Whose Claim Is It Anyway? The CWCapital Case Explains the Role of a Servicer
The Line welcomes back guest blogger Linda Stahl. Linda is a partner in our litigation practice. Using her experience in litigating issues affecting CMBS trusts and loan servicers, she will periodically share her insightful perspectives to The Line.
On more than one occasion, clients have described the creation of mortgage-backed securities not as a delegation of authority by one party to another, but rather as a “coming to the table” by the issuer, master servicer, special servicer and trustee to assume discrete roles. As a result, CMBS players look to the Pooling and Servicing Agreement (PSA) to define their responsibilities, and give little thought to whether there are common-law duties inherent in the servicer/trustee relationship.
Ruthless, or Just Rational? - Part II
Linda Stahl is back with the follow-up to her discussion on strategic defaults.
Last time I raised the question of why voluntary defaults by homeowners have been such big news lately. I suggested that homeowners may breach more frequently than is best for society because nonrecourse debt spares homeowners the full cost of breach.
Ruthless, or Just Rational?
Today, The Line welcomes guest blogger Linda Stahl. Linda is a partner in our litigation practice. Using her experience in litigating issues affecting CMBS trusts and loan servicers, she will periodically share her insightful perspectives to The Line.
