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Preventing Verbal Changes to Loans
May 11th, 2018
Contributor: Michael D. Stultz
Most written agreements in Ohio can be changed verbally, including loans.[i] As a result, nearly all loan documents contain terms that forbid verbal changes to them. But can a lender and borrower verbally agree to waive a non-verbal-modification clau…
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The Danger in Getting Paid
March 27th, 2018
Contributor: Michael D. Stultz
What should a bank do when a borrower tries to make a monthly payment on a loan in default? Does that answer change when a borrower has more than one loan? And can a bank keep a partial payment made on a loan in default without jeopardizing liquidati…
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Another Year, Another Challenge: Ohio House Bill 67 Seeks to Ban Most Cognovits
February 24th, 2017
Contributor: Michael D. Stultz
It’s not news to any lender in Ohio that commercial borrowers don’t always repay their loans. Nor is it news that those borrowers sometimes try to hide or sell their assets before a lender can recover. But for over 200 years, Ohio’s lenders hav…
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Appellate Law Update: Protecting Ohio’s Lenders During Foreclosure
January 9th, 2017
Contributor: Michael D. Stultz
Foreclosure lawsuits are exacting masters. One mistake, however small, can taint everything that comes after. Aurora Loan Services recently experienced this first hand when a missed lien extended its foreclosure by more than three years—a mistake t…
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Appellate Law Update: Courts Can’t Modify Garnishments Without Reason
October 5th, 2016
Contributor: Michael D. Stultz
If you work for an Ohio bank or credit union, you’ve probably tried to garnish a debtor’s wages. If so, you’ve likely run into a court that reduced the amount you can take per pay period. For example, it’s common for some courts to reduce the…
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Stultz & Stephan Attorneys to Present Breakout Session at the 2016 OBL Annual Meeting
October 2nd, 2016
Restrictive covenant agreements are important tools to protect the investment of Ohio’s community banks in key employees. Join attorneys Karl Kerschner and Mike Stultz from Stultz & Stephan, together with Paul Bittner from Ice Miller for a roun…
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Stultz & Stephan to Offer Seminar Detailing Ohio's New Fast Track Foreclosure Law
August 18th, 2016
The half day program led by Michael Stultz, partner with the Stultz & Stephen law firm, will provide all you need to know about Ohio’s new foreclosure law and how to update your financial institution’s practices to take advantage of i…
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Ohio’s Lenders Score Major Win in Secured Transactions: A Review of Recent Appellate and Ohio Supreme Court Authority
May 24th, 2016
Contributor: Michael D. Stultz
Authority is the engine of effective business lending. Without it, businesses are powerless to act. They cannot borrow, offer collateral, or even sign loan documents. So how do inanimate, formless businesses borrow money? They do so through people—…
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Karl Kerschner to Lead 2nd Annual OBL Senior Lender Forum
January 12th, 2016
The 2016 OBL Senior Lender Forum for Community Bankers will again offer an ongoing platform for senior lenders to discuss relevant topics and exchange ideas relating to the lending functions within their organizations. The forum, which will be facili…
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Preserving Creditors’ Rights in Tax-Foreclosure Sales: A Review of Recent Ohio Supreme Court Authority
November 1st, 2014
Contributor: Michael D. Stultz
Mortgage loans are the lifeblood of lending in Ohio. They provide relatively safe, steady income to financial institutions while offering borrowers ready access to one of life’s necessities. But mortgage lending is not without its complexities—we…
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