Tag: CMBS loans
Michigan Legislature Takes Action to Fend off Non-Recourse Turned Recourse Liabilities
Written by Kenneth F. Silver, Esq. Recently, I wrote a blog concerning the Cherryland Mall case wherein a presumably non-recourse CMBS loan was determined to be recourse because the borrower’s default was held to be a breach of the insolvency…
Recent Case Turns Non-Recourse Lending Into Recourse
By Kenneth F. Silver Over the course of the last dozen years or so, many owners of commercial properties have taken advantage of a program known as CMBS (Commercial Mortgage Backed Securities) to obtain non-recourse financing at very favorable rates….
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