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Measure twice shields

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Measure twice shields

  1. 1. 1 MEASURE TWICE – CUT ONCE: LEGAL ADVICE ON HOW UNDERWRITING NEEDS A CHANGE IN TODAY’S MARKET
  2. 2. 2 • GRADY L. SHIELDS • Wyrick Robbins Yates & Ponton LLP PANELISTS
  3. 3. 3 • DON’T JUST GO TO THE “LOW-PRICED SPREAD” • LOOK AT NON-SCOPE ISSUES, LIKE ASBESTOS • CONSIDER PROPERTY CONDITION ASSESSMENTS • DON’T OVERLOOK POTENTIAL COMPLIANCE ISSUES • threat to the borrower’s ability to pay • threat of direct lender liability • impacts to FMV • MAKE CLEAR THAT THE BORROWER IS NOT ENTITLED TO RELY ON THE LENDER’S DUE DILIGENCE UNDERWRITING IN TODAY’S MARKET
  4. 4. 4 • FOLLOW UP POST LOAN/ACQUISITION • GET PROPERTY READY – BROWNFIELDS, DSCA, RISK- BASED • DUE DILIGENCE FOR REFINANCING • REVIEW YOUR FORM DOCUMENTS • CONSIDER LENDER ENVIRONMENTAL COVERAGE • DOCUMENT ALL STEPS TAKEN TO MARKET AND SELL UNDERWRITING IN TODAY’S MARKET
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