Administrative Agency Residential Real Estate

Read need-to-know updates, commentary, and analysis on Administrative Agency issues written by leading professionals.
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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

Is it the End of the Story for Redevelopment in California?

Long, long ago (in 2012 to be exact) in a land not so far away (also known as California), legislation which allowed local governments to establish redevelopment agencies tasked with eliminating blight through the...more

Colorado Supreme Court Oral Argument Held in Case Deciding Whether Courts and Commissions May Overrule Each Other in Eminent...

In June, the Colorado Supreme Court held oral argument in a case that is set to shape the way condemnation actions will be tried to commissions in the future. In Colorado, a landowner has the right to choose whether a jury or...more

HUD’s Proposal to Terminate FHA Insurance Policies Could Terminate the FHA Program

If there is anything that galls servicers of government-insured loans, it is the forfeiture or curtailment of all accrued interest from mortgage insurance claims resulting from the failure to foreclose fast enough within...more

Upper Tribunal Finds That Individual Lacked Integrity Due To Recklessness

In this case report, we consider the decision of the Upper Tribunal (Tax and Chancery Chamber) in Ghanshyam Batra v Financial Conduct Authority [2014] UKUT 214 (TCC), in which the Upper Tribunal upheld the FCA's decision to...more

HUD issues final rule modifying portability process in HUD’s Housing Choice Voucher Program

Effective September 21, amendments to HUD’s Housing Choice Voucher (HCV) Program – the government’s largest program for assisting low-income, elderly, and disabled populations in the private housing market – will change the...more

Massachusetts Proposes New Rules for Nursing Home Sales and Closures

Massachusetts regulators recently announced new rules that, if adopted, will change the requirements for nursing home sales and closures in the state. The proposed new rules require nursing home owners intending to sell a...more

MERS: Better Than a Faster Horse

MERSCORP, Inc. (“MERS”) has been under fire for years. We wrote about it a while back when residential mortgage borrowers challenged the ability of MERS to foreclose on mortgages it held on the theory that MERS, as a mere...more

DA Finds Digital Serial Meeting Created By Public Official Choosing to “Reply All”

A “reply all” email among public officials has led to a warning from prosecutors about Brown Act violations and serves as a reminder to keep open meeting laws in mind when talking online....more

PHH Fine on Hold, Says D.C. Circuit

On August 3, 2015, the D.C. Circuit Court of Appeals entered an order staying Consumer Financial Protection Bureau (CFPB) Director Richard Cordray’s June 4, 2015, order imposing injunctive relief and disgorgement of over $109...more

ABA seeks supervisory and enforcement standards consistent with Inclusive Communities

The American Bankers Association has sent a letter to the DOJ, Fed, OCC, FDIC, HUD and CFPB requesting confirmation “in interagency guidance, updated exam procedures, and where appropriate amended regulations that the...more

Flushing Out the Safe Harbor: “General Land Area Minimum” Offers Newton No 40B Shelter

Municipalities long unable to achieve ten percent affordable housing are now turning more frequently to a different Safe Harbor to block development of low and moderate income housing – compliance with the “General Land Area...more

New Law Establishes A Bill Of Rights For CCRC Residents And Streamlines Several Statutory Requirements For CCRCs

On June 23, 2015, Governor Malloy signed into law Public Act. No. 15-115, An Act Establishing a Bill of Rights for Residents of Continuing-Care Retirement Communities ("the Act"). The Act establishes several protections for...more

CFPB officially moves TRID effective date to October 3

The CFPB has issued a final rule postponing the effective date for all provisions of the TILA-RESPA Final Rule and Amendments to October 3, 2015. The final rule also includes certain technical amendments to reflect the new...more

OCC Identifies Safety and Soundness Risks to National Banks and Federal Savings Associations and Supervisory Priorities

A new report issued by the federal Office of the Comptroller of the Currency (OCC) identifies top safety and soundness risks to national banks and federal savings associations, as well as OCC supervisory priorities for the...more

CFPB Enforces RESPA in its First Appellate Decision of the Director

In the first appeal of an administrative enforcement proceeding before the Consumer Financial Protection Bureau (“Bureau”), the administrative law judge (ALJ) concluded that PHH Corporation, a mortgage lender, referred...more

CFPB Issues Final Decision in In Re: PHH Corp.: First Agency Decision in Contested Administrative Proceeding

Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued the Director’s final decision in the CFPB’s enforcement action against PHH Corp. (PPH). The decision is the agency’s first ruling in a contested...more

CFPB and Florida AG Obtain Judgment Against Law Group and Corporate Affiliates for “Mass-Joinder” Foreclosure Relief Scam

On May 29, a final order was entered against a law group and its corporate affiliates in an action brought by the CFPB and the State of Florida. The July 2014 complaint alleged that the law group and its affiliates violated...more

CFPB takes aim (again) at loan originator compensation

Two days after announcing a proposed consent order with a mortgage company and its CEO to settle charges that the company paid bonuses and higher commissions to loan officers in violation of the Regulation Z loan originator...more

CFPB Director Cordray Issues First-Ever Agency Appellate Decision in RESPA Case

The Director of the Federal Consumer Financial Protection Bureau (CFPB), Richard Cordray, issued a decision yesterday in the first appeal of a Bureau administrative enforcement action. Cordray’s decision upholds in part,...more

CFPB Orders Mortgage Originator to Pay $19 Million for Steering Violations – CEO to Pay $1 Million

The CFPB filed a complaint in federal district court against RPM Mortgage, Inc. and its CEO, Erwin Robert Hirt, for illegally paying bonuses and higher commissions to loan originators to incentivize them to steer consumers...more

CFPB settles loan originator compensation case

The CFPB has entered into a proposed consent order with a mortgage company and its CEO to settle charges that the company paid bonuses and higher commissions to loan officers in violation of the Regulation Z loan originator...more

B.C. Court of Appeal Overturns Restrictive Public Disclosure Standards for Development Projects

The City of Vancouver and Brenhill Developments Ltd. successfully appealed the January 27, 2014, decision of the BC Supreme Court (BCSC) in Community Association of New Yaletown v Vancouver (City), 2015 BCSC 117. The appeal...more

Weekly Update Newsletter - May 2015 #5

GOVERNMENT CONTRACTS - DoD, GSA, and NASA Issue Proposed Rule to Amend FAR: Contractors Performing Private Security Functions - The Department of Defense (DoD), General Services Administration (GSA), and...more

Ballard Spahr provides comments to HUD’s proposed rule on Section 3 regulations

As a follow up to our March 24, 2015 and April 1, 2015 posts, the U.S. Department of Housing and Urban Development (HUD) published a notice updating the interim regulation at 24 CFR Part 135, which provides for compliance...more

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