Panel: Lender Made Commercially Reasonable Efforts To Remove Lien

Mealey's (December 15, 2021, 2:16 PM EST) -- CHICAGO — A federal district court did not err in ruling that a mortgage lender made commercially reasonable efforts to remove liens on a commercial property so that borrowers could refinance the property to pay $1.6 million toward a mortgage loan on another commercial property for which the lender also provided a mortgage loan because the lender complied with its obligation to fulfill this requirement, a Seventh Circuit U.S. Court of Appeals panel ruled Dec. 13 in affirming....