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Live Webinar

90-minute live streaming program
  • December 7
  • 1:00 - 2:30 pm EST

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Post-Foreclosure Due Diligence Checklist

December 7

It is imperative for a lender to conduct a due diligence review of its file, the loan and the collateral as soon as possible.

When the decision is made to complete the foreclosure of real estate collateral, the lender could face many legal, practical and operational issues. If the lender did not have control of the asset or could not obtain up-to-date information on the property, the lender could face unwanted surprises in taking back the property. Any unknown issues confronted by the lender may in hindsight have affected the lender's decision to pursue the asset or its treatment of the borrower (or the guarantors). By implementing a pre-foreclosure plan and confirming the foreclosure process and condition of the asset through a post-foreclosure checklist, the lender can issue-spot, predict carrying costs and dilute or eliminate potential liability. This content will examine the potential issues that a lender confronts after foreclosing on its real estate collateral and provide a checklist to spot issues to address in an efficient and cost-effective manner.

Learning Objectives

- You will be able to review the pre-foreclosure tasks to better handle the real estate to be owned.

- You will be able to define the post-foreclosure issues important to the foreclosing entity.

- You will be able to identify title and operational issues in foreclosing real estate to save time and money.

- You will be able to recognize the risks in foreclosing to determine the best disposition of the real estate collateral.

Who Needs Foreclosure Due Diligence Training?

Paralegals, attorneys, real estate professionals, legal professionals, property developers, financial professionals, homebuyers, entrepreneurs and other professionals can all benefit from the training. If you work with foreclosures or commercial foreclosures in any capacity, due diligence training helps you understand the process more fully while allowing you to avoid some of the risks associated with foreclosures while maximizing the potential of this type of real estate transaction.

Foreclosure due diligence training prepares you with the practical information you need to conduct due diligence, as well as a strong understanding of the reasons behind due diligence. Find out what to look for and where to look for the information you need. In some states, this training can be used to meet CLE requirements. If you are looking for training for professional development or to help you realize new career opportunities, foreclosure due diligence training may be what you are looking for.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Pre-Foreclosure Plan of Action
  • Loan File Review and Update
  • Guaranties and Other Collateral
  • Notice of Default
  • Parties With Adverse or Priority Claims
  • Co-Lender/Intercreditor/Mezzanine Lender Issues
  • Election of Remedies
Post-Foreclosure Litigation Issues
  • Means to Obtain Title (Judicial and Nonjudicial)
  • Appeal Rights
  • Bankruptcy
  • Redemption
  • One Action and Anti-Deficiency Issues
Post-Foreclosure Title Issues
  • Update Minutes of Foreclosure/Title Policy
  • Real Estate Taxes and Other Matters Outside Foreclosure
  • Mechanics and Inchoate Liens
  • Need to Foreclose/Possess UCC Collateral
Post-Foreclosure Operational Issues
  • Lease Obligations of Landlord: Buildout/Security Deposits/Property Operations
  • Enforce Lease Obligations of Tenant: Rent Collection/Lockbox/SNDA Terms
  • Building Management/Deferred Maintenance/Assumed Service Contracts
  • Taking Over Construction
  • Miscellaneous Operational Issues
    • Insurance
    • Environmental Issues
    • Licenses and Operating Permits
    • CC&R Issues
Purchase Options

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Live Webinar Registration

  • Bankers 2.0 including CLBB 2
     
  • The "Post-Foreclosure Due Diligence Checklist" program has been approved for 2.0 credit(s). This statement should not be viewed as an endorsement of this program or its provider." ICB Members must report these credits at www.icbmembers.org. This program has been approved in the following designation(s): CLBB for 2.00 hours.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.5 (Pending)
     
  • This program has been submitted to the Mississippi Commission on Continuing Legal Education. Approval pending.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.5
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.5 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: basic knowledge of the banking industry. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.8 hours of continuing professional education.
     

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for attorneys, presidents, vice presidents, loan officers, loan department personnel, branch managers, credit and collections managers, real estate professionals, controllers, accountants and auditors.

Purchase Options

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Larry N. Woodard

Larry N. Woodard

Miller Canfield

  • Member of real estate practice group of the Chicago office of Miller Canfield
  • Practice emphasis in all areas of real estate law, including commercial real estate transactions, real estate development, joint ventures, real estate based lending, loan workouts, foreclosures, construction law and mechanics liens
  • Represents Fortune 500 companies, developers, regional and national banks, institutional investors, special servicers, higher education institutions, units of local government, REITs, contractors, landlords, tenants, receivers and real estate brokers
  • Noted speaker and writer on a variety of real estate topics
  • Recently completed one of the largest investments of Chinese capital in the country
  • Publishing a treatise on reciprocal easement agreements and vertical subdivisions
  • Adjunct Professor of Law, The John Marshall Law School
  • Member of the International Council of Shopping Centers and the American, Illinois State and Chicago Bar Associations
  • J.D., LL.M. and B.S. degrees in real estate, University of Illinois and The John Marshall Law School
  • Can be contacted at 312-460-4278 or [email protected]
Purchase Options

More Program Information

Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401221
Published 2016, 2017
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