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Read Residential Real Estate law updates, news, and legal analysis from leading lawyers and law firms:

HUD Regulatory Reform

by Ballard Spahr LLP on

The new HUD administration has been pretty quiet on the regulatory front, with only a handful of regulations and notices issued since January. That may change soon. HUD is hard at work identifying regulatory changes that...more

FTC’s First Test of Supreme Court’s North Carolina Dental Precedent in New Case against Real Estate Appraisal Board

by Mintz Levin on

Even with a reduced lineup of only two commissioners — the Republican Acting Chair and one Democratic Commissioner — the Federal Trade Commission (the “FTC” or “Commission”) filed an administrative complaint this week against...more

Fleeting Glimpse of RESPA Issues in PHH Argument as Court Focuses on Bureau Constitutionality

by Foley & Lardner LLP on

Although the RESPA issues were addressed in the briefs filed by the parties in the PHH case, at oral argument this week the parties and the en banc D.C. Circuit focused heavily on whether the president’s authority is...more

HUD Resolves Allegations of Discrimination Against California Lenders

by Goodwin on

?On April 19, the U.S. Department of Housing and Urban Development (HUD) announced that it had entered an agreement with a group of California mortgage lenders to resolve allegations that they discriminated against a mortgage...more

Recent MRB Administrative Actions Highlight that Minutiae Matters to HUD

by Ballard Spahr LLP on

On April 4, 2017, the Mortgagee Review Board (MRB) of the U.S. Department for Housing and Urban Development (HUD) published an entry in the Federal Register titled "Mortgagee Review Board: Administrative Actions." The entry...more

A Bankruptcy Discharge Makes a Face-to-Face Meeting an Act in Futility

Just last fall, we wrote about the Eleventh Circuit’s decision in In re Failla, Case No., in our article, “The Eleventh Circuit has spoken: Debtors who surrender property must get out of the creditor’s way.” Now, it appears...more

HUD Publishes Final HECM Rule

Last year, the Federal Housing Administration (FHA) released a set of proposed rules affecting Home Equity Conversion Mortgages (HECMs) for notice and comment. After receiving 83 comments and responses, the Department of...more

HUD Inspector General Issues Alert on Appraiser Identity Theft

by Ballard Spahr LLP on

The Office of the Inspector General (OIG) of the U.S. Department of Housing and Urban Development has issued an alert on appraiser identity theft. The alert details cases in three states where identity thieves illegally used...more

Plaintiffs in Another Case Challenging CFPB's Constitutionality Move to Intervene in PHH Case

by Ballard Spahr LLP on

The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a "Motion To Intervene In Any En Banc Proceeding That May Be Granted" in the PHH case. The motion follows the D.C. federal district court's...more

Court Grants CFPB's Petition for Rehearing in PHH

The D.C. Circuit has vacated its prior order in PHH Corporation v. Consumer Financial Protection Bureau and ordered the matter be reheard en banc. The parties have been specifically asked to address the following issues in...more

FHFA Announces Increases in Maximum Conforming Loan Limits for Fannie Mae and Freddie Mac for First Time in 10 Years

by Ballard Spahr LLP on

The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2017 will increase to $424,100 from $417,000. While the increase is...more

What the PHH decision means for the CFPB’s UDAAP authority

by Ballard Spahr LLP on

In addition to its implications for CFPB rulemaking, the D.C. Circuit’s decision in PHH Corporation v. CFPB has significant implications for the CFPB’s authority to enforce federal consumer financial protection laws as well...more

HUD Publishes HOTMA Initial Implementation Notice

by Ballard Spahr LLP on

HUD has issued a Federal Register Notice offering initial implementation guidance for the Housing Opportunities through Modernization Act of 2016 (HOTMA) (Pub. L. 114-201). The notice highlighted both the HOTMA provisions...more

Reminder: Comments to revised RAD forms due October 28th and RAD Report out for review

by Ballard Spahr LLP on

On September 28, 2016, HUD published a notice in the Federal Register to solicit comments to revised form documents used in the Rental Assistance Demonstration (“RAD”). This notice follows a 60-day comment period on...more

Court to CFPB: Unconstitutional and Wrong on RESPA

In a landmark decision impacting the consumer financial services industry and beyond, a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit has declared unconstitutional a core component of the structure of...more

D.C. Circuit Rules CFPB Unconstitutional, and Wrong on RESPA

by MoFo Reenforcement on

The D.C. Circuit held today that the single-director structure of the CFPB violates Article II of the United States Constitution, and added important substantive rulings on the Real Estate Settlement Procedures Act (RESPA)....more

In Long-awaited Decision, D.C. Circuit Reverses CFPB Enforcement Ruling and Finds CFPB Structure Unconstitutional In Part

by Goodwin on

On October 11, 2016, the D.C. Circuit issued its opinion in PHH Corporation v. Consumer Financial Protection Bureau. In the long-anticipated decision, the court found the CFPB’s structure unconstitutional in insulating the...more

CFPB Declared Unconstitutional

by Poyner Spruill LLP on

The United States Court of Appeals for the District of Columbia Circuit today ruled on a critical case “about executive power and individual liberty.” In the matter of PHH Corporation, et. al., v. the Consumer Financial...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

HUD Settles with FHA Lender Over Alleged Underwriting Violations

by Goodwin on

On September 23, the U.S. Department of Housing and Urban Development (HUD) announced that on April 7, 2016 it had entered into a settlement with a Federal Housing Administration (FHA) approved lender over allegations that...more

HUD Fair Housing Guidance Raises ECOA Risk in Serving LEP Consumers

by Ballard Spahr LLP on

New guidance issued by the U.S. Department of Housing and Urban Development (HUD) on Fair Housing Act (FHA) protections for persons with limited English proficiency (LEP) could have reverberations under the Equal Credit...more

HUD expands fair housing liability to include LEP discrimination

by Ballard Spahr LLP on

Last week, HUD issued new guidance confirming that persons with limited English proficiency (LEP) are protected under the Fair Housing Act (FHA). LEP includes a limited ability to read, write, speak, or understand English. ...more

HUD Expands Fair Housing Protections

by Ballard Spahr LLP on

People with limited English proficiency (LEP) are protected under the Fair Housing Act (FHA) under new guidance announced by the U.S. Department of Housing and Urban Development (HUD). Housing providers can face liability for...more

HUD Issues Year-End Closing Deadlines for Mixed-Finance Deals

by Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently issued a memo outlining its processing schedule for mixed-finance projects targeted to close by the end of 2016. According to HUD’s Office of Public Housing...more

Your daily dose of financial news - The Brief – 9.9.16

by Robins Kaplan LLP on

We’ve got a number for that Wells Fargo settlement/fine, and it’s a doozy: $185 million for illegal banking practices (including secretly issuing credit cards without customer consent, signing up customers for online banking...more

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