Residential Real Estate Finance & Banking

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Mortgage-Backed Securities: “It Is The Rare Ordinary Human Being Who Understands Them”

In re Lehman Bros. Holdings Inc., 513 B.R. 624 (Bankr. S.D.N.Y. 2014) – A purchaser of residential mortgage-backed securities filed proofs of claim based on alleged misrepresentations by the debtors in offering materials...more

HUD Continues To Fight Housing Discrimination

On October 15, HUD announced the award of more than $38 million to fair housing and non-profit organizations in 43 states and the District of Columbia to address discrimination in the housing industry. Through HUD’s Fair...more

How Housing Matters

The National Building Museum hosted a conference last Thursday on “How Housing Matters”. The conference explored the links between stable, secure and affordable housing and educational outcomes, children’s health, and older...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending October 10 & October 17, 2014

REAL PROPERTY CASES - - Sinkhole Loss/Statute of Limitations: homeowners’ lawsuit was barred by the one-year statute of limitations, even though lawsuit was filed promptly after FIGA processed the claim and made a...more

NCUA To Join Fair Lending Webinar Hosted By The Federal Reserve Board

On October 15, the NCUA released a statement noting that Jamie Goodson, Director of Consumer Compliance Policy and Outreach in the National Credit Union Administration’s Office of Consumer Protection, will participate in the...more

October 29, 2014 CFPB HMDA Rule Comment Deadline Approaches

On October 29, 2014, the comment deadline for the CFPB’s proposed rule to change the information reported by financial institutions regarding the mortgage loans they originate will end. The proposed rule would update...more

Mechanic’s Lien Reigns Supreme in the Battle of a Project Default? Not for a Waiving General

In what can only be described as a devastating result for a general contractor, the Fourth Appellate District held that a general contractor may prospectively waive the priority of a mechanic’s lien to the owner’s...more

GAO Publishes Report Regarding Proposed Changes To The Single-Family Housing Finance System

On October 7, the GAO published a report to help policymakers assess proposals for changing the single-family housing finance system and consider ways to make it more effective and efficient. To this end, the report first...more

Special Alert: Proposed Amendments to the TILA-RESPA Integrated Disclosure (“TRID”) Rule, Transcript of CFPB Webinar on the Loan...

BuckleySandler is pleased to announce our new TILA-RESPA Integrated Disclosure (“TRID”) Resource Center. The TRID Resource Center is a one-stop shop for TRID issues, providing access to BuckleySandler’s analysis of the TRID...more

Nevada and D.C. Courts Give Priority of Position to HOA Assessment "Superliens" Over First Mortgages

Mortgage lenders beware. - In late August, the D.C. Court of Appeals rendered a decision in Chase Plaza Condominium Association, Inc. v. J.P. Morgan Chase Bank, N.A., CA-5826-10 (August 28, 2014) determining that a...more

Certificates of Insurance: What’s in Your Portfolio?

On September 24, 2014, a New Jersey appellate court decided Selective Ins. Co. v. Hospicomm, Inc., 2014 WL 4722776 (N.J. Super., September 24, 2014). The dispute in that case arose out of a nursing home construction project...more

Building Brand Equity: Crowdfunding and the Retail Industry

Ask anyone who follows innovation what topics are hot and it is likely most of them will say “crowdfunding.” By now, sites like Kickstarter and IndieGoGo have created thousands of loyal followers. In recent months even the...more

FHFA Extends Comment Period on Proposed Revisions to Federal Home Loan Bank Membership Eligibility Requirements

On October 6, the FHFA announced that it is extending the comment period for its proposed rule on Federal Home Loan Bank membership by 60 days, or to January 12, 2015. ...more

Bye Bye Brazil! - Tax Planning Considerations for Brazilian Investment in the United States: Part 3 - Inbound Investment Real...

As an undergraduate at West Point, I was a Spanish and Portuguese major. My Brazilian “thing” had already started a decade earlier as a ten year old growing up in the Panama Canal Zone seeing Pele play for his Brazilian team...more

GAO Recommends Better Data Analysis to Improve TARP Housing Programs

On October 6, the GAO released a report recommending that the Treasury Department improve its analysis of data it collects on HAMP. As of June, Treasury has disbursed only about one-third of the $38.5 billion in TARP funds...more

CFPB Proposes Changes to TILA-RESPA Integrated Disclosures Rule

The CFPB has issued two proposed changes to the TILA-RESPA Integrated Disclosures Rule (Final Rule) that will be effective for applications received on or after August 1, 2015: (1) an adjustment to the timing requirement for...more

FTC Targeting Deceptive Advertising of Mortgage Lead Generators

The Federal Trade Commission’s (FTC) recent complaint against Intermundo Media, LLC (Intermundo) alleging deceptive marketing tactics under the FTC Act and Mortgage Acts and Practices – Advertising Rule (MAP Rule)...more

Implications of a homeowner association’s statutory priming lien

While representing an institutional lender in the making of a loan secured by real property located in Colorado, we came across an increasingly relevant issue regarding properties subject to a homeowner association or similar...more

Contractors: Beware the Subordination Clause

Did you know that California is the only state in the country in which mechanics liens are a constitutional right? Tis true. Article XIV of the California Constitution states: Mechanics, persons furnishing...more

Bye Bye Brazil! - Tax Planning Considerations for Brazilian Investment in the United States: Part II – Additional Income Tax...

I have mentioned in prior articles my affiliation with the South Florida law firm Osborne and Osborne, PA in Boca Raton. Back to the beginning! Boca Raton is where I started right out of the Army in 1987. I moved to Miami for...more

Orrick's Financial Industry Week in Review

ESMA Final Draft RTS for Central Clearing of Interest Rate Swaps under EMIR - On October 2, the European Securities and Markets Authority (ESMA) published a report containing final draft regulatory technical standards...more

FHFA Extends Comment Period For Proposed FHLB Membership Rule

On October 6, the FHFA announced that it would extend the comment period for its proposed rule on Federal Home Loan Bank membership. ...more

UK PRA and FCA Publish Final Policy on Implementing the FPC’s LTI Ratios

On October 1, the Prudential Regulation Authority (PRA) issued PS9/14 and the FCA published FG14/8 setting out their final policies on implementing the Financial Policy Committee’s (FPC) recommendation on loan to income (LTI)...more

DOD Proposes Expanded Coverage Of Military Lending Act Protections

On September 29, a proposed amendment to the U.S. Department of Defense’s regulation that implements the Military Lending Act (MLA) was published in the Federal Register, with comments due by November 28. Most importantly,...more

FHA Multifamily Rental Project Closing Document Revisions

The U.S. Department of Housing and Urban Development (HUD) has released revised closing documents that must be used for all transactions with a commitment issued after August 10, 2014. HUD has instituted a grace period in...more

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