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General Business Nonprofits Residential Real Estate

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

Court Holds That Board Of Trustees Of A Nonprofit Do Not Owe The Same Duties As A Trustee Of A Trust

by Winstead PC on

In Young v. Heins, Young brought third-party claims against the board of trustees of a nonprofit home owner association for breach of fiduciary duty, breach of the duty of good faith and fair dealing, breach of contract,...more

Massachusetts Issues Industry Letter On Applicability of MLO Licensing to Individuals Employed by Nonprofit Entities

by Ballard Spahr LLP on

On June 15, 2017, the Massachusetts Division of Banks (Division) issued an industry letter to clarify when an employee of a nonprofit agency is required to obtain a mortgage loan originator (MLO) license. The Division...more

Condominium Issue with Long-Term Tax-Exempt Bond Financing

by Ruder Ware on

We recently helped a client complete long-term tax-exempt bond financing of a portion of a mixed-use condominium. These projects raise interesting issues. Long story short, if you find yourself in a similar situation, you...more

Iris House Provides Valuable Reminder to Landlords About Non-Profit Renters

Recently, the Supreme Court, Appellate Term, First Department, handed down a decision affirming the lower court in 2363 ACP Pineapple, LLC v. Iris House, Inc, 2017 NY Slip op 27047. As the attorney on this case, Michael D....more

Florida’s Immune System: No First-Party Bad Faith Claims Against The State-Created Property Insurer

by Carlton Fields on

Earlier this month, in Citizens Property Insurance Corp. v. Perdido Sun Condominium Association, Inc., No. SC14-185 (Fla. May 14, 2015), the Supreme Court of Florida held that the immunity from suit granted to Citizens under...more

Rating Agency Developments

On June 1, DBRS released its RMBS Insight 1.2: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology. On June 1, Fitch released its U.S. RMBS Surveillance and Re-REMIC Criteria. On June 1, Moody’s issued...more

High Court Affirms Theater, Church’s Entitlement to State’s “Mandatory” Property Tax Exemption

by Bond Schoeneck & King PLLC on

The Court of Appeals, New York’s highest court, recently published decisions in the Maetreum of Cybele v. McCoy and Merry-Go-Round Playhouse, Inc. v. Auburn cases. In these decisions, the Court affirmed that the exemptions...more

Massachusetts Sues Fannie and Freddie for Blocking Home Buybacks

by Bilzin Sumberg on

Earlier this month, Massachusetts Attorney General Martha Coakley initiated an action against Fannie Mae, Freddie Mac and the Federal Housing Finance Agency for allegedly illegally impeding non-profit foreclosure buyback...more

Rules Creating Exemptions to the ATR Rule Finalized

by Poyner Spruill LLP on

The Consumer Financial Protection Bureau (CFPB) recently finalized rules that modified and created specific exemptions to the CFPB’s Ability-to-Repay Rule. The rules have three main effects....more

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

by Pepper Hamilton LLP on

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

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