Real Estate & Construction Updates

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California’s Precondemnation Right of Entry Statutes Upheld — With a Slight Judicial Tweak

For the last two-plus years, we have been waiting for guidance from the California Supreme Court on whether public agencies could utilize the statutory “right of entry” procedure to gain access to private property to conduct...more

CFPB to Release Amendments to the Mortgage Servicing Rules; Bradley Webinar to Follow | Financial Services Perspectives

The CFPB’s amendments to the mortgage servicing rules in Regulations X and Z are officially slated for release this month and we anticipate that they will come out any day now. Mortgage servicers, many of whom may feel like...more

HMDA resources for data collected in 2017 and 2018

As we have reported, the Consumer Financial Protection Bureau (CFPB) released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring “Covered Institutions” to report certain...more

Homeowners Associations – Business Judgment Rule

Palm Springs Villa II Homeowners Association, Inc. v. Erna Parth - Court of Appeal, Fourth Appellate District (June 21, 2016) - The “business judgment rule” refers to a judicial policy of deference to the business...more

Can New Federal Guidance Unlock the Residential PACE Market? We’re Almost There!

Under newly issued guidance, the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA) will begin insuring mortgages on qualifying properties with PACE assessments....more

CFPB Acts Against Lead Aggregator for Unfair and Abusive Practices

The Consumer Financial Protection Bureau (CFPB) recently filed actions against online lead aggregator D and D Marketing, Inc. d/b/a T3Leads and its co-founders alleging unfair and abusive practices in violation of the...more

CFPB, DOJ Settle Fair Lending Claims Involving Allegations of Redlining, Discretionary Underwriting and Pricing, Overt...

The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the Fair...more

CFPB: The Quarterly Review - July 2016

In This Issue: •The CFPB Speaks •Rulemaking •Debt Collection •Payday Lending •Mortgages •Upcoming in 2016 - In the second quarter of 2016, the CFPB continued its strong pace of activity, initiating two...more

Deed of Trust Provisions Allowing Lenders/Servicers to Enter, Maintain, and Secure Encumbered Properties May be Unenforceable...

On July 7, 2016, the Supreme Court of the State of Washington issued its opinion in Jordan v. Nationstar Mortgage, LLC, which, prior to foreclosure, may prevent servicers from securing property after a default or, at least,...more

Wolverine Pipe Line Company filing Condemnations in Washtenaw County for Detroit Multi Access Project

Wolverine appears to be staging the filing of lawsuits to secure rights from larger, commercial properties in Washtenaw County before implementing processes against residential properties in Wayne and Washtenaw...more

Increasing litigation in Spain regarding abusive clauses in mortgage loans

There is a growing tendency in recent years for borrowers in Spain to file claims alleging that certain provisions included in their mortgage loans are abusive or unfair. In addition, there is a very strong trend in Spanish...more

Sustainable Development Update - July 2016 #3

Sustainable Development Focus - Net-zero energy Brock Environmental Center in Virginia turns rainwater into drinking water - Inhabitat - Jul 14 - A new building in Virginia Beach is raising the bar for...more

Sixth Circuit Court of Appeals Accepts Materialization-of-Risk Standard for Loss Causation

On July 20, 2016, the U.S. Court of Appeals for the Sixth Circuit recognized the “materialization of the risk” standard as a means of proving loss causation in securities-fraud cases. The court’s decision in Ohio Public...more

Real Property & Title Insurance Update: Week Ending July 15, 2016

REAL PROPERTY UPDATE - Foreclosure/Unclean Hands: defense of unclean hands insufficient where borrower alleges bank’s loan officer inflated borrower’s income and assets to qualify for loan where borrower signed off on...more

New Abu Dhabi Real Estate Laws – Laying the Legal Foundations for Institutional Investment

The years since the global financial crisis of the last decade have witnessed a significant increase in institutional investment (for instance, by pension funds, sovereign wealth funds and insurers) into global real estate....more

New York Imposes Duty on Mortgage Lenders to Maintain “Zombie Properties” and Increases Lenders’ Exposure for Premises Liability...

On June 23, 2016, New York State enacted legislation imposing a duty on banks and mortgage companies to maintain one- to four-family residential properties abandoned by their owners before they have foreclosed on the...more

IRS Offers New Guidance on Exclusion for Sale of a Principal Residence

In the recently released Private Letter Ruling 201628002, the IRS determined that taxpayers were entitled to partial gain exclusion for the sale of their principal residence. Despite not using the property as their principal...more

Slovak mortgage loan interest rate rise invalidated

A recent Slovak ruling and consultation means that banks are likely to become more restricted in how they can make unilateral changes to mortgage loans (for example, to raise an interest rate in a floating rate loan). Slovak...more

A Little Clarity or More Lien Challenges? Lien Claims Before and After Certificate of Substantial Performance in Alberta

The recent Master’s decision in Chandos Construction Ltd v Twin Peaks Construction Ltd, 2016 ABQB 296 determined an issue under the Builders’ Lien Act (Alberta) (BLA) which, surprisingly, had never been specifically addressed...more

The Tide Rises Waterfront Development in Pennsylvania

Pennsylvania organizations hoping to increase development of public amenities and parks along Pennsylvania’s waterfronts may soon benefit from the new “Waterfront Development Tax Credit” enacted as part of Act 84, and signed...more

Midstream Contracts Remain in Doubt in Bankruptcy

By now, both producers and midstream companies are aware of the Bankruptcy Court decisions in the Sabine bankruptcy proceedings (i) rejecting the gas gathering agreements as executory contracts and (ii) determining that the...more

The New Gold Standard for Building Performance - PEER

Electricity-grid vulnerabilities were deeply exposed in the wake of Superstorm Sandy and its associated storm surge, as a single outage at a substation caused a sweeping black-out across downtown Manhattan, New York. Making...more

Brexit Will Cause Deal Flow Reduction

Britain's historic vote to exit the European Union has sent shock waves throughout the global economy and will certainly have economic and political repercussions for years. How will the vote impact U.S. real...more

Court Decision Dismisses Challenge to Gun Lake Band’s Trust Land

Last Friday, July 15, the D.C. Circuit Court of Appeals affirmed the constitutionality of the Gun Lake Trust Land Reaffirmation Act. Because the Court agreed with the D.C. District Court's finding of constitutionality, it...more

Recent Florida Legislation Will Allow for Creation of Specialty Sinkhole Coverage Lines

The Florida Legislature passed legislation this session that allows specialty limited sinkhole coverage. According to the Florida Office of Insurance Regulation, Florida has more sinkholes than any other U.S. state. As such,...more

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