Administrative Agency Residential Real Estate

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MoFo New York Tax Insights - Volume 5, Issue 12 - December 2014

In This Issue: - ALJ Rejects New York City’s Attempt to Forcibly Combine Bank and Its Non-New York City Mortgage Subsidiary - Tribunal Amends Decision Upholding Disallowance of Nonresident Partner’s Loss from...more

St. Louis County Ordinance Requiring Pre-Foreclosure Mediation Unconstitutional, Missouri Supreme Court Holds

The Missouri Supreme Court recently ruled that a St. Louis County ordinance requiring lenders to mediate with borrowers prior to foreclosure was void ab initio because it was not directed to a matter of purely municipal...more

New Requirements Regarding Flood Insurance in Massachusetts

On July 23, 2014 , Governor Deval Patrick signed into law “An Act Further Regulating Flood Insurance”, effective November 20, 2014. Links to the Act and to “Frequently Asked Questions” prepared by the Massachusetts Division...more

Senate holds nomination hearing for HUD Assistant Secretary

Last Thursday afternoon, the Senate Committee on Banking, Housing, and Urban Affairs conducted a nomination hearing to interview San Antonio Housing Authority CEO Lourdes Castro Ramírez for the position of HUD Assistant...more

A further update on state AG/regulator lawsuits using Dodd-Frank authority

Below is an update on the lawsuits we have been following that state attorneys general and a state regulator have brought using their Dodd-Frank enforcement authority. Under Dodd-Frank Section 1042, a state AG or regulator is...more

Mississippi Regulatory Compliance Group Quarterly Report Vol. 25 No.4

In This Report: - You Need a Written Compliance Program - CFPB Amends 2014 Mortgage Rules - Proposed Changes to TILA-RESPA Integrated Disclosure - Integrated TILA-RESPA Disclosures-Compliance...more

Court Tosses HUD’s Disparate Impact Rule: Is Protection for Lenders from Disparate Impact Claims on the Horizon?

Since the 1970s, courts have routinely held that the Fair Housing Act, 42 U.S.C. §§ 3601 et seq., may remedy housing discrimination proven through use of the disparate impact theory. The doctrine of disparate impact permits a...more

Federal court strikes down HUD’s disparate impact regulations

On Monday, the United States District Court for the District of Columbia issued a scathing opinion that struck down HUD’s disparate impact rule. The disparate impact rule, also referred to as a ”discriminatory effects”...more

Court Rules Disparate Impact Claims Cannot Be Made Under Fair Housing Act

Earlier this week, a federal district court judge struck down a regulation issued by the U.S. Department of Housing and Urban Development (HUD), which would have allowed for claims of housing discrimination to be based on...more

Disparate impact on the ropes: federal district court vacates HUD rule

A federal district court in Washington, D.C. dealt a heavy blow on Monday to HUD’s position that disparate impact claims are cognizable under the Fair Housing Act (FHA). In American Insurance Association v. U.S. Department of...more

Supreme Court Finally Schedules Oral Argument In CEQA Categorical Exemption Case

At long last, the California Supreme Court has scheduled oral argument in the case of Berkeley Hillside Preservation, et al. v. City of Berkeley, Supreme Court Case No. S201116. By its long-awaited order issued October 31,...more

The RMBS Working Group: Is There Life After Eric Holder?

Financial institutions are asking what Attorney General Eric Holder’s resignation means for the future of the U.S. Department of Justice’s financial fraud enforcement program generally, and the Residential Mortgage-Backed...more

Fannie Mae Appoints Executive Vice President, General Counsel, and Corporate Secretary

On October 20, Fannie Mae announced that, effective November 10, Brian Books would serve as its executive vice president, general counsel, and corporate secretary. ...more

HUD announces $24 million available to PHAs for Jobs Plus Pilot

This week, HUD published a Jobs Plus Pilot NOFA for distribution of approximately $24 million to public housing agencies (PHAs) for a new Jobs Plus Pilot program. The pilot, a successor to a program by the same name that was...more

CFPB’s Rulemaking Process Gets Good Report Card from OIG Report with Only Minor Criticisms

A September 29, 2014 Report of the Joint Federal Reserve/CFPB Office of the Inspector General (OIG) concluded that the CFPB’s rulemaking process generally complies with the requirements of Section 1100G of the Dodd-Frank...more

Oregon Amends Mortgage Licensing Rules

On September 16, the Oregon Department of Consumer and Business Services Division of Finance and Corporate Securities adopted a rule amending several sections of the Oregon Administrative Rules related to the licensing of...more

California Cities and Counties Must Expedite Their Permitting Processes for Small Residential Rooftop Solar Systems by Sept. 30,...

Under AB 2188, recently signed by Gov. Jerry Brown, cities and counties must adopt ordinances, or amend their current ordinances, to create expedited, streamlined permitting processes for small rooftop solar energy systems....more

HUD OIG report critical of asset repositioning fee calculations

HUD’s Office of Inspector General (OIG) issued an audit of HUD last week pertaining to awards of asset repositioning fees (ARF), the funds that public housing authorities (PHAs) may receive in connection with demolishing or...more

Fifth District Reaffirms Its CEQA Historicity Rules in Citizens for the Restoration of L Street v. City of Fresno

In a published opinion filed August 29, 2014, the Fifth District Court of Appeal affirmed a judgment granting a writ of mandate and finding that the City of Fresno erred in approving a mitigated negative declaration (MND) for...more

Is It Historical Under CEQA? Court Confirms Substantial Evidence Remains the Standard

Citizens for the Restoration of L Street v. City of Fresno, et al., No. F066498,(Cal. Ct. App. 5th Dist., August 28, 2014) - In a two-part opinion, the Fifth District Court of Appeal affirmed the trial court’s judgment...more

Miami’s Future Archipelago of Floating Houses

A team of Dutch developers would like to bring a little bit of Atlantis to Miami. Earlier this month, Dutch Docklands submitted a letter of intent and request for zoning variance to the City of North Miami Beach in order to...more

EPA's Concern Over TCE Vapor Intrusion Is Misguided

On July 9, 2014, the Director of the U.S. Environmental Protection Agency's Superfund Division in Region 9 issued a memo to staff setting an “operational framework” to address “inhalation exposures [to trichloroethylene] in...more

If A Tree Falls In The City, Is It Serving A Public Purpose?

Today’s posting has nothing to do with corporate law and everything to do with trees. On November 30 and December 1, 2011, the City of Pasadena experienced an unusually violent windstorm. Wind speeds in excess of 100 miles...more

Claimant Must Exhaust Administrative Remedies Provided For In The Financial Institutions Reform, Recovery, and Enforcement Act of...

After defaulting on his Hawaii home mortgage with Washington Mutual Bank ("Wamu") and facing nonjudicial foreclosure, Todd Rundgren (Hello It's Me) and his wife, Michelle (collectively the "Rundgrens"), sued Wamu and JP...more

Remedies Against Receiver Must Be Exhausted Before Claim Against Assignee

The U.S. Court of Appeals for the Ninth Circuit affirmed the dismissal of claims brought by singer-songwriter Todd Rundgren and his wife Michelle Rundgren against JPMorgan Chase Bank, N.A. (Chase). Since the Rundgrens’ claims...more

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