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Government Contracting Residential Real Estate Finance & Banking

Read Government Contracting Law updates, articles, and legal commentary from leading lawyers and law firms:

UK Proposal for Register of Foreign Beneficial Ownership of Real Estate Continues Global Trend Toward Transparency

On 5 April 2017, the UK Department for Business, Energy & Industrial Strategy (the “Department”) issued a call for evidence (the “proposal”) for a public register (the “foreign ownership register”) which would contain...more

Secretary Ben Carson Kicks Off Public Housing P3

This week, Miami-Dade County hosted Dr. Ben Carson, the Secretary of the United States Department of Housing and Urban Development, at the Liberty Square public-housing development, one of the oldest in the nation. The...more

Mortgage Lender Settles with HUD for Allegedly Making FHA Mortgage Loan Payments on Behalf of Borrowers

by Goodwin on

On February 7, the U.S. Attorney for the Eastern District of New York, the Office of the Inspector General for the Department of Housing and Urban Development (HUD), and the Inspector General for the Federal Deposit Insurance...more

Programs to bring investment capital to rural communities

by Butler Snow LLP on

The United States Department of Agriculture (“USDA”) offers a variety of loan programs designed to spur investment in rural communities located throughout the United States of America. These loans are available to...more

HUD OIG Announces Termination of FHA Fraud Investigation

by Goodwin on

On September 29, the Office of Inspector General for the United States Department of Housing and Urban Development (HUD OIG) announced the termination of an investigation of a national mortgage lender relating to a purported...more

HUD OIG Announces PFCRA Settlement with FHA Lender

by Goodwin on

On September 29, 2016, the U.S. Department of Housing and Urban Development (HUD) and its Office of Inspector General (HUD OIG) announced a settlement with a mortgage lender relating to two audits of the lender’s Federal...more

DOJ Secures $83 Million Settlement Over Alleged FHA Underwriting Violations

by Goodwin on

On September 29, the U.S. Department of Justice (DOJ) announced that it had secured a settlement from a national lender, resolving allegations that the lender violated the False Claims Act, Program Fraud Civil Remedies Act,...more

Ninth Circuit Holds that Fannie Mae and Freddie Mac Are Not Agents of the Government Under the False Claims Act

by Ropes & Gray LLP on

In United States ex rel. Adams v. Aurora Loan Servs., 813 F.3d 1259 (9th Cir. 2016), the Ninth Circuit affirmed the district court’s dismissal of Relators False Claims Act (“FCA”) complaint, holding that the Federal National...more

Real Estate Market Intelligence: Multifamily Development Quarterly Report - Q2 2016

by Benesch on

Key Findings - The multifamily asset sector saw nearly $35.4 billion of investment sales activity for the first-quarter of 2016. This figure represents an 8.6% increase compared to the first-quarter of 2015 and...more

Will the DOJ Kill FHA Loans Through Their Use of the False Claims Act?

by Baker Donelson on

The purpose of the Federal Housing Administration (FHA) is "to help creditworthy low income and first time homebuyers, individuals and families often denied traditional credit, to obtain a mortgage and purchase a home." This...more

Sixth Circuit Affirms Dismissal of $2.3 Billion FCA Case Due to Prior Public Disclosure

Last week, in U.S. ex rel. Advocates for Basic Legal Equality, Inc. (ABLE) v. U.S. Bank, the Sixth Circuit affirmed the dismissal of a False Claims Act (FCA) suit against U.S. Bank because the conduct alleged by the qui tam...more

Ninth Circuit holds that Fannie Mae and Freddie Mac are not officers, employees, or agents of the United States under 31 U.S.C. §...

by Dorsey & Whitney LLP on

On February 22, the Ninth Circuit affirmed the dismissal of an FCA claim brought by relators alleging that various lenders and loan servicers made false certifications to Fannie Mae and Freddie Mac, concluding that claims...more

Ninth Circuit Rejects Whistleblower Argument that Fannie Mae and Freddie Mac are Federal Instrumentalities under the False Claims...

Liability under the False Claims Act (FCA) is premised on the submission of a claim for money or property either to a federal government “officer, employee, or agent” or, under certain circumstances, to a nongovernmental...more

Freddie Mac and Fannie Mae Not Considered Government Agents Under the FCA

by McGuireWoods LLP on

In United States ex rel. Adams v. Aurora Loan Servs., Inc., 2016 WL 697771, — F.3d —- (9th Cir. Feb. 22, 2016), the Ninth Circuit found that Fannie Mae and Freddie Mac were not government entities for purposes of the False...more

A School Facilities Bond For 2016: Good News For Everyone

Over the last 15 years, California’s population has grown by approximately 5 million people—the same number filling the entire state of Colorado. This influx has created a housing shortage that the California market has...more

When Government Walks in Industry’s Shoes, FCA May Not Apply (and Vice Versa)

by Saul Ewing LLP on

In November, an Illinois federal judge blocked a former bank employee from collecting his claimed relator’s share of a potential settlement between the FDIC (acting as the bank’s receiver) and the bank’s former directors. In...more

Can A Law Firm Qualify As An Original Source?

by McGuireWoods LLP on

Although a Federal district court refrained from providing a definitive answer to this question, it appears unlikely given the court’s holding and reasoning in United States v. U.S. Bank, N.A., No. 3:13-cv-704, 2015 WL...more

Quicken Loans Takes on the DOJ & HUD

Quicken Loans, the nation’s largest Federal Housing Administration (FHA)-backed mortgage lender, filed suit on Friday, April 17 in the United States District Court in Detroit against the United States Department of Justice...more

FCA Matters: Department of Justice Touts Record Recoveries in False Claims Act Cases (2/15)

The U.S. Department of Justice collected a record $5.69 billion through settlements and judgments in False Claims Act cases during the fiscal year ending September 30, 2014, according to a recent announcement by DOJ...more

HUD Publishes New Rule Governing Federal Procurement and Contracting

by Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently published a rule that made numerous changes to grant administration, procurement, and contracting requirements. The rule repealed the requirements found at...more

DOJ Announces Record Year of Over $5 billion in False Claims Act Recoveries

2014 was a banner year for federal recoveries under the False Claims Act (“FCA”). In a press release dated November 20, 2014, the DOJ announced that its total recoveries – including those from both settlements and judgments –...more

5 things to know about RAD

by Ballard Spahr LLP on

With HUD’s Rental Assistance Demonstration program in full swing and transactions moving through the RAD pipeline, it may be helpful to step back now and again to consider some points about RAD. Here are a few that have...more

Cities and Counties Must Provide Report Before Approving Economic Development Subsidies to Businesses

by Best Best & Krieger LLP on

New Law Applies to Subsidies of $100,000 or More - Gov. Brown last week signed into law AB 562, legislation that will require all cities and counties to provide a report to the public before approving any economic...more

Federal Court Refuses To Dismiss Government’s Statutory Claims against Mortgage Originators That Allegedly Defrauded HUD

by Ballard Spahr LLP on

A federal judge recently rejected motions to dismiss in a suit in which the U.S. government alleged that two mortgage originators and their officers defrauded the Department of Housing and Urban Development (HUD) into...more

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