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UFA Default Risk Index: Light at the end of the tunnel or severe recession?

National Mortgage Professional
Nov 19, 2008

Stuart M. Saft releases two-volume set on commercial real estate workoutsMorgagePress.comStuart M. Saft, Dewey and LeBoeuf, commercial real estate, Commercial Real Estate Workouts Stuart M. Saft, a partner in the Dewey and LeBoeuf real estate practice, has released the third edition of Commercial Real Estate Workouts, providing new insight and information on the timely issue of real estate workouts. The title is published and available for purchase through West, a Thomson Reuters business. First released in 1991, during one of the last major real estate downturns, Mr. Saft's book draws on over 30 years of experience to provide up-to-date information on dealing with real estate workouts in the current real estate environment. "In the current real estate recession, workouts are becoming an issue of top priority. Due to the complexity and uniqueness of each situation, a well-informed adviser is the best way to protect an asset," said Mr. Saft. "This book was written with that intentionto advise lenders and borrowers on how to best respond to a default in order to safeguard interest in the property until market conditions improve." Drawing on his extensive experience representing lenders, developers, private equity firms and other real estate investors, Mr. Saft has compiled the best legal advice and information for the third edition to deal with assets in a smart, timely and successful manner. As many organizations are faced with the challenges of dealing with incomplete, unsold or foreclosed assets, Mr. Saft provides first-hand knowledge and case studies to educate borrowers and lenders on a host of different workout options. While real estate history has seen cycles of tremendous growth and decline, investors in today's market need to act now to protect their current portfolios and assets. As a longtime source of legal advice, Mr. Saft's new edition is drawing great interest from borrowers, lenders and the legal community nationwide, as many attempt to deal with the challenges of the current real estate cycle. For these parties, the book provides a quick, up-to-date reference on how to deal with all legal matters pertaining to a real estate workout. Specifically, the resource offers extensive guidance to the structure and maintenance of real estate workouts, including detailed statutory analysis of commercial law, UCC, contracts, real property and real estate. Section titles discuss: Reacting to Real Estate Defaults, Analyzing the Property: Lender's Due Diligence, Commercial Loan Workouts, Construction Loan Default, Workouts of Structured Financing, Workouts of Mezzanine Financing, Refinancing a Discounted Indebtedness, Cooperative and Condominium Defaults, Environmental Considerations, Title Insurance and Title Issues, Foreclosure and Other Lender Remedies, Deeds in Lieu of Foreclosure, Lender Liability, Borrower's Inappropriate Behavior, Selling the Problem Product, Overview of the Bankruptcy Laws, and Federal Income Tax Implications of Loan Default, as well as a Table of Cases. For more information, visit
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