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General Business Residential Real Estate Insurance

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

Real Property, Financial Services, & Title Insurance Update: Week Ending February 9, 2018

by Carlton Fields on

Misrepresentation/Concealment: genuine issues of material fact remained in dispute regarding whether board-certified real estate attorney committed fraudulent or negligent misrepresentation or concealment by falsely assuring...more

Following Cunningham, Pennsylvania District Court Finds Captive Reinsurance Putative Class Action Claims Are Time-Barred

by Carlton Fields on

In this putative class action, plaintiffs alleged unlawful practices related to mortgage insurance practices, including a violation of the Real Estate Settlement Procedures Act of 1974 (“RESPA”). ...more

D.C. Circuit Court Affirms the Legality of Captive Reinsurance Arrangements

by Pepper Hamilton LLP on

While the court opinion on the constitutionality of the CFPB’s structure was long awaited, its decision related to RESPA affords the mortgage industry much-needed clarity. ...more

FHA to Discontinue Insuring Mortgages with PACE Assessments

by Weiner Brodsky Kider PC on

On December 7, 2017, FHA issued Mortgagee Letter 2017-18, announcing that it will no longer insure new mortgages on properties that include Property Assessed Clean Energy (PACE) assessments. This new policy is effective for...more

Property damage, cannabis production at issue in landlord’s insurance coverage dispute

by Thompson Coburn LLP on

A high-profile federal court ruling from Michigan stresses how important it is for landlords to monitor the activities of their tenants. The same decision has provoked discussion about how courts may approach insurance...more

Federal judge voids matching exclusion – Good news for homeowners denied coverage under exclusion

by Hellmuth & Johnson PLLC on

A Minnesota federal judge recently issued an order that has big potential implications for Minnesota homeowners who had part of their claim denied by a matching exclusion. Specifically, customers of American Family should be...more

It’s Never Too Late to Ensure Your Association is Properly Insured

by Husch Blackwell LLP on

It has been said that insurance is the only product that both the seller and buyer hope is never used. That certainly rings true when it comes to community Associations’ insurance policies, but it does not diminish the need...more

The Eighth Circuit Raises the Bar for Would-Be Indemnitees

by Bilzin Sumberg on

Here is a situation that comes up quite a bit in the world of business contracts containing indemnification provisions, and in the insurance industry as well. First, a party (“Party A”) gets sued, or threatened with a suit,...more

January 2018: Lender's Edge Newsletter

by Polsinelli on

Are Lenders Entitled to Insurance Proceeds When Foreclosing? A lender’s right to insurance proceeds after foreclosure depends on the type of loss payable clause contained in the insurance policy and the timing of the loss....more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending December 1 & 8, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - - Foreclosure/Errors in Legal Description: error in legal description did not preclude judgment of foreclosure because property was sufficiently identified by accurate lot and tract, street address,...more

Michigan Publishes Annual Licensing Fees

by Ballard Spahr LLP on

The Michigan Department of Insurance and Financial Services published its annual licensing fees under the Mortgage Loan Originator Licensing Act as follows...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 17 & 24, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - Receiver/Barton Doctrine: individual could not bring negligence action against discharged receiver of commercial property until individual first obtained leave to do so from the court that appointed...more

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 3 & 10, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE TITLE INSURANCE UPDATE - Misrepresentation: developer entitled to directed verdict on claims of fraudulent and negligent misrepresentation asserted by condominium association...more

Real Property, Financial Services, & Title Insurance Update: Week Ending October 20, 2017

by Carlton Fields on

REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE  TITLE INSURANCE UPDATE - Foreclosure: witness may testify as to business records of another company so long as that witness can lay proper foundation of personal knowledge...more

Federal Judge finds post loss assignment of benefits proper under Pennsylvania law

In a recent opinion, Judge Schmehl of the Eastern District of Pennsylvania denied a forced placed insurer’s Motion to Dismiss a suit brought by the assignee of a homeowner for water damage to the home. In Williams v....more

Washed Away: What Rights Do You Have When Your Home is Flooded?

by Gray Reed & McGraw on

Bill Deron bought a 100-acre tract next to a creek outside the City of Houston. Deron planned to build a subdivision where some of the homes abut a creek. The other homes would sit about 15 feet higher than the creekside...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part III

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

Alabama and Mississippi Insurance Law Questions Following Hurricane Nate

Hurricane Nate made landfall on the Mississippi Gulf Coast near the city of Biloxi on Sunday, October 8, 2017, as a Category 1 Hurricane. The eastern quadrant of the storm’s center also passed over significant portions of...more

Steps and Resources to Recover Homeowner Insurance Benefits After a Fire: A Tip-Sheet for Homeowner / Small Business Insurance...

by Farella Braun + Martel LLP on

Before worrying about an insurance claim, first ensure that you and your family, including pets and extended family, have their immediate needs met, particularly medical needs. When you are ready to begin the recovery...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part II

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

Illinois District Court Dismisses Case Filed By Insurance Department, As Rehabilitator, Against Reinsurer

by Carlton Fields on

The District Court for the Northern District of Illinois dismissed a complaint filed by Plaintiff-Rehabilitator, the Illinois Director of Insurance, against Defendant-Reinsurer, Twin Rivers, alleging breach of contract,...more

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part I

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

Real Property, Financial Services, & Title Insurance Update: Weeks Ending September 22 & 29, 2017

by Carlton Fields on

REAL PROPERTY UPDATE - - Constructive Notice: a memorandum of agreement that is recorded in the official records of the county in which the property is located and refers to an unrecorded agreement entered into by the...more

Residency and Personal Property Opinion Vacated

by Steptoe & Johnson PLLC on

Based upon the agreement of the parties, the United States District Court for the Southern District of West Virginia vacated and withdrew the memorandum opinion previously issued by the Court in Shank v. Safeco Ins. Co. of...more

Hurricane Harvey: Triple Landfall on the Texas Gulf Coast

by Wilson Elser on

While Hurricane Harvey will be remembered in the Texas Coastal Bend area for its punishing high winds, it is the days of rainfall and the historic flooding that will make Harvey the most destructive and expensive natural...more

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