Can Banks Keep Up With The Joneses?

The banking industry’s business model has traditionally centered on holding consumer’s money. For banks to make money, they have to hold on to that money. But with the growth of e-commerce, the traditional banking model could face some challenges. Today’s consumers want their money, and they want it now. So in order to stay relevant, banks may need to revamp and innovate the way they do business.
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Real Estate Valuations and Appraisals to Receive Technological Upgrade

Bowery Valuation is changing the name of the game when it comes to valuation and appraisals with its new automation software. With the help of Cushman & Wakefield, and some other real estate-focused investment firms, this small startup has created technology to automate and optimize the appraisal process. The founders of Bowery created a software platform with an aim to save time in an industry that has remained relatively unchanged over the past several decades. Bowery’s software includes features such as automatic public record retrieval, a passive database feature that saves past rental and sales comps for easy future access, and a revamped appraisal report system which utilizes natural language and “check-the-box” style questions to describe a particular real estate listing. These features ultimately save time in the preparation of the appraisal. With all of the technology available out there today, it’s almost a surprise such a software wasn’t utilized earlier. As more and more industries move towards revamping and enhancing antiquated processes, the message is clear: get on board or get left behind.
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HVCRE Clarity Might Be On The Horizon

Regulations surrounding HVCRE loans have been nothing short of confusing and challenging. Senators Tom Cotton and Doug Jones of the Senate Banking Committee introduced a bill last month to add clarity to these regulations. This bill is a companion to HR 2148 passed by the House last November. Among other things, HR 2148 excludes loans made prior to January 1, 2015 from HVCRE status and allows HVCRE loans to be reclassified as non-HVCRE upon completion of the project and generation of cash flow sufficient to support debt service and expenses. HR 2148 also excludes loans for the acquisition or refinance of existing income-producing real property, and the improvement of existing income-producing improved real property, secured by a mortgage so long as the cash flow Is sufficient to support debt service and expenses. However, it remains to be seen whether the Senate bill, and the corresponding House measure, will bring clarity in application or further confusion.

Banks Fight to Stay Viable in Commercial Real Estate Deals

In recent years, as a response to banks’ reduced real estate lending, more and more alternative funding sources have cropped up to fill the void. As a result, traditional financial institutions must get creative to stay relevant in commercial real estate deals. This article focuses on the competition between traditional lenders and different alternative funding sources.
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SOFR Takes the Stage: Replacing the LIBOR Rate

As the viability of LIBOR continues to be called into question, the Alternative Reference Rates Committee (the “ARRC”) recently selected SOFR, a broad measure of overnight Treasury financing transactions, as its recommended replacement for the U.S. dollar LIBOR. While SOFR is thought to be the most robust and transaction-based rate currently available, making it less susceptible to manipulation, it is not an exact replacement for LIBOR. This article briefly discusses the advantages and challenges associated with utilizing SOFR as an alternative to LIBOR. However, it remains to be seen how the ARRC will reconcile the differences between LIBOR and SOFR. Click here to read the full article.

Election Against Ex-husband’s Will Barred Due to Unresolved Marriage Status

Our own Brock Jordan recently obtained a favorable appellate court ruling in an estate dispute of unique precedence. Most lawyers haven’t thought about the Dead Man’s Statute since law school, and view laches as an idle threat. Brock Jordan saw these doctrines for what they are: good law. Through bold and strategic advocacy, Brock handed his client a victory on Tuesday, when the Indiana Court of Appeals issued a favorable ruling.

When Keeping it Bold Goes Wrong: Recent Case Construes Insurance Policy Against Insurer Based, in Part, on a Bold Ambiguity

By Justin Wiser and Sebastian Spears

 

One of the most important skills for an attorney is legal writing. Yet, it goes beyond “an arresting opener, a clean narrative line, and polish throughout.”[1] Whether you are a litigator or a transactional attorney, a recent case from the Indiana Court of Appeals emphasizes the importance of incorporating proofreading into your writing process, specifically focusing on formatting and uniformity.