Residential Real Estate Updates

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

Vermont Updates Mortgage Broker Rules

The Vermont Department of Financial Regulation has adopted regulations that update the rules for the licensing and regulation of mortgage brokers. The regulation sets forth standards on...more

CFPB seeking approval for field study of Owning a Home project

The CFPB has published a notice stating that as part of its Owning a Home project, it plans to seek approval from the Office of Management and Budget to conduct a field study of the project. The project consists of a various...more

New Amendment to the Interstate Land Sales Full Disclosure Act (ILSA) could be Good News for Condominium Developers

On September 26, 2014, President Obama signed into law House Resolution 2600 that adds the sales of condominium units to the list of “partial” exemptions under the Interstate Land Sales Full Disclosure Act (ILSA). With the...more

Florida’s Fifth District Holds Method of Repair is within the Scope of Appraisal and a Party’s Attorney may not Serve as a...

In Florida Insurance Guaranty Assoc., v. Branco, 39 Fla. L. Weekly D2020a (Fla. Dist. Ct. App. 5th Dist. Sept. 19, 2014), the Fifth District affirmed in part and reversed in part a Hernando County trial court’s order...more

AB 2222 Restricts Use of State Density Bonus Law

On September 27, 2014, Governor Brown signed AB 2222, which amended sections of the State Density Bonus Law (Gov. Code §§ 65915, 65915.5 ["DBL"]). The main purpose of the bill is to require developers to replace all of a...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

Editorial: Banks Can Fight Buyback Claims with a Little Help from BofA

Bank of America took a big hit when it reached a record-breaking $16.65 billion mortgage settlement with the United States Department of Justice in August. The company is likely to attempt to recoup as much of the penalty as...more

Orrick's Financial Industry Week in Review

ESAs' Joint Committee Publishes Report on Risks and Vulnerabilities in the EU Financial System - On September 22, the Joint Committee of the European Supervisory Authorities (ESAs) published its bi-annual report on the...more

Federal Appeals Court Upholds District Court Order Barring Telemarketers From Selling Mortgage And Debt Relief Programs

This month, the U.S. Court of Appeals for the Sixth Circuit issued a decision to uphold the District Court of Northern Ohio’s earlier ruling prohibiting the defendants from selling false mortgage assistance and debt relief...more

Completed Condominium Units to be Exempted from ILSA Registration Requirements

A bill exempting completed residential condominium units from the burdensome registration provisions of the Interstate Land Sales Act (“ILSA”) was passed by the U.S. Senate on September 18, 2014, after earlier passage by the...more

New York’s Attorney General Files Redlining Suit Against Bank

The New York Attorney General has charged a regional bank with engaging in illegal discrimination by intentionally ignoring predominantly African-American neighborhoods in Buffalo. ...more

CFPB Wants to Publish Detailed Consumer Complaints

The Consumer Financial Protection Bureau (CFPB) has proposed to publicly disclose details of consumer complaints filed through its web-based public consumer complaint database by including a consumer narrative of events that...more

The future of multifamily housing bonds?

Earlier this year, President Obama included within his Administration’s budget to Congress certain tax proposals. Among those was a proposal to allow states to convert up to 8 percent of their private activity bond (PAB)...more

Public Comment Period Closing As To Raleigh's Citywide Zoning District Remapping Project

The City of Raleigh's planning staff is in the final days -- literally, two days -- of the period in which it will accept public comments from citizens on the City's Zoning District Remapping Project, about which we've...more

CFPB And Federal Reserve To Co-Host Third TILA-RESPA Disclosure Webinar

On October 1, the CFPB and the Federal Reserve will co-host a webinar on the TILA-RESPA Integrated Disclosures rule. By consolidating the existing mortgage disclosures required under TILA and RESPA, the integrated rule is...more

Federal Housing Administration Posts Draft Servicing Section of its Single Family Housing Policy Handbook

On September 11, as part of its initiative to develop a single authoritative source for Federal Housing Administration (“FHA”) Single Family Policy, the FHA posted a draft of the servicing section of its Single Family Housing...more

Federal Insurance Office Issues Second Annual Report

The sleepy office of the Treasury Department known as the Federal Insurance Office, or FIO, released its second Annual Report on the Insurance Industry. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act,...more

Class Action Against State Auto Concerning Homeowners’ Policy Limits Is One Worth Watching

Insurers typically adjust (or propose to adjust) the policy limits on a homeowners’ policy every year to take into account changes in the cost of construction. This is intended to help insureds make sure that sufficient...more

Senate passes bill exempting condo unit sales from ILSFDA registration

In May 2013, we reported that the CFPB’s amicus program scored a victory when the U.S. Court of Appeals for the Second Circuit ruled that the sale of a single-floor condominium unit in a multistory building was subject to the...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

New York DFS Extends Emergency Subprime Calculation Rule

The New York Department of Financial Services (DFS) recently extended for 90 days its emergency rule adjusting the criteria for determining when a Federal Housing Administration (FHA) mortgage loan is classified as subprime....more

“Change in Ownership” Can Trigger Documentary Transfer Tax

926 North Ardmore Avenue, LLC v. County of Los Angeles, (9/22/14, B248536) - The California Court of Appeals has recently held that, as a general rule, the Documentary Transfer Tax (“DTT”) applies whenever there is a...more

GAO Says CFPB Needs to Improve Data Privacy and Security

To fulfill its statutory responsibilities, the CFPB collects large amounts of consumer financial data on credit card accounts, mortgage loans, and other products through one-time or ongoing collections. While the CFPB has...more

With Sewers Backing Up, Messy Damage Claims are On the Rise

Many homeowners and other property insurance policies contain an exclusion to address one of the by-products of the increased frequency of severe weather: it bars coverage for property damage caused by “water which backs up...more

Nebraska Appellate Court Gets Down to Earth to Hold That Faulty Workmanship Standing Alone Is Not An “Occurrence”

The insurance and construction industries have disagreed about coverage claims involving faulty workmanship for many years. Contractors believe their CGL insurance policies should always cover property damage caused by...more

8,195 Results
|
View per page
Page: of 328

Follow Residential Real Estate Updates on: