Marijuana Business Ripe for Lending Industry

The growing marijuana industry is ripe for lenders, and the Department of Justice and the U.S. Treasury Department have issued recent guidance to help smooth the transition for lenders entering this growing industry. On January 1, 2014, Deputy U.S. Attorney General James Cole issued a memo, now commonly known as the “Cole Memo,” setting forth the […]

Lender’s Right to Personal Deficiency Judgment: Use It (Correctly) or Lose It

Lenders beware: if a complaint for mortgage foreclosure seeks a personal deficiency judgment against a borrower based on the borrower’s obligations under a note and mortgage, be certain to obtain the right to a personal deficiency judgment in the foreclosure judgment and a personal deficiency judgment in the order confirming sale. If your mortgage foreclosure complaint does […]

Lender’s Release of One Co-Borrower Does Not Release All

A lender’s release of one co-borrower does not necessarily release all. That is the message sent by the Appellate Court of Illinois, First District, in a striking decision filed on May 27, 2015. In The Private Bank and Trust Company v. EMS Investors, LLC, et al., EMS Investors, LLC (“Investors”), Cheryl Bancroft and Herbert C. […]