Yearly Archives: 2012

GERSON LAW FIRM APC STRETCHES BORDER TO BORDER

GERSON LAW FIRM APC closed loans from San Diego to the Canadian border, as well as undertaking lender engagements on both coasts during the month of October. Among highlights for lender engagements were more 17 loan origination closing plus extensions and modifications of multifamily loans totaling more than $75,000,000. During...
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CALIFORNIA ADA LAW REVISED CREATING DISCIPLINARY CONSEQUENCES ON LAWYERS MAKING FRIVILOUS DEMANDS

Senate Bill No. 1186, makes significant changes to the law, some of which impose State Bar disciplinary consequences on lawyers. The bill contains an urgency clause, which means it was effective immediately upon enactment Sept. 19, 2012, but some of its provisions don’t go into effect until Jan. 1, 2013....
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FANNIE MAE AND FREDDIE MAC MULTIFAMILY BY THE NUMBERS

Though not in headlines or on any popular internet news site, attorneys of GERSON LAW FIRM APC listened to reports in separate meetings in the last two weeks by leadership of Fannie Mae and Freddie Mac that included the following highlights: In the first three quarters of 2012, Fannie Mae...
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LENDER LIABILITY FOR FALSELY PROMISSING TO MODIFY A LOAN

A California appellate court has held in a case involving a residential mortgage that a lender may be liable for intentional infliction of emotional distress when it has represented that it will modify a loan, but thereafter does not modify the loan, and proceeds with a foreclosure. Raglan v. U.S....
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CALIFORNIA SUPERIOR COURTS STRAPPED BY BUDGET CUTS

In the face of California’s on-going budget problems, California courts are being forced to implement budget strategies which will have a serious impact on civil litigation. Judge Jeffrey Barton, Supervising Judge of San Diego County’s Superior Courts, addressed the San Diego Chapter of the California Receiver’s forum on September 29,...
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AUGUST WAVES AT GERSON LAW FIRM APC

August 2012 brought hot temperatures across the country, escapes to the beach, and GERSON LAW FIRM APC engaged in another month of an extraordinary wave of activity in both transactions and litigation. Representative August transactions: Closing 15 Fannnie Mae and Freddie Mac loans for more than $55,000,000 in California, Colorado,...
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ALEXANDER MANISCALCO JOINS GERSON LAW FIRM APC

GERSON LAW FIRM APC has announced that Alexander Maniscalco has joined the law firm as an associate attorney working in the firm’s San Diego office. Maniscalco has a broad background in real estate and business transactions as land use entitlement. He will serve the firm in these areas as well...
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KEY ECONOMIC TRENDS REPORTED DURING WEEK OF JUNE 4, 2012.

BANK DEFAULTS DOWN. The default rate across commercial and multifamily loans held by banks fell to 3.45 percent in the first quarter, the lowest since 2009, reported Chandan Economics, New York. LAS VEGAS COMING SLOWLY COMING BACK UP. Statistics seem to indicate that the local Las Vegas economy is slowly...
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CMBS LOAN DELINQUENCIES RISE ABOVE 10% BUT NEW COMMERCIAL/MULTIFAMILY LOAN ORIGINATIONS GROWING

News reports this past week reported that for the first time ever delinquencies on CMBS loans originated prior to the 2008 market crash now sit at 10.4%, but new loan originations are growing. Notable factoids relating to commercial/multifamily real estate finance released this week: • $59.1 billion in CMBS loans...
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FANNIE MAE AND FREDDIE MAC MULTIFAMILY SHOWS PROFIT

The only profits Fannie Mae and Freddie Mac generated since entering conservatorship in 2008 came from financing multifamily mortgages, according to the inspector general of the Federal Housing Finance Agency, in a recently released report. The GSEs earned a $7 billion gain from their multifamily division between 2008 and the...
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