Prior to joining Patel Law Group, I worked for two large servicers of Fannie Mae and Freddie Mac loans, and eventually ended up working in one of their special servicing departments managing underperforming loans. It wasn’t fun, and borrowers were annoyed, but it gave me a great understanding of what borrowers deal with once a...
Business Transactions Blog
Mar302023
As the economy grapples with a potential banking crisis, buyers are seeking ways to reduce interest rates and qualify for loans. Some sellers are willing to take on a bit of risk to help these buyers purchase through seller financing. Although seller financing is rare, it has grown more common as the Fed continues to...
Feb162023
As interest rates remain high, one option for investors seeking multifamily financing for acquisitions is a loan assumption. A loan assumption occurs when a real estate buyer purchases a property and takes over a seller’s existing mortgage loan through the lender. Many types of commercial loans can be assumed, including most Fannie Mae, Freddie Mac,...
In the search for an investment property, one of the first things any investor will consider is the property’s ability to cover its own operation and debt costs. Your lender will be just as, if not more, interested, and their underwriting team will delve deeply into the property’s recent financials calculating the annualized Debt Service...
Jan192023
[pdf-embedder url=”https://patel-law-group.local/wp-content/uploads/2023/01/PLG-Securities-2022.pdf” title=”PLG Securities 2022″]...
Dec222022
Like most people, I can’t believe it’s time for another new year to begin, and the guilt-ridden, annual ritual of confronting last year’s resolutions that failed to materialize. Although a few of my resolutions never came to fruition, I did follow through on one commitment–to engage in more volunteer work assisting communities in need. I’ve...
On November 23, 2022, The Securities and Exchange Commission (“SEC”) released its Strategic Plan for fiscal years 2022 through 2026, detailing its mission, vision, values, and goals moving forward through the next four years. Three main goals guide the SEC’s plan: (1) protecting the investing public against fraud, manipulation, and misconduct; (2) developing and implementing...
Nov152022
Securities lawyer Chris Barsness talks about the recent collapse of FTX and its exchange and the chapter 11 bankruptcy filing by FTX Trading and issues around regulations. ...