Analyze the most common lender liability claims and highlight the areas during the life of a loan when such claims arise.
Despite recent improvements in the nationwide economy, credit markets are still tight and loan defaults remain high. As a result, both lenders and loan servicers are at risk for lender liability claims brought by borrowers, guarantors, and even third parties. For many years, these claims were used mainly as stall tactics during foreclosure and bankruptcy proceedings, but now they are increasingly used as leverage during workout negotiations. As the market improves and borrowers have more potential equity to protect, they are becoming even more aggressive in using these claims. Third parties have also become more creative in pursuing claims against lenders related to borrower misconduct. This topic will analyze the most common lender liability claims and highlight the areas during the life of a loan when such claims arise, and will explore emerging theories of liability, including the recent resurgence of lender liability claims by developers and the rise of claims against lenders related to fraud or other misdeeds committed by the borrower. Equally important, the topic will offer concrete, practical steps for avoiding lender liability claims, and help senior management, loan officers, workout officers, special servicers, and counsel improve their ability to spot potential lender liability risks, assess claims asserted by borrowers, guarantors and third parties, and avoid lender liability claims, thereby avoiding unnecessary litigation and maximizing the lender's recovery in a challenging legal and economic environment.
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Agenda
Common Theories of Lender Liability - an Overview
- Contractual Liability
- Common Law Liability
- Statutory Liability
- Bankruptcy Considerations
Problem Areas During the Life of a Loan
- Loan Application, Underwriting, and Documentation
- Loan Administration and Discretionary Clauses
- Borrower Default and Loan Workout Negotiations
- Foreclosure and Repossession
- Dealing With Guarantors
- Secured Lenders vs. Bankruptcy Trustees and Creditors Committees
Developing Issues
- The Resurgence of Lender Liability for Construction Loans
- Lender Liability to Third Parties: The Rise of Claims Related to Borrower Fraud
Tips for Avoiding Lender Liability Claims (or Winning Those You Don't Avoid)
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Over 33 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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OnDemand Course
This course was last revised on August 27, 2019.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.5
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- VT CLE 1.5
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To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 33 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
Rachel M. Blise
Foley & Lardner LLP
- Senior counsel in the Milwaukee, WI office of Foley & Lardner LLP
- Practice includes all aspects commercial litigation, including an emphasis on lender liability and creditors rights litigation
- Conducts regular seminars on lender liability and creditors rights issues
- Can be contacted at 414-297-5862 or [email protected]
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Why Lorman?
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