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Lender Transactions

Aside from the Buyer and Seller, Banks and other Lenders are also Represented During a Real Estate Transaction.

When a Savings Bank, Commercial Bank, or even a private lender puts up the money for purchasing real estate, they need to make sure that the borrower can repay the loan.  They also are interested in making sure everyone involved handles every aspect of the deal legally and professionally. At Taub and Bogaty, PLLC, we represent lenders with the highest standards of legal and professional ethics.

We represent lenders to protect their interests in any real estate purchase or refinance transaction.  Our real estate team is committed to providing quick, efficient, and accurate documentation to expedite the closing process.   At the same time, we ensure that the lender is protected and secure throughout the transaction. In addition, we offer flexible closing times and locations to accommodate borrowers and sellers.

Lenders Need to Ensure the Transaction is Complete with No Issues for the Borrower

To protect the borrower, lenders want to know that the deal closes without any outstanding issues.  Any issues that may impact the borrower can eventually lead to problems with repaying the loan.  The scope of our lender representation includes:

  • Reviewing the title and assisting in resolving title issues

  • Verify the status of real estate taxes, liens, and order payoffs

  • Prepare and review HUD-1 Settlement Statements

  • Procure lender's title insurance


Coop Deals are different from Standard Real Estate Deals.

When borrowers buy into a Cooperative, they are not buying their apartment, as they would be with a condominium.  Buyers are not buying real estate at all. Instead, they are buying shares into the corporation that owns the building.  


As such, the criteria for protecting the lender's investment are quite different.  We will review the corporation's financial statements and how the cooperative is run to ensure that the loan is a good investment.

Representing Lenders of 203(K) Loans

A 203(K), often referred to as a Rehab Loan or a Construction Loan, lets you finance the home you are buying and the cost of needed repairs.  Lenders will not want to finance costly repairs when the loan is more than the house's value.

A 203(K) loan lets you borrow against the home's estimated value after the repairs are complete.  To qualify for a 203(K) loan, homeowners must get bids to complete the work and choose contractors.  Lenders will review the job and ensure the lender is using only licensed contractors to protect their loan.  "DIY" projects are not permitted for these loans.  Lenders will also review the borrower's income, assets, and credit report before approving a loan.

At Taub and Bogaty PLLC, we represent the interests of 203(K) lenders to ensure all steps of the process are handled correctly.

CEMA Transactions

Taub and Bogaty, PLLC also represents lenders of CEMA Loans.  A Consolidation, Extension, and Modification Agreement load in an option for New York borrowers to lower their closing costs when refinancing a loan.

As opposed to paying mortgage recording taxes on the entire loan, CEMA loans allow the borrower only to pay the tax on the difference between the original principle and the new loan amount.   Borrowers must qualify for a CEMA loan.  Due to the approval process, a CEMA loan approval can take time to complete, sometimes up to 90 days or more.

Other Service Areas

Real Estate

REal Estate Transactions

Real Estate transactions require specific attention and consideration. 

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Short Sale Transactions

A short sale may help a homeowner avoid foreclosure.

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Business Law and Counsel

Structuring, negotiating and implementing a wide variety of business transactions.

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