Real Estate & Construction Updates

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Update: California Supreme Court Oral Arguments

Today, the California Supreme Court heard oral arguments in the Property Reserve v. Superior Court case. Today was also the day the Court began showing live webcasts of oral arguments online, so I was able to not only hear...more

Blockchain Basics: A Primer - Blockchain, the technology underlying the cryptocurrency Bitcoin, is poised to revolutionize how all...

You have probably heard of Bitcoin, a peer-to-peer, non-governmental currency. Bitcoin is the first money that is its own payment system. That is, no bank, money transmitter or intermediary of any kind is required to clear...more

Justice Friedman of the New York Supreme Court Dismisses Two FHFA Repurchase Actions

On April 12, 2016, Justice Marcy Friedman of the New York Supreme Court granted motions to dismiss in two RMBS breach of contract actions filed by FHFA against Morgan Stanley ABS Capital I Inc. (“MSAC”) and Morgan Stanley...more

West Coast Real Estate Update: May 2016

IRS Reevaluates "Bad Boy" Carve-Outs - Before providing a non-recourse loan to a Limited Liability Company (LLC) – i.e., one for which the LLC members do not bear the risk of economic loss – a lender often will require...more

Are Private Development Projects Covered by Prevailing Wage Laws?

When a governmental entity contracts with a general contractor to build a community center on government-owned land, the question of whether prevailing wages are required for workers on that project is easily answered. If...more

Borrowers Misuse RESPA Notice of Error Letter

Effective January 10, 2014, the Consumer Financial Protection Bureau (CFPB) amended Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA). These provisions address, among other things, a servicer’s...more

Foreclosure Protection for Service members Extended by Congress

In 2008 Congress passed legislation which extended the protection from foreclosure actions for active duty servicemembers for up to 9 months after the end of a servicemember’s military service. In 2012, Congress extended...more

CFPB Proposes Amendments to Mortgage Servicing Rules Under RESPA and TILA

On April 26, the CFPB published a proposed rule regarding potential amendments to certain mortgage servicing provisions in RESPA (Regulation X) and TILA (Regulation Z). The recently issued proposed rule reopens the comment...more

Significant Developments in Canadian Energy – For the month of April 2016

Conventional - April 21, 2016 – The Alberta government announced the technical formulas that will be used to calculate royalties and payout cost allowances on oil, natural gas, propane and butane starting in 2017....more

Ninth Circuit Upholds Ruling in Favor of CFPB against Lawyer in Mortgage Relief Scam, Rejects Constitutional Challenge to Director...

The Ninth Circuit recently considered arguments relating to an enforcement action brought by the Consumer Financial Protection Bureau (CFPB) against a California attorney who was offering loan modification services. The CFPB...more

CFPB publishes two resources for small creditors

The CFPB recently published a fact sheet for small creditors operating in rural or underserved areas. As we have reported, the CFPB issued a final rule, which became effective on January 1, 2016, revising the definitions of...more

Short-Term Rentals Spur Discord at Neighborhood Level

The debate over short-term vacation rentals is increasingly pitting neighbor against neighbor. Despite the failure of San Francisco’s high-profile Proposition F, which would have limited short-term rentals to 75 days per year...more

Problems With the CFPB’s Argument: An Analysis of the D.C. Circuit Oral Arguments on Statute of Limitations

What began as a challenge to the Consumer Financial Protection Bureau’s (“CFPB”) $109 million enforcement ruling against the mortgage company PHH Corp. (“PHH”) for alleged violations of the Real Estate Settlement Procedures...more

CFPB Signals Coming Amendments to TRID Rule

In an April 28, 2016, letter to mortgage industry trade groups,1 the Director of the Consumer Financial Protection Bureau (“CFPB”), Richard Cordray, signaled that the agency plans to propose amendments to the TILA-RESPA...more

CFPB Director Offers Cold Comfort on TRID

The Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosure (TRID) Rule took effect October 3, 2015. The TRID Rule requires two new forms – the Loan Estimate and Closing Disclosure – in connection with...more

Final 2015 Cook County Equalization Factor Released

On Thursday, the Illinois Department of Revenue released the final 2015 Cook County equalization factor. The multiplier for 2015 is 2.6685. As the following chart demonstrates, the final Cook County equalization...more

Getting into a fix over landlord's fixtures and fittings

The recent Court of Appeal decision in South Essex Partnership University NHS Foundation Trust v. Laindon Holdings Ltd [2016] EWCA Civ 377 is a useful reminder that landlords should consider the interplay between the...more

Competition Tribunal Finds Toronto Real Estate Board Engaged in Abuse of Dominance

Last week, the Competition Tribunal (Tribunal) issued a summary of its decision in the Commissioner of Competition’s (Commissioner) long-running abuse of dominance case against the Toronto Real Estate Board. This case...more

Not Starry-Eyed: Massachusetts Imposes Rigorous Standard on Fair Housing Disparate Impact Claims in Burbank Apartments

The Massachusetts Supreme Judicial Court (“SJC”) recently answered the question of whether the Massachusetts anti-discrimination statute Chapter 151B recognizes a disparate impact theory of discrimination. In Burbank...more

Michigan Consumer Protection Act Claims Do Not Require Proof of Intent to Deceive

Because the Michigan Consumer Protection Act (MCPA) was derivative of common law fraud, many have argued that all claims brought under the MCPA require a plaintiff to prove fraud-like elements in order to create liability...more

City of Perris v. Stamper Oral Arguments Are Next Week

If you are an eminent domain junkie like us, then you will appreciate knowing that the City of Perris v. Stamper case (S213468) will be heard by the California Supreme Court on May 5, 2016, at 9:00 a.m. in San Francisco. As a...more

Mortgage Industry Scores Big Nevada Supreme Court Win in Continued Battle over HOA Super-Priority Liens

The mortgage lending community was dealt a serious blow in September 2014, when the Nevada Supreme Court held that an HOA’s foreclosure of its nominal super-priority lien could extinguish a first lien interest in SFR...more

Land Use Matters: Alston & Bird LLP, April 2016

Land Use Matters provides information and insights into legal and regulatory developments, primarily at the Los Angeles City and County levels, affecting land use matters, as well as new CEQA appellate decisions. Please...more

Landmark Discrimination Case: Fair Housing Act Thwarts NIMBYs - Avenue 6E Investments, LLC v. City of Yuma (March 25, 2016)

Why It Matters: The Ninth Circuit Court of Appeals reversed a decision in favor of the City of Yuma, Arizona, and concluded instead that there was sufficient evidence to present to a jury that the City had rejected the...more

CA State Legislature Clamps Down on Residential Treatment Centers

The existence of residential sober living homes and other treatment centers located in residential neighborhoods has recently attracted the attention of many media outlets and has become a hot button topic on both sides of...more

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