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Insurance Residential Real Estate

Read Insurance Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Defence + Indemnity: February 2018 - I. Insurance Issues B.

by Field Law on

I. INSURANCE ISSUES - B. The Court held that a duty to defend was triggered by pleadings alleging an escape of fuel oil onto neighbouring property despite a pollution exclusion clause in the policies, because the pleaded...more

FDIC Penalizes Two Banks for Flood Insurance Violations

by Weiner Brodsky Kider PC on

The FDIC recently assessed civil money penalties against a Michigan-based and a Wisconsin-based bank for allegedly violating the Flood Disaster Protection Act and the National Flood Insurance Act. Specifically, the FDIC...more

Sewer Authorities Could Owe Compensation For Repeated Sewage Overflows

Sewage backups tend to make relationships between landowners and their municipal sewer authorities rather, well, messy. When property is impacted by a sewer authority’s negligence, landowners would typically find a remedy in...more

Real Property, Financial Services, & Title Insurance Update: Week Ending March 2, 2018

by Carlton Fields on

REAL PROPERTY UPDATE - Foreclosure/Standing: borrower's standing arguments failed because they were based on notion that note changed hands after it was delivered to World Savings Bank in 2007, when in fact the note...more

Housing group announces settlement of FHA lawsuit alleging insurance-related discrimination

by Ballard Spahr LLP on

The National Fair Housing Alliance (NFHA) has announced a settlement in its lawsuit against Travelers Indemnity Company in which it alleged that Travelers engaged in discriminatory conduct in violation of the Fair Housing Act...more

Illinois Court Addresses Insured’s Entitlement To Replacement Cost Coverage

In the recent case of Libman v. Great Northern Ins. Co., 2018 U.S. Dist. LEXIS 24580 (N.D. IL February 15, 2018), the Court addressed whether a property owner was entitled to replacement cost coverage for loss at an insured...more

House Passes Bill to Amend TRID Rule Disclosures

by Ballard Spahr LLP on

On February 14, 2018, the United States House of Representatives passed the TRID Improvement Act of 2017, H.R. 3978, by a vote of 245 to 171. The bill would amend the manner in which title insurance premiums are disclosed...more

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

NYS Title Insurance Inducement/Marketing Regulations Go into Effect…for Now

by Morrison & Foerster LLP on

In October 2017, the New York State Department of Financial Services (DFS) announced new regulations designed to enforce a law prohibiting title companies and title agencies from obtaining title insurance business directly...more

Federal Reserve Board Fines Bank $90,000 in Connection with Violations of the National Flood Insurance Act

by Weiner Brodsky Kider PC on

The Federal Reserve Board recently entered into a consent order with a bank, fining it $90,000 for undisclosed violations of the National Flood Insurance Act....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

FEMA and New York City are Redrawing the City’s Flood Maps

The Federal Emergency Management Agency (FEMA) and New York City have announced that they will be working together to update the City’s flood flood-300x200maps. The need for updating FEMA’s flood maps has become more than...more

FEMA Flood Map Changes

by Harris Beach PLLC on

As reported by the New York Times earlier this month, the Federal Emergency Management Agency (“FEMA”) is “for the first time in three decades” redrawing flood maps in the state of New York. As noted, New York has over 500...more

WBK Secures Victory in RESPA Reinsurance Suit

by Weiner Brodsky Kider PC on

On January 19, 2018, the U.S. District Court for the Western District of Pennsylvania dismissed a putative class action against Citibank, N.A., CitiMortgage, Inc., and other entities in connection with arrangements for the...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

California Supreme Court Upholds SB800 As Exclusive Remedy, Disapproves Liberty Mutual

by Newmeyer & Dillion LLP on

N&D proudly announces that the California Supreme Court has unanimously agreed with our position and has ruled in support of the Right to Repair Act. The Supreme Court has spoken: The Legislature said what it meant, and...more

Guarding Against Escrow Fraud

Nancy Jackson Spinks, better known as Nancy Carroll, an attorney and former owner of Millennium Closing Services, LLC (“Millennium Title”) in the Dallas area, was sentenced on Wednesday, January 3rd, to 10 years in prison and...more

Flood or Fire: The Montecito Claims

by Selman Breitman LLP on

What is the Efficient Proximate Cause of the Devastating Mudslides in Southern California? At first glance, the destruction in Montecito, California and other areas of Santa Barbara and Ventura Counties on Monday, January...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

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