Cooperative Apartment Loans

Cullen and Dykman LLP has a large and technologically advanced loan closing practice, closing cooperative (“co-op”) apartment loans for a number of local and national lenders. We dedicate a team of professionals who are experts on the requirements of co-op loans to each client which ensures personalized service and fast movement of files from commitment to closing. The firm’s technology allows our closing coordinators to generate all co-op specific loan documents, including the Recognition Agreement and UCC-1 financing statement. We handle the filing of the UCC-1 financing statement, the coordination of the payoff of existing co-op loans on refinances, attend the closing, which is usually held at the managing agent’s office, and prepare the Recognition Agreements and HUD-1 Settlement Statement, in addition to all other co-op specific loan documents. We regularly provide advice to financial institution clients interested in launching a cooperative apartment loan program in New York.

We've provided these services as General Counsel in some of the following industries: BANKING

Case Studies

Assisting Clients Expanding Into New Territories
July 7, 2011

Advisories

CFPB Amends the TILA-RESPA Integrated Disclosure Rule
July 25, 2017
CFPB Issues Final Mortgage Servicing Rule to Provide Greater Protections to Borrowers
August 22, 2016