-by-state requirements to transact a business purpose, private loan. What is probably most surprising about needing a mortgage license to transact business purpose loans is private lender perception. Private lenders who make loans in states that require a license generally assume all states require a license. Similarly, private lenders [...]

By |2022-06-08T12:22:02-05:00April 24th, 2022|Compliance|0 Comments

Understanding the Complexities of New York’s CEMA Loans

By |2022-02-04T20:04:20-06:00January 5th, 2022|Compliance, Featured|1 Comment

CEMA transactions can reduce refinancing costs in New York, but private lenders must be diligent about following the process. Long-term rentals have exploded in the private lending space during the last several years. Private lenders entering the New York market who want to be competitive must understand and be able to handle CEMA, a unique [...]

By |2022-02-04T20:04:20-06:00January 5th, 2022|Compliance, Featured|1 Comment

Borrowers in Bankruptcy Part 4

By |2021-11-23T21:12:57-06:00November 23rd, 2021|Compliance, Featured|0 Comments

Get the most out of the bankruptcy: Understand the risk management strategies you can take prior to granting a loan. Disclaimer: This article is for informational purposes only and is not meant to be legal advice. Consult your local bankruptcy attorney for your particular situations. As part of a series of articles discussing strategies for [...]

By |2021-11-23T21:12:57-06:00November 23rd, 2021|Compliance, Featured|0 Comments

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