INDUSTRY NEWS
Here you will find the most current and relevant industry news for Private Lending Professionals and Service Providers.
New York Senate Bill 1061A: Regulation of Commercial Finance Licensing
Authored by Jonathan Hornik, Esq. and Peter Kelegian, Esq. of LaRocca Hornik Rosen & Greenberg, LLP
It is vital to commercial mortgage lenders that the proposed NY Commercial Financing Licensing Law not apply to them. For the following reasons, an exemption for “commercial financing transactions secured by real property” should be added to Section 363-b of the bill.
The Do’s and Don’ts in Drafting and Enforcing Personal Guaranties on Real Estate Loans
Authored by Todd E. Chvat, Esq. and T. Robert Finlay, Esq. of Wright, Finlay & Zak, LLP.
Requiring a non-party to assume the debt of another is not to be taken lightly and should never be done without a solid written agreement to ensure the creditor maximum flexibility in its enforcement.
New York Private Lender/Investor Alert: Senate Bill 5376
Authored by Jon Hornik, General Counsel, NPLA
If passed, the bill will adversely impact fix-n-flip transactions in New York City. Private Lender Law and the NPLA are engaged in defeating this bill.
New York Senate Bill 1061 Would Require Licensing for Private, Hard Money Commercial Mortgage Lenders
Authored by Jon Hornik, General Counsel, NPLA
Private Lender Law and the National Private Lenders Association are preparing arguments to dissuade the passage of the Bill.
New York Covid-19 Emergency Eviction And Foreclosure Prevention Act Of 2020 Signed Into Law
Authored by Jon Hornik, General Counsel, NPLA
The Act’s stated intent is to avoid evictions and foreclosure proceedings for persons experiencing financial hardship during the COVID-19 pandemic and…
New York Commercial Finance Disclosure Bill 5470 Signed Into Law
New York Senate Bill 5470 (NY TILA), known as the Commercial Lending Disclosure Legislation, was signed into law on December 23, 2020 by Governor Cuomo. The law will go into effect in 180 days.
New York Commercial Financing Disclosure Bill
Authored by Jon Hornik, General Counsel, NPLA
This bill will affect Private Lenders doing business in New York, making bridge loans and term loans secured by 1-to-4 and multi-family housing.
New Philadelphia Bill Set to Impose Licensing and Disclosure Requirements on Wholesalers
Authored by Jon Hornik, General Counsel, NPLA
The city of Philadelphia Bill No. 200544 (the “Ordinance”) will regulate Residential Property Wholesalers…
Federal & State COVID-19 Eviction and Foreclosure Guide
Authored by Amy Kame, Managing Director, NPLA
View both federal and state mandates and interpretations of legislation relating to evictions, foreclosures, and utility shutoffs.
How Elections Affect Real Estate Investors – And What You Can Do About It
Authored by Jasen Miller, Founder and Managing Partner, Corridor Funding
Whether the presidential election results have left you elated or disappointed, it is a good reminder that you have important opportunities ahead as a real estate investor.
Construction Material Price Spikes, Impacting Real Estate Investors
Authored by Jasen Miller, Founder and Managing Partner, Corridor Funding
We have all heard the word “unprecedented” way too often this year. However, it is a fitting description for the surging price of lumber across the country.
California Senate Bill 1079: Residential Property: Foreclosure – Signed Into Law
Summary provided by Robert Finlay – Wright, Finlay, and Zak LLP
Industry groups posed strong opposition to defeat California Senate Bill 1079. Governor Newsome made it official Monday, September 28, by signing it into law. While the goal of SB 1079 is to steer foreclosed…
Private Lending Transactions Trending In The Right Direction
Authored by J. Andrew Damico, CEO ProDeal
Over the past few months, ProDeal has been in a unique position to witness and track the real estate market’s reaction to COVID-19. Here is what we’ve seen…
California Legislature Enacts Assembly Bill 3088 – Tenant, Homeowner, and Small Landlord Relief and Stabilization Act of 2020
Summary provided by Robert Finlay – Wright, Finlay, and Zak LLP
On August 31, 2020, the California Legislature enacted, and Governor Newsom signed Assembly Bill 3088, a compromise between…
A Time To Give
As the NPLA works to support one another professionally, we also understand the need to look beyond ourselves. That is why we are proud to announce our fundraising initiative in partnership with Mercy Housing.
COVID-19 Challenges to the Commercial Mortgage Market
In the first few months of 2020, the commercial lending market has been severely impacted by COVID-19.According to the Department of Labor, nearly 10 million Americans have filed for unemployment in...
Coronavirus: The Impact on Financial Markets and Private Lending
The year 2020 has been shocking to the world's citizens and financial markets. As the Coronavirus-driven economic crisis continues, we find ourselves looking for guidance. We at the NPLA, believe...
New York Senate Bill 7231
The National Private Lenders Association (NPLA) has tracked a new bill in the NY Senate introduced by State Senator Julia Salazar and Assembly Member Harvey Epstein.Our Legal Counsel to the NPLA,...
New York Anti Fix & Flip Legislation
”The New York state small home anti-speculation act” aims to impose a 15-20% additional conveyance tax on 1-5 separate residential units located in certain parts of New York City, if transferred...
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