Real Estate & Construction

Five-Day Extension For Mailing Applies To Deadline To File Timely Cost Bill

by David J. McMahon | Barger & Wolen on 5/22/2013

In Nevis Homes LLC v. CW Roofing Inc., 2013 DJDAR 6187(2013) the California Court of Appeal for the Second Appellate District decided a procedural issue pertaining filing a memorandum of costs. The court clarified the rules...more

Florida to Government: Your Lien Doesn't Foreclose This Old Mortgage

by Michael Starks, Sarah-Nell Walsh | Baker, Donelson, Bearman, Caldwell &... on 5/22/2013

The Florida Supreme Court has ruled that cities cannot create ordinances that subject prior recorded mortgages to their subsequently recorded county or governmental liens, because it conflicts with Florida's state statutes on...more

Georgia's Long-Awaited Ruling Finds in Favor of Lenders

by Joseph "Jay" Buller, Jonathan Green, Dylan Howard, Scott Michalove | Baker, Donelson, Bearman, Caldwell &... on 5/22/2013

Today, the Georgia Supreme Court, in You v. JP Morgan Chase Bank, N.A. et al., S13Q0040, held that the assignee of a security deed can conduct a non-judicial foreclosure sale without holding or owning the underlying...more

Commercial and Residential Developers, Builders and Landlords Face New Storm Water Regulations

by Kathryn Horning | Allen Matkins Leck Gamble Mallory & Natsis... on 5/22/2013

On May 8, 2013, the San Diego Regional Water Quality Control Board approved a new municipal separate storm sewer system (MS4) permit that will have far-reaching impacts on both new development projects and existing facilities...more

Trustee Empowered To Void Foreclosure Sale Where Error Discovered Before Delivery Of Trustee’s Deed

by Tara C. Narayanan | Miller Starr Regalia on 5/22/2013

California’s Supreme Court affirmed a trustee’s right to void a non-judicial foreclosure sale based on mistakes in the foreclosure process discovered before delivery of a trustee’s deed to the successful bidder. ...more

Freddie Mac Allows Early Streamlined Modifications; Fannie Mae Issues Streamlined Modification FAQs

by BuckleySandler LLP on 5/22/2013

On May 13, Freddie Mac announced in Bulletin Number 2013-7 that servicers can immediately begin offering modifications under the streamlined modifications initiative announced by the FHFA in March....more

Weekly Law Resume - May 16, 2013: Insurance Coverage – Duty to Defend – Vacant Property

by David L. Blinn | Low, Ball & Lynch on 5/22/2013

Travelers Property Cas. Co. of America v. Superior Court of California, County of Los Angeles - Court of Appeal, Second District (April 17, 2013) - Most insurers do not like to insure empty buildings. Consequently,...more

CFPB settles RESPA enforcement action involving affiliated business arrangements

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 5/21/2013

The CFPB has announced the settlement of an enforcement action in which it was alleged that two affiliated business arrangements (ABAs) violated Section 8 of the Real Estate Settlement Procedures Act....more

CFPB finalizes mortgage escrow rule amendments and list of “rural” or “underserved counties” and issues videos on mortgage rules

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 5/21/2013

The CFPB has issued final “clarifying and technical” amendments to its final mortgage escrow account rule dealing with the establishment of mandatory escrow accounts on higher-priced mortgage loans (HPML)....more

HUD Issues Series Of Mortgagee Letters

by BuckleySandler LLP on 5/21/2013

Over the past week, HUD issued numerous mortgagee letters applicable to single-family mortgagees....more

Freddie Mac Introduces Low Activity Fee, Updates Numerous Seller/Servicer Requirements

by BuckleySandler LLP on 5/21/2013

On May 15, Freddie Mac issued Bulletin Number 2013-8, which includes numerous revisions to requirements for sellers and servicers. ...more

Ohio Supreme Court Holds Mortgage Servicing Not Subject To Consumer Sales Practices Act

by BuckleySandler LLP on 5/21/2013

On May 14, the Ohio Supreme Court held in response to two certified questions from a federal district court that the Ohio Consumer Sales Practices Act (CSPA) generally does not apply to mortgage servicers and servicing....more

Solicitor General files brief opposing certiorari in Mt. Holly

by Alan S. Kaplinsky | Ballard Spahr LLP on 5/21/2013

Last week, the Solicitor General finally filed his brief expressing the views of the United States on whether the U.S. Supreme Court should grant the petition for certiorari pending in Township of Mount Holly v. Mt. Holly...more

CFPB Takes Action Against Real Estate Kickbacks Under RESPA

by Stephen M. Quinlivan | Leonard, Street and Deinard - Employee... on 5/21/2013

The CFPB has ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgage origination business to Benchmark Bank and to Willow Bend Mortgage Company....more

Rogers Towers: Municipal Liens vs. Mortgages: Florida’s Supreme Court Rules on Superpriority Issue

by Douglas L. Waldorf, Jr. | Rogers Towers on 5/21/2013

In my April 18th post, I discussed the recent trend of municipalities enacting ordinances designed to give their code enforcement liens “superpriority” over prior-recorded mortgages. Basically, the municipalities have sought...more

Keys To A Successful Luxury Real Estate Transaction: Part II

by Schecter Law on 5/21/2013

After luxury real estate attorneys have reviewed the contract, a checklist of items required for the sale can help prepare for closing....more

CFPB Targets Service Provider in Real Estate Kickback Enforcement Action

by Jonathan L. Pompan | Venable LLP on 5/21/2013

The CFPB continues to use its enforcement power on service providers, including companies involved in advertising and marketing and lead generation The Consumer Financial Protection Bureau (the "CFPB") announced it...more

Kansas Repeals Recently Updated Mortgage Interest Rate Cap

by BuckleySandler LLP on 5/21/2013

Recently, Kansas enacted SB 129, which repealed a provision in the mortgage interest rate law that set a floating cap on the interest rate charged for first real estate mortgage loans and contracts for deeds....more

Preparing for the Worst: Texas SNDAs get lenders, landlords and tenants on the same page in the event of foreclosure

by Lorin Combs, Holly Magliolo | Winstead PC on 5/21/2013

Subordination, Non-Disturbance and Attornment agreements (SNDAs) allow lenders, landlords and tenants to collectively plan for the worst case scenario — foreclosure. In the event of foreclosure and in the absence of an SNDA,...more

Deed of Trust Security Prevents Merger of Estates - Legal Doctrine of Merger of Real Property Estates Will Not Defeat the...

by Delmar G. Williams | Best Best & Krieger LLP on 5/21/2013

A California Appellate Court recently determined that a lender taking a security interest in both California real property and an easement benefiting such real property by recording a deed of trust does not lose its security...more

Southern District Of New York Judge Dismisses False Claims Counts, Allows FIRREA Claims To Proceed In Major Mortgage Fraud Case

by BuckleySandler LLP on 5/20/2013

On May 8, the U.S. District Court for the Southern District of New York dismissed claims for damages and civil penalties under the False Claims Act (FCA) brought by the federal government against a mortgage lender alleged to...more

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Real Estate & Construction Updates

Five-Day Extension For Mailing Applies To Deadline To File Timely Cost Bill

Florida to Government: Your Lien Doesn't Foreclose This Old Mortgage

Georgia's Long-Awaited Ruling Finds in Favor of Lenders

Commercial and Residential Developers, Builders and Landlords Face New Storm Water Regulations

Trustee Empowered To Void Foreclosure Sale Where Error Discovered Before Delivery Of Trustee’s Deed

Freddie Mac Allows Early Streamlined Modifications; Fannie Mae Issues Streamlined Modification FAQs

Weekly Law Resume - May 16, 2013: Insurance Coverage – Duty to Defend – Vacant Property

CFPB settles RESPA enforcement action involving affiliated business arrangements

CFPB finalizes mortgage escrow rule amendments and list of “rural” or “underserved counties” and issues videos on mortgage rules

HUD Issues Series Of Mortgagee Letters

Freddie Mac Introduces Low Activity Fee, Updates Numerous Seller/Servicer Requirements

Ohio Supreme Court Holds Mortgage Servicing Not Subject To Consumer Sales Practices Act

Solicitor General files brief opposing certiorari in Mt. Holly

CFPB Takes Action Against Real Estate Kickbacks Under RESPA

Rogers Towers: Municipal Liens vs. Mortgages: Florida’s Supreme Court Rules on Superpriority Issue

Keys To A Successful Luxury Real Estate Transaction: Part II

CFPB Targets Service Provider in Real Estate Kickback Enforcement Action

Kansas Repeals Recently Updated Mortgage Interest Rate Cap

Preparing for the Worst: Texas SNDAs get lenders, landlords and tenants on the same page in the event of foreclosure

Deed of Trust Security Prevents Merger of Estates - Legal Doctrine of Merger of Real Property Estates Will Not Defeat the...

Southern District Of New York Judge Dismisses False Claims Counts, Allows FIRREA Claims To Proceed In Major Mortgage Fraud Case

Second Circuit Sides With CFPB In ILSFDA Case While Applying Auer Deference

Financial Services Legislative and Regulatory Update -- May 20‚ 2013

April Housing Scorecard

New York Appeals Court Overturns Sanction Requiring Bank To Accept Terms Of Trial Loan Modification

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