Joshua Stein's Website: Lending

Joshua Stein's Website

Joshua Stein

Joshua Stein PLLC
59 East 54th Street, Suite 22
New York, NY 10022
joshua@joshuastein.com
(212) 688-3300

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	© 2010 Joshua Stein

Lending 30 Articles and Other Items Found	Click Here for Some of Joshua Stein's Completed Matters (Lending)
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Commercial Real Estate Financing Seminar: Defaults, Distress, Maturities, and Stacks of Debt [2010]
	In March 2010, Joshua Stein will again chair PLI's annual two-day seminar on commercial real estate financing. This year's seminar will focus almost completely on dealing with troubled loans. Speakers will include Fred Altschuler, Marvin Bagwell, Warren Bernstein, Paul Fried, Richard Fries, Rob Hellman, Andrea Mattei, K.C. McDaniel, Jon Mechanic, Pat Randolph, and Dan Rubock. Click here for the program agenda and details.

LexisNexis to Publish Joshua Stein's Book on Troubled Loans [2010]
	Joshua Stein has just completed work on a book about how borrowers and lenders can handle loans that are in distress or default. The book discusses workouts, enforcement, common deal terms for loan modifications, early steps that borrowers and lenders can take, deeds in lieu of foreclosure, preworkout agreements, the risks of email, lender liability, and a wide range of other topics that have become extremely timely in today’s world. You can find out more about the book – and see a complete table of contents -- by clicking anywhere on this paragraph.

Bloomberg Newswire Quotes Joshua Stein on NY Foreclosure Process [2008]
	To see a copy of the article click here.

Stein Appointed Education Chair for Mortgage Bankers Association NY [2008]
	Joshua Stein was appointed to chair the Education Committee of the Mortgage Bankers Association of New York, starting in summer 2008. In that role, he is responsible for putting together educational programs on commercial real estate financing for MBA/NY. The first such program took place on November 20, 2008, and consisted of a panel discussion on the buying and selling of commercial real estate loans, and the state of that market. The second program, held on March 25, 2009, consisted of an interview with Pat Goldstein about the commercial financing market and dealing with troubled loans. In June, Stein chaired a "Workouts Workshop" panel for the association.

Looking for Trouble and Finding It - Loan Due Diligence [2010]
An overview of how to review a portfolio of troubled commercial real estate loans, and what to look for.

Judge Posner Cites Joshua Stein Article on SNDAs [2010]
In a June 2010 decision, Judge Posner of the Seventh Circuit discussed subordination, nondisturbance, and attornment agreements. The case is notable for at least two reasons. First, almost no cases ever discuss SNDAs. Second, Judge Posner cited one of Joshua Stein's articles about SNDAs. Click anywhere on this paragraph to read the decision.

After the Thaw [2010]
How will real estate financing look when today's deep freeze finally ends? Joshua Stein tried to answer that question for ULI's Urban Land magazine.

Interview About New Law Practice - Joshua Stein PLLC [2010]
BNA Real Estate Law & Industry Report interviewed Joshua Stein about his new law practice; his use of technology; and the state of commercial real estate. Click here to read the interview.

Did the Sky Fall on Leasehold Mortgagees? (The Qualitech Case -- Five Years Later) [2009]
In 2003, the "Qualitech" decision struck fear into the hearts of leasehold mortgagees from coast to coast. Later cases confirm Joshua Stein's opinion at the time that the fear of "Qualitech" was overstated.

Language of Commercial Real Estate Finance [2009]
A brief collection of jargon from commercial real estate lending and workouts.

Looking Ahead to a New Era in Commercial Real Estate [2009]
What will commercial real estate look like after the current recession ends? BNA asked several members of the BNA editorial board, including Joshua Stein, to share their predictions. Click here to read the article.

Future of Securitization and Commercial Real Estate Financing [2009]
What will it take to bring back commercial real estate financing, particularly of the securitized variety? Joshua Stein offered a few suggestions in this article for Commercial Mortgage Insight.

Usury Chapter - Stein on NY Commercial Mortgage Transactions [2008]
Joshua Stein summarized New York usury law in an article published by the New York State Bar Association several years ago. That article was updated and became Chapter 2 of "Stein on New York Commercial Mortgage Transactions," published by LexisNexis and last updated in 2008. To read that chapter, click anywhere on this paragraph.

Model Intercreditor Agreement for A-B Loans [2007]
When an originator breaks one loan into an A Loan and a B Loan, the relationship between the two can become rather complex. This article explains why and how. It also offers a model agreement that seeks to summarize normal industry expectations.

Stein on New York Commercial Mortgage Transactions - Information Brochure [2006]
LexisNexis Matthew Bender has released its brochure for STEIN ON NEW YORK COMMERCIAL MORTGAGE TRANSACTIONS. The brochure summarizes the book and includes ordering information. To see the brochure online, click anywhere on this paragraph.

Allonges Under New York UCC [2006]
For any loan assignment, the parties usually sign an "allonge" on a separate piece of paper and throw it into a closing file. This practice may not make the assignee the "holder" of the loan and may create totally preventable legal issues down the road. In this article, Larry Safran and Joshua Stein explain why.

A Wish List for New York Real Estate Law [2005]
A dozen easy ways to improve and simplify New York real estate law, primarily for lending and leasing.

Benchmark Insurance Requirements for Commercial Real Estate Loans and Why They Say What They Say [2004]
Sample language for state-of-the-art insurance provisions to include in a commercial mortgage loan agreement, with extensive annotations.

How a Lender Looks at a Lease [2004]
This chapter from Joshua Stein's two-volume Commercial Leasing book explains how lenders and their counsel review space leases. What do they care about in leases, and why?

Needless Disturbances - Do Nondisturbance Agreements Justify All The Time and Trouble? [2003]
A critical analysis of how nondisturbance agreements work and some possibly simpler ways to deal with the same issues.

Guide to Commercial Mortgage Transactions in the USA [2002]
An overview of how commercial mortgage loans are negotiated and closed in the United States.

How Some "Standard" Language in a Promissory Note Cost a Lender Five Years of Default-Rate Interest [2002]
Surprises sometimes lurk in "standard" language. Here's an expensive example from a case in California.

Confusury Unraveled - New York Lenders Face Usury Risks in Atypical or Small Transactions [2001]
New York usury law consists mostly of exemptions. But it also imposes huge penalties for the occasional usurious transaction that manages not to qualify for any exemption.

Defeasance - Now a Viable Option in New York State [2000]
How "defeasance" works, and how it works in New York despite New York's panoply of taxes on commercial real estate transactions.

Nuggets of New York Commercial Mortgage Law and Practice - A to Z [2000]
A miscellaneous collection of things that New York commercial mortgage lenders need to know.

Lenders and Hotel Management Agreements [1998]
Why hotel lenders can't treat hotel managers the same as anchor tenants.

A Simple Proposal to Simplify New York Mortgage Recording Tax [1997]
An overview of how New York's mortgage recording tax works, why it causes so much trouble, how the State could easily simplify it, and some other thoughts on the mortgage recording tax.

Hotel Loans - Underwriting, Structuring and Lenders' Due Diligence [1997]
The special issues of hotel loans, and the questions a lender needs to ask.

Mortgage Loan Assignments - A Primer in Two Parts [1997]
When a mortgage holder sells a mortgage, the transaction may raise more legal and practical issues than an outright sale of the underlying property.

Subordinate Mortgage Financing - The Perils of the Senior Lender [1997]
A thorough explanation of why rating agencies hate second mortgages.