Real Estate Market

News & Analysis as of

Don’t Miss This Deadline To File A Regulatory Takings Claim

The Court of Appeal has recently reminded land use practitioners of an important deadline when pursuing a takings claim: A takings challenge based on a land use determination must be filed within 90 days of that determination...more

Real Property, Financial Services & Title Insurance Update: Weeks Ending July 10, 17 & 24, 2015

REAL PROPERTY UPDATE - Eviction/Summary Judgment: Error to grant summary judgment where plaintiff failed to refute multiple affirmative defenses including an assertion that the eviction would cause an inequitable...more

Mortgage Company Owner and Others Plead Guilty to Mortgage Fraud Scheme Involving FHA-Insured Loans

On July 14, the DOJ, in coordination with HUD’s Office of Inspector General and the U.S. Attorney’s Office for the Southern District of Florida, announced that a Miami-area real estate developer and mortgage company owner,...more

Treasury Department Starts the Regulatory Ball Rolling for Marketplace Lenders

The Treasury Department’s notice and request poses 14 detailed questions to gather public information concerning the role of marketplace lending in the financial services industry. On July 16, 2015, the U.S. Department...more

Coming Soon... New Closing (no, Consummation...) Rules!

What?! We can’t call it a closing anymore? Under new federal regulations regarding the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act (“RESPA”), the terminology for a “closing” or “settlement” is...more

Borrowers’ Counsel Sanctioned for Frivolous Lawsuit Against Lender Who Attempted to Resolve Foreclosure Action

An Ohio appellate court has affirmed an order of sanctions against counsel for borrowers who filed a frivolous lawsuit against the lender alleging fraud, breach of contract and estoppel in connection with failed attempts to...more

Recent Developments in Retrofit Liability of Publicly Accessible Properties

If you own or invest in an older, publicly accessible property that does not comply with new regulations, you may be at risk of substantial liability. Retrofitting older properties to comply with new legal requirements and...more

Lessons Learned in Conservation Partnerships

The Internal Revenue Code has provided an incentive under Section 170(h) for charitable conservation gifts. Since at least 2002 there has been an interest in combining through partnership those land owners who may have little...more

Blog: A Proposal To Extend Beneficial Ownership Rules To UK Land-Holding Foreign Companies

A report published yesterday by Global Witness, alleging that an individual with ties to a former Kazakh public official owns large swathes of London, follows much recent interest in the issue of public officials owning...more

Is a Disability Lawsuit Coming to Your Property?

If you own or lease commercial property in Minnesota, you may be at risk of being named in a series of lawsuits targeting Minnesota business owners. Why Lawsuits Are Being Filed - Commercial property owners and...more

2015 Florida Legislative Post-Session Report

Carlton Fields Jorden Burt’s Government Law and Consulting Practice Group released its 2015 Florida Legislative Post-Session Report detailing significant bills that passed during the 2015 Regular Session of the Florida...more

How to Respond to a CFPB Civil Investigative Demand

The Consumer Financial Protection Bureau (“CFPB”) was created to enforce the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”) and various consumer finance laws (e.g., Equal Credit Opportunity...more

RMBS Suit Against WMC Mortgage LLC Dismissed as Time-Barred

On July 10, 2015, Judge Alvin Hellerstein of the Southern District of New York granted defendant WMC Mortgage LLC’s motion for judgment on the pleadings in an action brought by the Federal Housing Financial Agency (“FHFA”)...more

Judge Cote Grants Partial Summary Judgment in RMBS Suit

On July 10, 2015, Judge Denise Cote of the Southern District of New York granted partial summary judgment in favor of defendants WMC Mortgage LLC and GE Mortgage Holding LLC in an action filed by Trustee Bank of New York...more

Summary of Revised AAA Construction Industry Rules Effective July 1, 2015

The American Arbitration Association recently revised its Construction Industry Arbitration Rules and Mediation Procedures. The revised Rules, which became effective on July 1, "further align the AAA Construction Rules with...more

Summary of Revised AAA Construction Industry Rules Effective July 1, 2015

The American Arbitration Association recently revised its Construction Industry Arbitration Rules and Mediation Procedures. The revised Rules, which became effective on July 1, "further align the AAA Construction Rules with...more

Liberalization of Louisiana Foreclosure Law: Cat on a Hot Tin Roof

Legislation liberalizing Louisiana foreclosure law was signed by Louisiana’s governor on June 5. House Bill 697 becomes effective on August 1, 2015. One particular area where lenders strive to use technology involves...more

NY Governor Says Two Additional Mortgage Companies Will Adopt Set of Best Practices to Combat “Zombie Properties”

On July 9, in an ongoing fight to reduce the amount of “zombie properties” within the state, Governor Cuomo announced that two additional mortgage companies will adopt the New York Department of Financial Services (NYDFS)...more

Connecticut Adds New Licenses to NMLS

The Nationwide Mortgage Licensing System (NMLS) is now accepting new applications and transition filings for new industry licenses for the Connecticut Department of Banking (Department). The Department is requiring companies...more

DOJ Sentences Real Estate Developers to Prison for Involvement in Alleged Mortgage Fraud Scheme

On July 8, the DOJ announced the prison sentences of three real estate developers for their roles in an alleged mortgage fraud scheme that resulted in over $27 million dollars in losses. Convicted in November 2014 of wire...more

Louisiana To Increase Licensing Fees in August

The state of Louisiana has amended its licensing fees applicable to mortgage lenders, mortgage brokers, mortgage servicers, and mortgage loan originators. Renewing licensees and new applicants will see an increase in state...more

Best in Law: The Far Reach of California's Taxes

BB&K attorney Jeremiah Lee writes in the Press-Enterprise about the real costs of doing business in California. Although some businesses have left California for states with seemingly more friendly regulations and taxes,...more

Good Faith Deposit: Who Gets To Keep the Cash?

Lawrence v. Commonwealth of Ky. Transportation Cabinet (In re Shelbyville Road Shoppes, LLC), 775 F.3d 789 (6th Cir. 2015) – A chapter 7 trustee sought return of a “good faith” deposit made prior to bankruptcy in connection...more

Miami-Dade County Proposed Budget Confirms Dedication To P3s

Last week Miami-Dade County Mayor Carlos Gimenez introduced the County’s FY 2015-16 Proposed Budget and Multi-Year Capital Plan. A review of the budget’s line items confirms the County’s dedication to the use of...more

Preview of Potential Changes to EB-5 Immigration Program: Source of Financing for Construction and Hospitality Projects

With the impending expiration of the Immigrant Investor Visa Program, also known as EB-5, in September, bipartisan legislation has been proposed in Congress to renew and improve the Program. The proposed changes could...more

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