Creditors' Rights & Bankruptcy

Loan Servicing (Special)

Stites & Harbison's attorneys have extensive experience representing special servicers in connection with all areas of traditional and CMBS loan servicing. The attorneys in the firm's Creditors' Rights, Real Estate, and Capital Markets Practice groups have a collective depth of experience that allows us to handle a broad spectrum of services including complicated workouts, bankruptcies, and foreclosures.

In addition to our comprehensive loan servicing practice area, our firm’s well-established and comprehensive representation of CMBS originators makes us uniquely qualified to represent servicers in the CMBS industry.

Since 1998, Stites & Harbison's Capital Markets attorneys have closed more than 2,150 loans in 49 states, totaling over $20.5 billion in volume. Simply stated, we understand capital markets loan transactions.

Finally, we have a deep bench. Stites & Harbison has more than 50 attorneys, paralegals, mortgage loan processors, and support staff in three offices across the Southeast. Our team of lawyers and staff are responsive, experienced, deadline-oriented and trained to proactively spot issues and find creative solutions.

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Client Alerts

Finally: The CFPB Has Returned . . . to the Final Rule Implementing the FDCPA in the 21st Century

On Friday, October 30, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a new, long-awaited final rule to bring the Fair Debt Collection Practices Act (“FDCPA”) regulations into the 21st century. In announcing the change, the CFPB had the same idea as me: distinguishing the differences between pop culture and collection practices in 1977 and 2020.

by Michael B. Schwegler (Mike) November 02, 2020
Client Alerts

GSEs Announce New Fee for Consumer Residential Loan Refinances: Lenders Brace for Added Costs and Potential Compliance Concerns

On August 12, 2020, the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”) delivered a harsh blow to lenders and consumers in the residential mortgage market when they announced they would impose a .5% fee (i.e., a 1/2 “point” in mortgage finance parlance) on refinance mortgages purchased by Fannie Mae and Freddie Mac after September 1, 2020.

by Brian M. Bennett and Michael B. Schwegler (Mike) August 18, 2020
Client Alerts

Main Street Loan Program

Recently, the Federal Reserve initiated a new commercial lending facility that has been promised for months, the Main Street Lending Program (“MSLP”), consisting of three new loan facilities: the New Loan Facility, Expanded Loan Facility and Priority Loan Facility.

by Michael B. Schwegler (Mike) and J. David Wicker June 29, 2020