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Real Estate & Construction Updates

Read Real Estate & Construction law updates, news, and legal analysis from leading lawyers and law firms:

California’s Legislature Takes on the Housing Crisis, But is it Enough?

by Morrison & Foerster LLP on

At no time in recent history has the California Legislature passed more housing-related bills than it did late last month. On September 29, 2017, Governor Jerry Brown signed a package of 15 housing bills intended to bring...more

The 2017 Amendments to the Affordable Housing Land Use Appeals Act, General Statutes § 8-30g (Public Act 17-170)

by Shipman & Goodwin LLP on

Every year since 1990, when the Connecticut General Assembly first enacted the Affordable Housing Land Use Appeals Act, General Statutes § 8-30g, legislators have filed bills to repeal it, gut it, or substantially amend it. ...more

Orrick's Financial Industry Week In Review

SEC Proposes Rules to Implement FAST Act Mandate to Modernize and Simplify Disclosure - On October 11, 2017, the Securities and Exchange Commission (SEC) proposed amendments "to modernize and simplify disclosure...more

Alabama and Mississippi Insurance Law Questions Following Hurricane Nate

Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more

CFPB Issues Last-Minute Changes to Mortgage Servicing Rules

by Alston & Bird on

As we previously reported, on October 19, 2016, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register final amendments to its Mortgage Servicing Rules (Final Rule). The Final Rule, weighing in at...more

Unique, But Not Unusual: First District Affirms CEQA Exemptions and General Plan Consistency Finding For Three-Unit Infill Condo...

by Miller Starr Regalia on

While “agree[ing] with appellant that Telegraph Hill is outstanding and unique in a city of outstanding and unique places[,]” the First District Court of Appeal nonetheless affirmed the trial court’s order denying...more

Bellevue’s Downtown Livability Initiative

Nearly five years after the Bellevue City Council commenced the Downtown Livability Initiative, the Council brought the initiative full circle by unanimously adopting a substantially revised, 190-page downtown land use code....more

Restrictive Covenants: The Impact on Washington Condo Owners

In 2017, the Washington Supreme Court issued a significant decision related to restrictive covenants affecting condominium units. It reaffirmed the importance of timely challenging of an amendment to condominium covenants, in...more

Mortgage Foreclosure Alert: Attaching Promissory Note in Illinois Sufficient to Show Standing; but HUD Letters Require Proof of...

by Hinshaw & Culbertson LLP on

In a foreclosure action, the Illinois Appellate Court recently held that the foreclosing lender established its standing by attaching the blank-indorsed note to its complaint, but reversed judgment and remanded for the trial...more

The Governor’s Housing Package - Affordable Housing Production in California Gets a Boost from Sacramento

by Best Best & Krieger LLP on

A package of 15 new housing bills will have far-reaching implications for every city in California. Collectively, these new laws are meant to significantly boost affordable housing production by removing local land use...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

American Express Chair and CEO Kenneth Chenault announced that he’s stepping down next year after 16 years at the helm of AmEx. He’ll be succeeded by Vice Chair Stephen Squeri....more

Governor Brown Signs Major Housing Package Into Law

by Coblentz Patch Duffy & Bass on

On September 29, 2017, Governor Brown signed into law a 15-bill housing package. The housing package did not include AB 915, which would have authorized the City and County of San Francisco to impose local inclusionary...more

Osceola County Proposes Development Moratorium of Three to Six Months to Implement Changes to Land Use Standards

On Monday, October 16, 2017, the Osceola County Board of County Commissioners voted (4-1) to direct County staff to draft a moratorium ordinance that would postpone County approval of new development applications for three to...more

California Building Owners and Contractors: Act before January 1, 2018, to Minimize Risks of Non-Paying Subcontractors

by Allen Matkins on

This past weekend Governor Brown signed AB 1701, a bill that requires direct contractors to pay any wages, fringe benefits, or other benefit payments or contributions owed by a defaulting subcontractor, plus interest. This...more

Federal Court Holds That Under Louisiana Law, Actual Notice Of Cause Of Delay Satisfies Contractual Notice Requirement Despite...

by Pepper Hamilton LLP on

Parkcrest Builders, LLC v. Hous. Auth. of New Orleans, 2017 U.S. Dist. LEXIS 125012 (E.D. La. August 8, 2017) - The Housing Authority of New Orleans (“the Authority”) contracted with Parkcrest Builders, LLC (“Parkcrest”)...more

Banking agencies identify key HMDA data fields

by Ballard Spahr LLP on

The federal banking agencies have issued guidance to financial institutions on the key data fields under the revised Home Mortgage Disclosure Act (HMDA) rules that will be used to test and validate the accuracy and...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending October 6 & 13, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE - Ad Valorem Taxes: land lease holders are considered equitable owners of land for tax purposes if land lease renews automatically and is perpetual; owners of condominium...more

CFPB further updates HMDA Rule guidance materials

by Ballard Spahr LLP on

The CFPB recently posted on its website updated versions of guidance in connection with the revisions to the Home Mortgage Disclosure Act (HMDA) rules that become effective on January 1, 2018, and also posted a new guidance...more

CFPB provides update on HMDA platform

by Ballard Spahr LLP on

In August 2017, we reported that the CFPB had given the mortgage industry a first look at the Internet-based platform it is developing for industry members to use to submit data under the Home Mortgage Disclosure Act (HMDA)....more

Oregon to Add Licenses to NMLS and Adopts Electronic Surety Bonds

by Ballard Spahr LLP on

Starting on November 1, 2017, the Oregon Division of Financial Regulation will accept applications for the Mortgage Servicer License and the Debt Buyer License on NMLS. The checklists for these licenses will be available here...more

The Bird’s Eye View of the 1033 Exchange

Although many people are aware that real property held for business or investment may be exchanged for other, “like-kind” real property (and certain personal property) while deferring recognition of gain or loss for income...more

Professional Liability and Disciplinary Law Newsletter - October 2017 (Dutch)

by Dentons on

Valued readers - With pleasure, I will send you our monthly newsletter in the field of professional liability and disciplinary action. In this edition we pay attention to two developments in the city of Amsterdam (realtors...more

Illinois Revises Residential Mortgage License Act Provisions

by Ballard Spahr LLP on

The Illinois Department of Financial and Professional Regulation adopted rules to repeal and amend parts of the Residential Mortgage License Act, including, but not limited to...more

House Prioritizes Housing Finance Reform

by Goodwin on

On October 3, 2017, the U.S. House of Representatives’ Financial Services Committee conducted a hearing on possible housing finance reform measures titled “Sustainable Housing Finance: An Update from the Director of the...more

Issues to Consider in Rights of First Refusal

by Ward and Smith, P.A. on

People often talk about giving or getting a Right of First Refusal ("ROFR") in real estate transactions. But what is a ROFR? A simple definition might be...more

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