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All News, Covid-19, In The News |
  June 2, 2020

COVID-19 Challenges for Lenders

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Daniel P. Grippo

Amanda J. Auricchio

Armand A. D'Alfonso

Xanthe M. Larsen

Adriana M. Baranello

Alessandra DeCarlo

Elizabeth L. Demler

Jeffrey D. Kuhn

Matthew D. Babcock

Andrew E. Pawenski

Candace Tarana

Jamie Page

Reginald Oleus

Yahaira Liriano

Courtney Fay

Emily Edwards-Bourdrez

Stacy Juhl Buchholz

Cyndy M. Arthmann

Constantine P. Lizas

Michael A. Discenza

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Some lenders have become less likely to give commercial landlords relief on their mortgages than they were at the start of the COVID-19 pandemic. As a result, landlords may be asked to provide reserve accounts when loans are refinanced, partner Mathew Barry of our Capital Region office told the Albany Business Review recently. “The first couple of weeks was literally a triage situation in the lending world and you gave everybody the benefit of the doubt with deferments,” Mat told the paper. “If a borrower comes and asks for more forbearance [now], they may dig down deeper and ask for more due diligence. Do you really need this additional assistance?” Mat is a member of our Commercial Real Estate Practice Group and our Financial Institutions and Capital Markets Team.

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COVID-19 Challenges for Lenders

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Some lenders have become less likely to give commercial landlords relief on their mortgages than they were at the start of the COVID-19 pandemic. As a result, landlords may be asked to provide reserve accounts when loans are refinanced, partner Mathew Barry of our Capital Region office told the Albany Business Review recently. "The first couple of weeks was literally a triage situation in the lending world and you gave everybody the benefit of the doubt with deferments," Mat told the paper. "If a borrower comes and asks for more forbearance [now], they may dig down deeper and ask for more due diligence. Do you really need this additional assistance?” Mat is a member of our Commercial Real Estate Practice Group and our Financial Institutions and Capital Markets Team.

Attorney Advertising. Prior results do not guarantee a similar outcome.
© 2022 Harris Beach PLLC

Content current as of May 20, 2022 1:18 am
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