Residential Real Estate Updates

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District of Colorado: Insureds Have No Obligation To Hire Public Adjusters To Recover Amounts Due Under A Policy

Norman v. State Farm Fire & Cas. Co., No. 13-CV-01643-PAB-CBS, 2014 WL 6478046 (D. Colo. Nov. 19, 2014). District of Colorado holds that insured has no duty to hire own adjuster in order to receive payment, and denies...more

Copyright in House Plans

A couple, the Ecklunds, approached Oakcraft Homes, a custom home-builder. Based on their discussions, Oakcraft prepared a house plan and gave a copy of the plan to the Ecklunds. The couple later took that plan to a rival home...more

CFPB increases appraisal requirement exemption threshold

The CFPB, Fed, and OCC have adjusted the threshold for smaller loans that are exempt from the appraisal requirement for “higher priced mortgage loans.” The appraisal requirement became effective January 18, 2014, and the...more

Rent-Stabilization Lease A “Public Benefit” For Exemption Purposes

Faced with bankruptcy, one of the foremost thoughts on an individual debtor’s mind is whether or not, upon exiting bankruptcy, the individual will retain any property he or she possessed prior to bankruptcy. Addressing this...more

FHFA Orders Contributions to Housing Trust Fund

Earlier this month, the Federal Housing Finance Agency (“FHFA”) ordered Fannie Mae and Freddie Mac to begin making contributions to the Housing Trust Fund (“HTF”) and the Capital Magnet Fund (“CMF”). The HTF is a formula...more

Minnesota Holds “Comparable Material and Quality” Requires Wholesale Replacement Where Undamaged Siding Is Faded

Matching issues are frequently problematic when storms damage only portions of an insured structure’s exterior and it proves impossible to replace the damaged sections with material that is an exact match for the rest of the...more

HUD Publishes New Rule Governing Federal Procurement and Contracting

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 The rule repealed the requirements found at...more

Guarantors of a Construction Loan were Exonerated From Liability by a Bank's Misconduct Under the Loan Agreement, Notwithstanding...

California Bank & Trust's predecessor bank ("Bank") granted a $22.5 million construction loan to Five Corners Rialto, LLC ("Five Corners") to develop a 70-unit townhome project in two phases. Two principals of Five Corners...more

Court of Appeal Upholds Anti-SLAPP Motion to Defeat Claims Against Government Agencies

Ruling Allows Government Agencies to Use the Motion to Quickly End Meritless and Vexatious Lawsuits - A government agency can employ an anti-SLAPP motion to win early termination of meritless and vexatious lawsuits...more

Amendments to the Home Building Act

The Home Building Amendment Act 2014 (NSW) (the Amending Act) will significantly change the Home Building Act 1989 (NSW) (Home Building Act) and comes into force in late 2014 and early in 2015....more

Conservation Easements Are Not Required As Mitigation For Permanent Loss Of Farmland

In Friends of the Kings River v. County of Fresno, the California Fifth District Court of Appeal upheld the County of Fresno’s adoption of an Environmental Impact Report for a mining operation that will result in a permanent...more

New Rules for Consumer Real Estate Loan Disclosure

Sections 1098 and 1100A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) required the Consumer Financial Protection Bureau to publish rules and forms that combine certain disclosures that...more

California Supreme Court Grants Review of Coastal Act Decision with Takings Implications

In September 2014, the Court of Appeal for the Fourth Appellate District issued a surprising decision, finding that even if an applicant maintains that it is accepting imposed permit conditions “under protest” and expressly...more

California Supreme Court to Review Denial of Homeowner’s Private Beach Access

In the case of Lynch v. California Coastal Commission (D064120; Cal.App.4th 658; San Diego Superior Court; 37-2011-00058666-CU-WM-NC), the California Supreme Court has granted a petition for review of the decision by the...more

LA Mayor Proposes Mandatory Earthquake Retrofitting for Commercial and Residential Buildings

Capping a year-long partnership between the City of Los Angeles and Dr. Lucy Jones, a well-known seismologist with the United States Geological Survey, Mayor Eric Garcetti released  “Resilience by Design” last week, a plan...more

Ohio 2015 Election Deadlines

Pursuant to Section 3501.01 of the Ohio Revised Code, the Ohio General Assembly has established dates when elections may be held in each year. For 2015, these election dates are set forth in a chart at the end of the...more

U.S. Supreme Court Agrees to Resolve Whether the FHA Provides for Disparate Impact Liability.

A major change to federal law governing mortgage lending may be on the horizon. On October 2, 2014, the United States Supreme Court agreed to decide whether the Fair Housing Act (“FHA”) not only imposes liability for...more

Construction Law Advisory - December 2014

In This Issue: - Retainage limited to 5 percent in Massachusetts: Outlier or coming to your state? - Pennsylvania overhauls mechanic’s lien law with creation of state construction notices directory -...more

What Do You Do When The Bank Wants Your Condemnation Award?

Property owners typically have a lot on their minds when they find out that the government is going to be taking their property. For residential owners, they need to worry about where they are going to live with their...more

CFPB Enforcement by the Numbers

A substantive and statistical analysis of the Consumer Financial Protection Bureau’s 62 publicly available enforcement actions to date reveals preliminary trends and patterns. Established in 2011 in the wake of the...more

Congressional Leaders Urge FHFA To Investigate Fannie and Freddie Contractors

On December 11, Representatives Cummings (D-MD), Waters (D-CA), and Moore (D-WI) led the effort to submit a letter to FHFA’s IG requesting that the agency conduct a comprehensive audit to determine if Fannie and Freddie “are...more

Tax Extenders Signed into Law; Production Tax Credit Extended for Facilities Beginning Construction in 2014

Earlier today, President Obama signed the Tax Increase Prevention Act of 2014 (H.R. 5771) into law, following its passage through Congress on Tuesday. Among other things, the act will provide a one-year retroactive extension...more

Mortgage Recording: What Happens When There Is An Extra “E”?

Weiss v. JPMorgan Chase Bank, N.A. (In re Thibault), 518 B.R. 635 (Bankr. D. Mass. 2014) – A chapter 7 trustee sought to avoid a mortgage using his “strong-arm” powers on the basis that it was not properly recorded...more

Fannie and Freddie Announce Low Down Payment Programs for First-Time Homebuyers

On December 8, Fannie Mae and Freddie Mac announced new loan programs allowing for a down payment as low as three percent intended to “remove barriers for creditworthy borrowers to get a mortgage” and provide them with “a...more

It's Not the Crime, It's the Cover-Up: Equitable Estoppel in Construction Defect Claims

More than 20 years ago, the Watergate scandal taught us “it’s not the crime, it’s the cover-up” that does the damage. The ensuing decades have brought a steady stream of individuals and companies that had to learn the truth...more

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