Real Estate & Construction Updates

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Florida’s Supreme Court Rules in Favor of Concurrent Cause Doctrine; Reverses Second District’s Application of Efficient Proximate...

In John Robert Sebo, etc. v. American Home Assurance Company, Inc., Supreme Court case number SC14-897, the Florida Supreme Court reversed a Second District Court opinion which found the efficient proximate cause doctrine...more

Australian case update: Tiuta International Ltd v De Villiers Surveyors Ltd

SNAPSHOT - In Tiuta International Ltd v De Villiers Surveyors Ltd [2016] EWCA Civ 661, the English Court of Appeal delivered an important judgment in favour of lenders in a valuer’s negligence case, which has...more

District of New Hampshire Denies Remand Under CAFA’s Local Controversy Exception

On November 30th, in Brown v. Saint-Gobain Performance Plastics Corp., United States District Judge Joseph Laplante of the District of New Hampshire denied plaintiffs’ motion to remand two related class action lawsuits based...more

FHFA Announces Increases in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac for First Time in 10 Years

The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017 will increase to $424,100 from $417,000. While the increase is...more

Florida Supreme Court Decides that Concurrent Causes Equal Coverage

It’s said that “defeat is an orphan,” but insurable losses often have multiple, concurrent causes. In some cases, one or more of those causes might be outside the scope of coverage, either by omission or exclusion. In Sebo v....more

HUD Activity – Week of November 28, 2016

HUD Announces Nationwide Smoke-Free Policy in Public Housing - The most talked about HUD development this week has been Secretary Castro’s announcement on Wednesday, November 30th that HUD will require all public housing...more

CFPB Steps Up Oversight of Companies’ Compensation Programs Following Wells Fargo Scandal

The Consumer Financial Protection Bureau (CFPB) will likely be weakened by the incoming Trump administration and its Republican allies in Congress. Exactly how, and how much, remains to be seen, however—and, in the meantime,...more

Forfeiture: High Court grants relief after 14 months

Landlords and agents may have to look again at whether 6 months is sufficient time to allow the tenant to apply for relief, before exercising peaceable re-entry. In Pineport Ltd v Grangeglen Ltd [2016] EWHC 1318 (CH) the...more

Real Estate – Fiduciary Obligations of Multiple Agents from One Brokerage

Hiroshi Horiike v. Coldwell Banker Residential Brokerage Co., et al. - Supreme Court of California (November 21, 2016) - In real estate transactions, it is not uncommon for one agent to represent both the buyer and...more

Orrick's Financial Industry Week In Review

FHFA Announces Increase in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac in 2017 - On November 23, 2016, the Federal Housing Finance Agency (FHFA) announced an increase in the maximum conforming loan...more

Banking & Financial Services E-Note - November 2016

Employers across the country can now exhale. On Tuesday, November 22, 2016, a Texas federal court entered a nationwide injunction blocking the U.S. Department of Labor’s (“DOL”) new federal overtime rules from taking effect...more

HUD Issues Final Rule on Unlawful Hostile Environment and Quid Pro Quo Harassment

On September 14, 2016, the Department of Housing and Urban Development ("HUD") issued a final rule, "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices under the Fair Housing...more

California Amends RMLA: Federal Agency Approval Not Required For Processing and Underwriting Companies

Effective January 1, 2017, the definition of lender under the California Residential Mortgage Lending Act (RMLA) will be amended to include third-party processors and/or underwriters who do not solicit loan applicants,...more

Real Property & Title Insurance Update: Weeks Ending November 18 & 25, 2016

REAL PROPERTY UPDATE - Settlement/Waiver: borrowers permitted to raise affirmative defenses and counterclaims against lender where subject Loan Modification Agreement failed to include waiver of claims, affirmative...more

City of Chicago Imposes New Burdens on Mortgagees and Servicers Through Expanded Vacant Building Ordinance

For the last several years, the City of Chicago has rapidly expanded the scope of regulations on lenders and mortgage servicers doing business in the City. If recent developments are any indication, the City Council’s...more

New attractive real estate investment fund in Belgium

Belgium recently introduced the regulatory framework for an attractive new real estate investment vehicle, the specialized real estate investment fund (gespecialiseerd vastgoedbeleggingsfonds (GVBF) / fonds d’investissement...more

https://www.dlapiper.com/en/us/insights/publications/2016/11/real-news-autumn-2016/

Today the internet could not be more central to everything we do. It is a prime example of the impact of technology on our lives and the best illustration that we ignore technology at our peril. That applies to the old...more

Real Estate Gazette: focus on Africa’s burgeoning real estate sector and investment opportunities Issue 26

Think of Africa and chances are you will be transported to a sun-blushed savannah, where beautiful wild elephants roam across the plains. Or you may think of the monolithic churches of Ethiopia, the reggae and hip hop sounds...more

Ask the Public Adjustor: Covering Life with Wisdom*

Dear Public Adjustor: I’m often proud of my dad, like when he stood up to the PTA about The Catcher in the Rye. But lately he has me worried. He’s sacrificed an entire season’s corn crop to build a ballfield in the...more

Direct Lending Funds in Germany- Proposed Compliance Guidelines

As summarized in previous Dechert OnPoints, Germany has introduced a framework for direct lending funds in March 2016 by enacting the UCITS V Implementation Act (the "Act"). The changes implemented by the Act also allowed...more

The Rule Against Perpetuities is Alive and Enforceable in Oklahoma

Today we venture into Oklahoma, to be instructed on the Supreme Court’s treatment of the Rule Against Perpetuities. First, the Rule: No property interest is good unless it must vest, if all, not later than 21 years after...more

California Supreme Court Weighs In On “Associate Licensee” Duties In Dual Agencies

Dual agencies — where a broker represents both the buyer and seller in a real estate transaction — raise plenty of thorny questions regarding the duties owed. These questions can become even more difficult when “associate...more

Massachusetts High Court Draws Bright Line in Sand on Expansion of Easement Rights to Additional Land

In his recent blog post, “SJC Keeps Bright-Line Test for Overloading of Easements,” Pierce Atwood real estate partner Don Pinto discusses Taylor v. Martha’s Vineyard Land Bank Commission, a recent decision in which the...more

Uniform Guidance and Procurement Nearly Two Years after 2 C.F.R. Part 200

Since the joint interim final rule, 2 C.F.R. Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), became effective on December 26, 2014: - the U.S....more

HUD and DOJ Release Updated Joint Statement on “State and Local Land Use Laws and Practices and the Application of the Fair...

On November 10, 2016, the U.S. Department of Housing and Urban Development and the U.S. Department of Justice released a “Joint Statement” providing updated guidance on the application of the federal Fair Housing Act to state...more

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