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Inside NY Commercial Mortgage Loan Opinion Practice

Law360, New York (December 19, 2014, 3:32 PM EST) -- Opinion letters, rendered by borrower’s counsel to a third party, are an integral part of any commercial mortgage loan financing transaction. For those inexperienced with drafting and delivering opinions, responding to the expectations of lender’s counsel, and having to address the mix of legal opinions and factual opinions customarily expected to be in the opinion letter, the task can be daunting. As a frequent deliverer and recipient of commercial mortgage loan legal opinion letters, I am often asked, “What is the norm?” or “Is this standard or customary practice in New York these days?”

The growing role of custom and practice...

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