Real Estate Market Loans

News & Analysis as of

Title Insurance: When Does a Construction Lender “Create” or “Suffer” a Mechanics Lien?

BB Syndication Services, Inc. v. First American Title Ins. Co., 785 F.3d 825 (7th Cir. 2015) – A construction lender sued a title insurance company seeking defense and indemnification in connection with claims in a...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

Against the Tide: A New Take on RESPA’s Section 8(c)(2) Safe Harbor by the CFPB

Grab a flotation device – the final decision recently issued by Director Richard Cordray of the Consumer Financial Protection Bureau (“CFPB”) in the administrative enforcement proceedings against PHH Corp....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

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

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

Freddie Mac closes first direct purchase of a tax-exempt loan

Freddie Mac recently closed its first direct purchase of a tax-exempt loan. The loan financed the acquisition and rehabilitation of a 417-unit senior housing community in Dayton, Ohio known as The Lakewoods. The deal...more

Federal Court in Pennsylvania Strikes at the Heart of the Residential Mortgage System; Can Commercial Syndicated Loans and...

On June 30, 2014, the United States District Court for the Eastern District of Pennsylvania issued an important decision on Pennsylvania’s recording statutes in the case of Montgomery County, Pennsylvania, Recorder of Deeds,...more

State Law Update: Tennessee, Kansas Update Mortgage-Related Provisions

On April 11, Tennessee enacted HB 160, a bill that makes certain minor changes to the state’s mortgage licensing law. The bill removes current licensing exemptions for (i) a person who owns a vacant tract of real property...more

Commercial Real Estate Lending: Lessons from 2012 and Predictions for 2013

The combination of 4 speaking engagements and working on 4 new (or revived) lending products buried me during the last several months. Fortunately, I’ve navigated the course, and it is a new year. It is time to take a look...more

Proposed Rules Could Change Penalty Box for Life Company Lenders

As commercial real estate lenders, life insurance companies have a unique approach on dealing with potential losses or loan loss reserves in their mortgage loans holdings. Unlike bank mortgage lenders, who apply their risk...more

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