Real Estate/Development
Sep. 26, 2009
Mortgage Modifications Made Easier
David L. Kimport of Nossaman LLP says the Internal Revenue Service's issued guidance will ease modification of securitized mortgages.
REAL ESTATE
By David L. Kimport The Internal Revenue Service has issued highly anticipated guidance that should significantly increase mortgage lenders' and servicers' flexibility to modify certain securitized commercial mortgage loans. The guidance (Revenue Procedure 2009-45), issued on Sept. 15, 2009, applies to securitized loans held by Real Estate Mortgage Investment Conduits or investment trusts. The guidance clarifies and simplifies the condi...For only $95 a month (the price of 2 article purchases)
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