Add yet another major settlement to the still-growing list of huge payouts by the nation’s largest banks to settle claims over toxic mortgage-backed securities. Bank of America has now agreed to pay $404 million to Freddie Mac…more
Should a soccer stadium be built at the Port of Miami? Soccer superstar David Beckham and his investment team have identified the southwest corner of the Port as a potential stadium site for a new Major League Soccer franchise…more
Along with the condo market and the hospitality industry, the retail sector in Miami-Dade County has bounced back from the downturn, and developers and retailers are scrambling to expand existing shopping centers and build new…more
This week in New Miami news, don’t miss the renderings of developer Jeff Berkowitz’s Skyrise Miami, a sleek 1000-foot observation tower that would become Miami’s tallest building.
Channel deepening project begins at…more
A recent article published in the Miami Herald reflects growing support to form a public-private partnership (P3) to save the national passenger rail system. To some, this statement may sound puzzling, as the national passenger…more
On Tuesday, the United States Justice Department announced that it finalized a settlement agreement with JPMorgan Chase for $13 billion. This settlement will resolve a multitude of state and federal investigations into JPMorgan…more
Bank of America and Freddie Mac are currently attempting to resolve a mortgage repurchase dispute in which Freddie Mac claims that Bank of America should have to buy back more than $1.4 billion in mortgage loans it claims were…more
Late last month, we commented on JP Morgan Chase’s $5.1 billion settlement with the Fair Housing Financing Agency (FHFA), as conservator of Fannie Mae and Freddie Mac. The Wall Street Journal has since reported that JP Morgan…more
First mortgage lenders acquiring title to collateral consisting of condominium units or homes in a homeowners community are afforded protection against assessment liability under both the Florida Condominium Act (Chapter 718 of…more
Entrepreneurs in Miami and elsewhere are familiar with making and receiving loans as commonplace tools in the management of their businesses. One need look no further than the growth of Miami’s skyline through debt-financed…more
Condo hotels offer private individuals the opportunity to purchase a condominium unit for personal use part of the year and for rent to the general public as part of a hotel when it is not in use by the owner. These projects…more
We recently commented on JPMorgan Chase’s blockbuster agreement to resolve a class-action lawsuit for $300 million brought by more than a million homeowners nationwide. The dispute centered on allegations that Chase profited by…more
JPMorgan Chase and Assurant Inc. recently agreed to settle a class-action lawsuit initiated in June 2012 for $300 million brought by a class of 1.3 million homeowners nationwide who claimed that they were overcharged for…more
A few years ago, when condo developers began requiring significant up-front deposits from buyers prior to the finish of a project, it was a work-around for a lack of financing in the market.
In the last year, lenders have…more
Add another mega-settlement to the rapidly growing list of huge payouts by the nation’s largest banks to federal agencies. Wells Fargo reportedly has now agreed to pay the Federal Housing Finance Agency (FHFA), which oversees…more
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