Real Estate & Construction Updates

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

Federal Court in Pennsylvania Strikes at the Heart of the Residential Mortgage System; Can Commercial Syndicated Loans and...

On June 30, 2014, the United States District Court for the Eastern District of Pennsylvania issued an important decision on Pennsylvania’s recording statutes in the case of Montgomery County, Pennsylvania, Recorder of Deeds,...more

The Full Credit Bid at a Foreclosure Sale: Don’t Make One Without the Advice of Knowledgeable Counsel

While the Great Recession appears to be slowly receding, rising oil costs and other price increases threaten to choke off what had appeared to be an economic recovery. Accordingly, foreclosures may become more frequent in the...more

The California Supreme Court Decides In Favor Of Homeowners In Disputes With California’s Architects

In the case of Beacon Residential Community Association v. Skidmore Owings and Merrill et. al. (July 3, 2014, S208173) Cal.4th, a condominium homeowners association, sued the developer of the project and the project architect...more

Argument That Rain Alone Can’t Cause a Flood “Would be News to Noah” Says a California Court

Last month an appellate court in California looked to the Bible, citing the Book of Genesis when rejecting the argument that an inundation caused solely by heavy rain was not an excluded flood. The opinion was handed down in...more

New Rules For Casual Residential Real Estate Investors

During the Great Recession, many savvy investors and entrepreneurs took advantage of plummeting home prices and low interest rates by buying up and leasing residential real estate. Owners did not need to worry about...more

Credit Crunch Digest

This issue of the Credit Crunch Digest focuses on ongoing civil lawsuits and regulatory investigations into Libor manipulation by large banks, including the possible imposition of new criminal penalties by U.K. authorities...more

3 Red Lights And 3 Green Lights For Non-US Investors In US Real Estate: Tax Challenges And Solutions

Investment in US real estate by non-US investors is increasing. Non-US investors acquired almost $23 billion in US real estate, representing a 9% increase over 2012 and accounting for 13% of all real estate transactions in...more

CFPB Clarifies Heirs, Divorcees and Estate Planning Transferees Are Not Subject to Ability-to-Repay Rules

The CFPB issued an interpretive rule to clarify that when a borrower dies, the name of the borrower’s heir generally may be added to the mortgage without triggering the Bureau’s Ability-to-Repay rule. This clarification will...more

Appellate Court Notes

SC19047 - Commissioner of Public Safety v. Freedom of Information Commission - 1994 legislation that expanded the disclosure requirements of law enforcement agencies beyond just the name, rank & serial number of the...more

Real Property, Financial Services, & Title Insurance Update

Foreclosure: reservation of jurisdiction in final judgment to determine amount of attorneys’ fees renders that portion of judgment non-final and non-appealable – BAC Home Loans Servicing LP v. Ridgway, No. 1D13-3853 (Fla. 1st...more

InfoBytes Special Alert: CFPB Guidance States That Successors Are Not Subject To The ATR/QM Rule

On July 8, 2014, the CFPB issued an interpretive rule stating that the addition of a successor as an obligor on a mortgage does not trigger the Ability-to-Repay/Qualified Mortgage Rule (“ATR/QM Rule”) requirements if the...more

Legislature Enacts “5 Second Rule” For Electronic Contracts To Sell Real Property

The Statute of Frauds has been a part of Anglo-American jurisprudence for centuries. It made its first appearance in the wake of the English Civil War (yes, they had one too but for very different reasons) when King Charles...more

Bankruptcy Court Sheds Light on MA Homestead Protection of Downstream Trust Beneficiaries

Suppose the following: Title to a home is held by Trust A. The beneficiaries of Trust A are three natural persons and Trust B. Trust B holds a 25% beneficial interest in Trust A. The sole beneficiaries of Trust B are Mom...more

Julián Castro is confirmed as next HUD Secretary

With a resounding 71-26 vote, the Senate has confirmed Julián Castro as the 16th Secretary of Housing and Urban Development. President Obama’s nomination of Mr. Castro replaces outing Secretary Shaun Donovan, who was in turn...more

Disclosure By Developer Binds Condo Purchasers

Condominium purchasers often do not read the Disclosure documentation which accompanies their Agreement of Purchase and Sale. The Disclosure documentation is important because it contains information which may have an impact...more

FinCrimes Update - Summary, Volume 1, Issue 4

FDIC RESTRICTS BANK’S CARD BUSINESSES PENDING BSA COMPLIANCE ENHANCEMENTS - On June 5, the FDIC and a Delaware bank entered a consent order that prohibits the bank from entering into any new relationships with...more

Too Little, Too Late: Seventh Circuit Reaffirms the Limits of a Registration Proceeding Under 28 U.S.C. § 1963

In Goldman v. Gagnard, No. 12-2706 (June 27, 2014), the Seventh Circuit (in an opinion authored by Judge Tinder) waded into a long-running, continent-spanning dispute, which it characterized as “Dickensian” in character,...more

New Jersey Bill Requires Creditors to Maintain Vacant Property During Pending Foreclosures

Effective July 14, 2014, New Jersey municipalities will be authorized to penalize creditors who do not address code violations or abate nuisances on vacant or abandoned residential property subject to a pending foreclosure...more

Court Confirms Bank Can Be Held Liable for Conduct and Representations Occurring During Loan Modification Process

A California Court of Appeal recently held that a defaulting mortgagee can assert claims for breach of contract, wrongful foreclosure, unfair business practices and negligent misrepresentation against the foreclosing bank...more

Summary of HUD’s LEAN 232 Program E-Mail Blast: Office of Residential Care Facilities (ORCF), June 26, 2014

In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more

Inspector General Report Urges FHFA To Consider Lender-Placed Insurance Suits

On June 25, the FHFA Office of Inspector General (OIG) published a report that urges the FHFA to consider whether to pursue servicers and insurers for alleged lender-placed insurance (LPI) losses. The OIG cited prior...more

Where Subdivision Access Is Uncertain, Approval of the Subdivision Must Be Contingent Upon Judicial Resolution

In the case of Shinn v. Bd. of Comm’rs of Clearwater Cnty., released June 17, 2014, the Idaho Supreme Court covered some new ground and revisited some old ground....more

CFPB Provides Guidance on Ability to Repay Rule Application to Assumptions of Residential Mortgage Loans

On July 8, 2014 the CFPB provided guidance on the application of the Regulation Z ability to repay rule (section 1026.43) to assumptions of residential mortgage loans for purposes of clarifying the application of the rule in...more

New York Court: Storm Surge is a Species of Excluded Flood

One of the most litigated issues in the Gulf States in the wake of Hurricane Katrina was whether flood exclusions bar coverage for loss by storm surge. The courts ultimately decided that the answer was yes....more

OIG audit criticizes public housing asset management

A new HUD Office of Inspector General (OIG) audit published last week levied intense criticism at HUD’s implementation of public housing asset management. Focusing on HUD’s methodology and monitoring of asset management and...more

7,984 Results
|
View per page
Page: of 320

Follow Real Estate & Construction Updates on: