Author Archives: Nicole Christie

Nicole Christie

About Nicole Christie

Nicole F. Christie is a real estate attorney with Williams Parker. She represents clients in residential and commercial real estate matters. She represents developers, investors, lenders, and individuals in connection with purchase and sale transactions and the development of subdivisions, condominiums, and real estate investments. Nicole can be reached at or (941) 552-2564.

Borrowers Receiving Forbearance Will Not Have to Make Lump-Sum Payment When Forbearance Ends

Borrowers of federally backed loans owned by Fannie Mae and Freddie Mac will not have to repay missed payments in a lump sum once their forbearance periods end. Mark Calabria, Director of the Federal Housing Finance Agency (FHFA), made this clear in a statement aimed to correct consumer confusion after reports revealed loan servicers were telling borrowers they would have to repay missed payments in a lump sum. This misinformation was problematic for the tens of millions of unemployed Americans who feared they would continue to face financial hardship due to the COVID-19 emergency. Continue reading

IRS Issues Guidance on the Impact of Mortgage Loan Forbearances on REMICs and Investment Trusts

In response to requests to provide guidance on the impact of mortgage loan forbearance programs on the tax treatment of securitization vehicles, such as real estate mortgage investment conduits (“REMICs”) and investment trusts, the IRS issued Revenue Procedure 2020-26. The IRS establishes that forbearance programs offered as COVID-19 relief will not jeopardize the tax treatment and qualifications of REMICs and investment trusts.

The Rev. Proc. applies to forbearances granted under the CARES Act, and other forbearance programs offered by loan servicers and holders, either voluntarily or state mandated, for borrowers experiencing financial hardship due to the COVID-19 emergency. Continue reading

Florida Governor Suspends Mortgage Foreclosures and Residential Evictions

In recognition of COVID-19’s impact on the ability of Floridians to make mortgage and rent payments, Florida Governor Ron DeSantis issued Executive Order #20-94 on April 2 suspending the ability of mortgage lenders and landlords to bring actions for foreclosure or eviction for a period of 45 days from the date of the order (including any subsequent extensions). The order does not relieve an individual from making mortgage or rent payments.

The suspension on foreclosure proceedings applies to both residential and commercial mortgages. The suspension on eviction proceedings, on the other hand, is limited to residential tenancies.

Businesses are still subject to eviction for failure to pay rent during the COVID-19 pandemic. Although a commercial landlord can commence eviction proceedings, the landlord may not, however, be able to finalize the eviction and remove the tenant. On March 24, the Florida Supreme Court issued an order suspending the Florida Rule of Civil Procedure requiring clerks to issue writs of possession. Writs of possession are the final court orders in an eviction proceeding necessary to remove an evicted tenant.  That order stays in effect until April 17, unless subsequently extended.

The suspension on eviction proceedings is also limited to evictions arising out of a residential tenant’s failure to pay rent due to the COVID-19 emergency. Residential landlords may still commence eviction proceedings for other defaults under a lease.

Williams Parker’s COVID-19 response team is continuing to monitor these and other developments, and advise on issues arising from the Coronavirus. View the latest updates.

Nicole F. Christie
(941) 552-2564