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April 14, 2010
American Bar Association eCLE Program
Sutherland Partner William G. Rothschild is speaking on an ABA eCLE program entitled "IRS Guidance on Modifications of Commercial Mortgage Loans: False Hope or New Start?" on April 14, 2010, at 1:00 p.m. EST.
In September 2009, the Treasury issued updated regulations applicable to Real Estate Mortgage Investment Conduits (REMICs), and the IRS issued Revenue Procedure 2009-45, to provide long-awaited guidance on the modification of loans held by REMICs.
The changes in the loan modification rules were in response to outcries from borrowers and lenders that the current rules were too inflexible and had not kept pace with the realities of commercial mortgage financing. But will these changes actually deliver the intended benefits to borrowers and lenders?
The program will discuss the practical effect of the Revenue Procedure and Regulations on borrowers, lenders and loan servicers. Does the new guidance on the modification of commercial mortgage loans give borrowers, lenders and servicers the answers they were looking for, or does it generate more questions than answers?
For more information and to register for this event, click here.