Real Estate & Construction Updates

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CFPB Issues Rule on Mortgage Guidelines for Special Classes of Creditors

The Consumer Financial Protection Bureau (“CFPB”) this week issued a final rule making a series of changes to its mortgage guidelines for small creditors and creditors in rural and underserved communities....more

The Location Release Agreement: Know Your Lines

Thanks to the state’s generous productions incentives, filmmakers are scouting Georgia locations like never before. Makers of feature films, television series, commercials and music videos are knocking on doors, seeking...more

Secured Lenders – Stay on Top of the Law or Proceed at Your Own Risk

For years, the typical post-default strategy of secured lenders has been to foreclose the collateral through the power-of-sale contained in the deed of trust, credit the foreclosure proceeds to the outstanding loan balance,...more

September 2015: Product Liability Litigation Update

Ninth Circuit Restricts Scope of CAFA’s “Local Single Event” Exception. In Allen v. Boeing Co., 784 F.3d 625 (9th Cir. 2015), the Ninth Circuit recently held that a case did not fall within the Class Action Fairness Act’s...more

Buyers of Mississippi Real Property Relieved of Liability Nonresident Seller Tax Withholding

The responsibility for withholding, reporting, and paying tax on the gain realized on the sale of real property by a seller who is not a resident of the State of Mississippi is now back where it belongs: with the seller. ...more

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Florida Court Confirms Substantial Compliance Standard Concerning Foreclosures

The Florida Second District Court of Appeal recently issued a long-awaited opinion in Green Tree Servicing v. Milam. Until this decision, the district courts in Florida had not spoken directly on the issue of whether strict...more

U.S. Supreme Court Allows Disparate-Impact Claims Under Fair Housing Act

In a recent holding, the U.S. Supreme Court determined that discrimination claims under the Fair Housing Act (FHA) may be premised on "disparate impact," meaning that a plaintiff may challenge a practice even if it was not...more

TRID: New Requirements for Real Estate Closing Disclosures Are Here, Will There be A Grace Period?

It’s finally here. Over the weekend, the Consumer Financial Protection Bureau’s (CFPB) long awaited and oft delayed integration of the disclosures required by the Federal Truth in Lending Act (TILA) and Real Estate...more

Southern District of Florida Rejects Borrower Attempts to Hold Mortgage Servicers Liable for Alleged Deficiencies in Responses to...

Increasingly in courts around the country, borrowers have attempted to transform the Real Estate Settlement Procedures Act (RESPA), along with its implementing regulation (Reg. X), into a “Gotcha!” device through which...more

Amendments Relating to Small Creditors and Rural or Underserved Areas Under the Truth in Lending Act (Regulation Z)

The CFPB is amending certain mortgage rules issued by the Bureau in 2013. This final rule revises the Bureau’s regulatory definitions of small creditor, and rural and underserved areas, for purposes of certain special...more

CEQA Guidelines Comments: Once In a Generation Chance

The California Environmental Quality Act (CEQA) directs that certain proposed projects undergo environmental review to assess and mitigate significant environmental impacts. The CEQA Guidelines provide procedures and...more

Fixing Your Mistakes: Henia Investments v Beck Interiors

Since 2011, Employer and Contractors have been living with the payment regime prescribed by the updated Housing Grants, Construction and Regeneration Act 1996. This regime amounts to strict liability for the payer – if...more

Hotel Lawyer on EB-5 developments? What’s happening with EB-5 renewal legislation?

EB-5 is at a critical renewal point. The next 3 weeks are going to be crucial for the EB-5 industry as the current legislation sunsets on September 30, 2015. While the consensus is that this important program will be...more

HUD, FDIC, and U.S. Attorney File Suit Against Mortgage Lending Companies

On September 28, HUD, the FDIC, and the U.S. Attorney for the Eastern District of New York filed suit against a non-profit housing counseling corporation and certain mortgage lenders for allegedly running a scheme to defraud...more

New report offers toolkit for inclusionary housing programs

The Lincoln Institute of Land Policy recently released “Inclusionary Housing: Creating and Maintaining Equitable Communities,” a new report on the use of government policies that tie the creation of affordable housing to...more

(UK) New Rules for ASTs

The snappily titled Assured Shorthold Tenancy Notice and Prescribed Requirements (England) Regulations 2015 come into force 1st October 2015....more

Real Estate and Land Use - September 2015 #2

Use It or Lose It: San Clemente Required to Refund $10 Million in Unused Impact Fees: Walker v. City of San Clemente (August 28, 2015, G050552) - Why It Matters: In a strict reading of a local agency’s...more

Hudson City Savings Bank Reaches Largest Mortgage Redlining Settlement in DOJ History

The CFPB, DOJ, and Hudson City Savings Bank, F.S.B. (“Hudson City”) recently entered into the largest residential mortgage redlining settlement in DOJ history. On September 24, 2015, the parties filed a Joint Motion for Entry...more

Constitutional Clarification for Nevada HOA Super-Priority Foreclosures

Since the Nevada Supreme Court’s infamous decision in SFR Investments Pool 1, LLC v. U.S. Bank, N.A. in September 2014, the mortgage community has continued to fight to save senior deeds of trust from extinguishment due to an...more

Owner of Mortgage Company Sentenced to Serve More Than 11 Years for Role in $64 Million Mortgage Fraud Operation

On September 24, the DOJ released a statement regarding the sentencing of the owner of a Florida mortgage company for allegedly organizing a mortgage fraud scheme. In July 2015, the owner, along with his business partner and...more

Appellate Court Notes

Appellate Court Advance Release Opinions: AC36390 - Folsom v. Zoning Board of Appeals - Trial court properly granted a motion to strike a direct lawsuit by a disgruntled neighbor against the Town Zoning Enforcement...more

Have You Considered A Reverse Mortgage?

Are you at least 62 years of age and have 50% or more equity in your primary residence? Then the reverse mortgage, also referred to as a home equity conversion mortgage, is something you might want to think about. Reverse...more

Real Property, Financial Services & Title Insurance Update: Week Ending September 25, 2015

REAL PROPERTY UPDATE - Foreclosure/Standing: plaintiff failed to meet the requirement of pre-suit ownership for standing where, although assignment contained a purported effective date before complaint was filed, it was...more

Fifth Circuit Rejects FCA Case Based On Purported Improper Legal Billings

Although litigants frequently contend that the opposing party’s arguments are without factual or legal support, it is uncommon and unconventional for a litigant to contend that the opposing party has violated the FCA by...more

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