Housing Market

News & Analysis as of

Homebuilder Confidence Stabilized In April

On April 15th, the National Association of Home Builders (NAHB) released its National Association of Home Builders/Wells Fargo Housing Market Index (HMI), a widely followed gauge of the outlook for the U.S. housing sector. ...more

Promise Zones Initiative: public comments on second round application materials due June 16, 2014

On April 17, 2014, the U.S. Department of Housing and Urban Development (HUD) published a notice in the Federal Register requesting public comments on the proposed selection process and criteria for the second round of the...more

Dechert OnPoint: The Housing Finance Reform and Taxpayer Protection Act of 2014

Following on the heels of last year’s bi-partisan “Housing Finance Reform and Taxpayer Protection Act of 2013”, which was introduced into the Senate by Senators Corker and Warner, a similar bill was recently introduced in the...more

The Housing Finance Reform and Taxpayer Protection Act of 2014

This article provides a brief summary of the key provisions of a new bi-partisan Senate bill, based on the Housing Finance Reform and Taxpayer Protection Act of 2013, as well as a brief discussion of a new House of...more

Study Finds Housing Recovery Fully Taken Hold Nationwide

A recent article in National Mortgage Professional Magazine released a RealtyTrac analysis of housing market health in 410 U.S. counties in two-year increments over the past eight years, finding that “96 percent of county...more

Johnson and Crapo Release Housing Finance Reform Proposal

Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) recently released the highly anticipated text from their housing finance reform proposal. As expected, the 442-page proposal—officially...more

And So it Begins . . .

This past year I wrote about a case that caused an uproar in the homebuilding industry - Liberty Mutual Insurance Company v. Brookfield Crystal Cove LLC, 219 Cal.App.4th 98 (August 28, 2013) – in which the California Court of...more

CFPB Publishes Source Code for HUD-Approved Housing Counselors

In November 2013, the CFPB published a tool to help consumers find local HUD-approved housing counselors. Now, the CFPB has published open source code to allow lenders to integrate the web-based tool into lender applications...more

Wells Fargo Gives Subprime Borrowers Another Chance

Wells Fargo has announced that it plans to begin originating FHA-backed loans for borrowers with credit scores as low as 600. This new cut-off is 40 points below Wells Fargo’s current floor, and 20 points below what has...more

Expired Housing-Related Tax Rules

A couple of tax breaks that affect many homeowners expired at the end of 2013, and have not yet been extended for tax year 2014. It is still possible they will be extended retroactive to January 1, 2014, and maybe that is why...more

Senate Democrats Press FHFA On Housing Trust Fund

On January 24, Senators Warren (D-MA), Reed (D-RI), Boxer (D-CA), and 29 other Senate Democrats sent a letter to FHFA Director Mel Watt asking that he lift the suspension on funding for the National Housing Trust Fund (NHTF)...more

Banking & Finance LItigation Update - Issue 71 (Global)

In This Newsletter: - Domestic Banking - Domestic General - European Banking - European General - International Banking - International General - Press Releases - Excerpt from Domestic Banking:...more

New FHFA Head Will Delay Proposed Mortgage Fee Hike

Former North Carolina congressman and the new head of the Federal Housing Finance Agency (FHFA), Mel Watt, has given the public a sneak peek of how he will lead the FHFA. On December 20 he released a statement expressing his...more

New York’s New Housing Marketplace Plan

Launched in 2003, by the Bloomberg administration, the New Housing Marketplace Plan set a goal for the creation and preservation of 165,000 units of affordable housing by 2014. According to a new report, through 2013, the...more

FHA Announces Plans to Lower Mortgage Insurance Policy Caps

Last Friday, the Federal Housing Administration announced that it will reduce the maximum threshold for the high-price mortgages it is willing to insure. This change was called for by the Housing and Economic Recovery Act of...more

Spotlight on Density Incentives in CR Zones

With the zoning rewrite work sessions as a backdrop, Councilmembers George Leventhal and Marc Elrich have resurrected their dissatisfaction with the "incentive density point" distribution under CR Zone. The following...more

Five Tips for Avoiding a Money Pit

Some good news — finally — when it comes to the housing market in the Atlanta area: If you want to sell your house, now might be the time. Why? Because median list prices for homes are on the rise....more

CFPB Issues Interpretative Rule and A Guidance Bulletin on HOEPA Homeownership Counseling Lists

The CFPB issued an interpretive rule describing the data instructions for lenders to use in complying with HOEPA. The HOEPA rules require, among other things, that lenders provide applicants with a list of HUD-approved...more

New Miami In The News: Weekly Recap

This week, David Beckham, Art Basel, MIA and a Global Diversity Summit all made headlines. David Beckham chooses Miami to build his soccer empire - According to reports, the international soccer icon’s MLS...more

San Jose Case Could Change the Way Cities, Counties Adopt and Enforce Affordable Housing Ordinances

BB&K Attorney Christopher Diaz Examines the Issues Raised by the California Case - Although the housing bubble may have burst a few years back, there is still one region in California where housing prices remained red...more

Banking & Finance Litigation Update - Issue 69 (Global)

The Banking & Finance Litigation Update is published monthly and covers current developments affecting the Group's area of practice and its clients during the preceding month. In This Issue: Domestic Banking;...more

California Supreme Court Holds Mitigation Fee Act Applies to Inclusionary Housing

Yesterday, the California Supreme Court decided one of two pending cases dealing with inclusionary housing, holding that when a public agency requires a developer to convey units at below market rates and make substantial...more

HUD Issues QM Proposal for Comment: There is a “There” There

This week, the United States Department of Housing and Urban Development (“HUD”) weighed in on its proposed version of a Federal Housing Administration (“FHA”) Qualified Mortgage (“QM”). Although the Consumer Financial...more

Banking Committee Focuses on Private-Label Mortgage-Backed Securities Market

On October 1st, the U.S. Senate Committee on Banking, Housing and Urban Affairs continued its examination of housing finance reform with a hearing entitled “Fundamentals of a Functioning Private Label Mortgage Backed...more

Housing Market Largely Escapes Damage From Government Shutdown, For Now

The federal government shut down at the stroke of midnight on September 30th as the Congress failed to pass a bill to continue funding the government. The repercussions are many, including preventing 800,000 Americans from...more

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