The massive economic disruption caused by the novel coronavirus pandemic raises questions about insurance coverage for business interruption losses from communicable disease. Does viral contamination constitute the “physical...more
Commercial property insurance policies frequently include business interruption or loss of business income coverage when a covered “cause of loss” creates a slowdown or reduction in business income. Companies suspending...more
With new guidance and model documents issued by Fannie Mae and Freddie Mac, the mortgage industry is several steps closer to operating without LIBOR.
The industry has been grappling with the eventual demise of LIBOR since...more
2/10/2020
/ Adjustable-Rate Mortgage ,
Alternative Reference Rates Committee (ARRC) ,
Banking Sector ,
Fannie Mae ,
Freddie Mac ,
GSE ,
Libor ,
Loan Servicer ,
Mortgage Lenders ,
Mortgages ,
New Guidance ,
Secured Overnight Funding Rate (SOFR)
The Insurance Services Office, Inc. (ISO), which develops standard insurance policy forms for use by insurers, recently released its first cannabis-related endorsements (Cannabis Endorsements) to the businessowner policy...more
10/21/2019
/ Cannabis-Related Businesses (CRBs) ,
Commercial Insurance Policies ,
Endorsements ,
Exemptions ,
Farm Bill ,
Hemp ,
Insurance Industry ,
Liability Insurance ,
Policy Exclusions ,
Policy Terms ,
Standard Forms
The final rule promulgated by the Board of Governors of the Federal Reserve (Federal Reserve), the Farm Credit Administration, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, and...more
The Board of Governors of the Federal Reserve System, the Farm Credit Administration, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (the...more
The United States Department of Housing and Urban Development (HUD) released a sweeping proposed rule on August 1 seeking to amend HUD’s interpretation of the Fair Housing Act’s disparate impact standard. According to HUD,...more
In February 2019, the Board of Governors of the Federal Reserve System, the Farm Credit Administration, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of...more
A bipartisan measure was introduced in the United States Senate in late April to expand fair housing protections to LGBTQ persons. The Fair and Equal Housing Act of 2019, introduced by Senators Susan Collins (R-ME), Angus...more
5/14/2019
/ Civil Rights Act ,
Fair Housing Act (FHA) ,
Gender Discrimination ,
Gender Identity ,
Housing Discrimination ,
HUD ,
LGBTQ ,
Price Waterhouse ,
Proposed Legislation ,
Sexual Orientation Discrimination ,
Transgender
The United States Department of Housing and Urban Development (HUD) recently announced charges against social media company Facebook for violating the Fair Housing Act (42 U.S.C. 3601-3619 and 3631). The charges derive from...more
4/18/2019
/ Advertising ,
Facebook ,
Fair Housing Act (FHA) ,
Family Status Discrimination ,
Gender Discrimination ,
Housing Discrimination ,
HUD ,
Race Discrimination ,
Religious Discrimination ,
Sex Discrimination ,
Statutory Violations
Fifty years after the passage of the Fair Housing Act, the United States Department of Housing and Urban Development (HUD) continues to demonstrate a strong commitment to Fair Housing, both through the support of private...more
The mission of the U.S. Department of Housing and Urban Development (HUD) is, in part, to bolster the economy by strengthening the housing market, protecting consumers, and working to meet the needs for quality affordable...more
You are the property manager for a HUD-subsidized apartment development. One day, the owner of the development rushes into your office, visibly frantic. The owner says, “We just received a letter from HUD’s Real Estate...more
The insurance coverage analysis under a commercial general liability (“CGL”) insurance policy begins with the “insuring agreement.” The standard CGL policy provides coverage for “those sums that the insured becomes legally...more
The United States Court of Appeals for the Seventh Circuit recently addressed a matter of first impression regarding landlord liability under the Fair Housing Act (FHA): whether a landlord may be liable under the FHA for...more
The U.S. Department of Housing and Urban Development (HUD) has filed an administrative complaint against Facebook alleging discriminatory advertising in violation of the Fair Housing Act (FHA). HUD alleges that housing...more
9/5/2018
/ Communications Decency Act ,
Department of Justice (DOJ) ,
Discrimination ,
Facebook ,
Fair Housing Act (FHA) ,
Housing Discrimination ,
HUD ,
Human Rights ,
Online Advertisements ,
Popular ,
Protected Class
The founder of Mozido, the fintech startup once claimed to be valued at $5.6 billion, has been named as a defendant in a civil lawsuit filed by the Securities and Exchange Commission (SEC). The complaint names Michael Liberty...more
In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing property damage and applying insurance proceeds in compliance with the terms of the standard mortgage...more
10/24/2017
/ Anti-Concurrent Causation Clauses ,
Flood Insurance ,
Hurricane Harvey ,
Insurance Claims ,
Loans ,
Mortgage Lenders ,
Mortgage Servicers ,
National Flood Insurance Program ,
Natural Disasters ,
Property Damage ,
Property Insurance
In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing the damage in the wake of a natural disaster and applying the proceeds when complying with the terms of...more
Following the recent hurricanes that have damaged many homes beyond repair, borrowers may seek to apply any available insurance proceeds to satisfy the outstanding balance on their loans rather than repair the property....more
10/10/2017
/ Borrowers ,
Contract Terms ,
Fannie Mae ,
Freddie Mac ,
Hurricane Harvey ,
Hurricane Irma ,
Hurricane Maria ,
Insurance Claims ,
Lenders ,
Loans ,
Mortgage Servicers ,
Property Insurance ,
Repairs
Ohio has joined the majority of jurisdictions in holding that a general liability policy may provide coverage for claims made by a project owner for property damage allegedly caused by the defective work of a subcontractor....more
The Government-Sponsored Enterprises (GSEs) and their servicers scored a significant victory last week in the Nevada Supreme Court. In Nationstar Mortgage, LLC v. SFR Investments Pool 1, LLC (Case No. 69400), the court held...more
7/10/2017
/ Article III ,
Fannie Mae ,
Financial Services Industry ,
Foreclosure ,
Freddie Mac ,
GSE ,
HERA ,
Homeowners Association (HOA) ,
Mortgage Servicers ,
Mortgages ,
Nationstar ,
NV Supreme Court ,
Preemption ,
Standing
In September 2014, the Nevada Supreme Court, in SFR Investments Pool 1, LLC v. U.S. Bank, N.A., held that a portion of a homeowners’ association (HOA) lien for delinquent assessments has true super-priority status over a...more
On an issue of first impression, the Tennessee Supreme Court held on December 12, 2015, that MERS does not have a property interest that is protected under the Due Process Clause of the Fourteenth Amendment to the United...more
In an effort to “avoid the cost and burden of piecemeal litigation” of hundreds of cases in the Nevada HOA foreclosure crisis, the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac (collectively,...more
10/14/2015
/ Action to Quiet Title ,
Declaratory Judgments ,
Defensive Class ,
Enterprise Liens ,
Fannie Mae ,
FHFA ,
Foreclosure ,
Foreclosure Sales ,
Freddie Mac ,
HERA ,
Homeowners Association (HOA) ,
Permanent Injunctions ,
Preemption ,
Putative Class Actions