Fannie Mae v. MM Cloisters I LLC

IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA FANNIE MAE, , Case No. 2:25-cv-06122-JDW v. MM CLOISTERS I LLC, . MEMORANDUM When a borrower stops paying a loan that a mortgage secures, the lender can foreclose on the property to recoup its losses. But foreclosure can take time, and in many situations, the writing is on the wall. When that’s the case, the borrower doesn’t have much incentive to keep up its end of the bargain while awaiting the outcome of the foreclosure proceedings. That’s why many commercial mortgages include provisions that provide for interim…