Residential

  • March 27, 2024

    Developers Get Creative With Adaptive Reuse In South Florida

    South Florida residents may not be expecting to attend a doctor's appointment in a shuttered movie theater, play pickleball in a former warehouse or move into an apartment building in a shopping center's parking lot, but creative redevelopment projects like these are catching on in the region.

  • March 27, 2024

    Extreme Heat Presents Extreme Threat To Real Estate

    Extreme heat and the growing body of risks created by climate change are becoming prominent factors in real estate deals, according to Urban Land Institute urban resilience vice president Lindsay Brugger.

  • March 26, 2024

    Meridian Capital Taps Former Top Regulator As New CEO

    Meridian Capital Group announced Tuesday that it has appointed top banking executive and former financial regulator Brian Brooks as its CEO and chairman amid a breakdown in the firm's relationship with Freddie Mac.

  • March 26, 2024

    Pilot HOA Tells Justices Rail Easement Clouds Airstrip Access

    An Alaska homeowners association made up largely of pilots has asked the U.S. Supreme Court to review a Ninth Circuit ruling granting a railroad full control of an easement jutting into an airstrip used by residents of a surrounding subdivision.

  • March 26, 2024

    Essex Buys Out West Coast Apartment JV Partner For $505M

    Essex Property Trust Inc. announced that it will purchase a joint venture partner's stake in an apartment property portfolio that includes four properties along the West Coast for $505 million, according to a statement from the company.

  • March 26, 2024

    Rosenberg & Estis Guides $477M NYCHA Renovation Deal

    Rosenberg & Estis PC represented a developer for its more than $477 million renovation contract for the New York City Housing Authority's Saint Nicholas Houses in Harlem, the firm told Law360 on Tuesday.

  • March 26, 2024

    Ohio Justices Cool To Curbing Board's Tax Appeal Rights

    Two Ohio Supreme Court justices sounded skeptical Tuesday of an apartment complex's argument that a law barring political subdivisions from appealing certain valuation rulings applied to complaints that were pending when the restriction took effect.

  • March 26, 2024

    Brookfield Sets Terms For Bay Area's Biggest Housing Plan

    The San Francisco Bay Area's biggest proposed housing development took a step forward as Brookfield Properties and city officials struck a deal on the framework of a plan to develop a new neighborhood in Concord, California, over a 40-year period at the site of a former U.S. Navy base.

  • March 26, 2024

    Deal Holdout HomeServices Can't Undo Sellers' Class Cert.

    A Missouri federal judge refused Tuesday to grant class decertification sought by HomeServices of America, the lone holdout still fighting a jury verdict that pushed the National Association of Realtors into a settlement overhauling rules that have effectively restricted how brokers buy and sell homes and how they're paid.

  • March 26, 2024

    NC Justices Find BofA Mortgage Fraud Suit Filed Too Late

    The North Carolina Supreme Court has ruled that homeowners accusing Bank of America NA of fraud in a mortgage modification program filed their claims too late, finding they knew or should have known about the alleged fraud when their homes were foreclosed upon — four to seven years before they sued.

  • March 26, 2024

    Hurdles Ahead For Calif. Mental Health Bond After Narrow Win

    An ambitious ballot measure meant to address California's homelessness crisis may open up new business opportunities for healthcare providers, ease overcrowding in emergency rooms and inspire other states to follow suit. But it will likely bring less-welcome results as well.

  • March 25, 2024

    LoanDepot Settles Appraisal Bias Suit After Scholar's Death

    Mortgage company loanDepot has agreed to make policy changes and pay an undisclosed amount to resolve a Black couple's lawsuit claiming their Baltimore home was undervalued because of their race, just a couple of weeks after plaintiff Shani Mott, a scholar at Johns Hopkins University, died of cancer.

  • March 25, 2024

    Conn. Justice Chides Legislature In Landlord Lien Case

    Bemoaning what he perceived as an unclear statute and its unilluminating legislative history, Connecticut Supreme Court Justice Steven D. Ecker on Monday lamented having to make a significant policy decision about whether a city or a landlord should be financially liable for tenants displaced after fire damaged a large apartment.

  • March 25, 2024

    Full 10th Circ. Stands By Revival Of Valero Pipeline Leak Suit

    The full Tenth Circuit refused to budge from a panel's February decision that partly revived an Oklahoma cattle ranch's lawsuit seeking to hold Valero Energy Corp. liable for a pipeline leak that allegedly contaminated the ranch property.

  • March 25, 2024

    HUD Says Not Enough Housing For Trafficking Survivors

    The housing needs of human trafficking survivors facing homelessness or home instability aren't being met by housing programs across the country because many of them usually aren't "scaled to meet the need," according to a U.S. Department of Housing and Urban Development report.

  • March 25, 2024

    3rd Circ. Says NJ City Can't Stop Sale Of Failed Project's Sites

    The Third Circuit tossed a New Jersey city's challenge of a bankruptcy court ruling that allowed the two local properties of a failed affordable housing project to be sold to a third party, according to an unpublished opinion Monday.

  • March 25, 2024

    NJ Law Paves An Aggressive Affordable-Housing Path

    New Jersey Gov. Phil Murphy signed a bill that will overhaul the state's affordable housing framework, signaling state priorities with an aggressive approach that has already garnered pushback from municipalities.

  • March 25, 2024

    Jury Hands Mortgage Co. $73K Win In Trade Secrets Fight

    An Ohio federal jury has found that Revolution Mortgage owes just over $73,700 to competitor Equity Resources in a case where Equity accused its rival of misappropriation of trade secrets.

  • March 25, 2024

    'Infested Slum' Suit Warrants Class Cert., Conn. Justices Told

    Former tenants of a Hartford apartment complex are urging the Connecticut Supreme Court to let them pursue class claims that the complex turned into a "mold and cockroach infested slum," arguing in a hearing Monday that a lower court focused too heavily on the differences between the conditions of each unit.

  • March 25, 2024

    DeSantis OKs Bill Easing Teardown Of Old Coastal Buildings

    Florida Gov. Ron DeSantis has signed a bill limiting local control over the takedown and replacement of coastline structures that are out of step with building codes, after changes to the measure exempted some historic waterfront districts.

  • March 25, 2024

    High Court Won't Weigh In On ND Mineral Rights Takings Suit

    The U.S. Supreme Court on Monday declined to wade into a fight over oil and gas mineral rights underneath a North Dakota lake, rejecting former rights owners' argument that states' sovereign immunity does not protect them from takings claims in federal court.

  • March 25, 2024

    Law360 2024 Real Estate Authority Editorial Board

    Law360 is pleased to announce the formation of its 2024 Real Estate Authority Editorial Board, which includes leading industry experts, to provide feedback and shape coverage goals.

  • March 22, 2024

    OCC Fines Sterling Bank's Ex-COO $150K For Lax Oversight

    The former president of Michigan-based Sterling Bancorp Inc. has been ordered to pay $150,000 by the Office of the Comptroller of the Currency for allegedly failing to properly oversee the bank's Advantage Loan Program, which presented "high risks for fraud, money laundering, and lending misconduct."

  • March 22, 2024

    Feds Delay Community Lending Assessment Change To 2026

    Federal banking regulators have pushed back a looming implementation date for part of their revamped community lending rules, delaying the roll-out of certain changes in a move that is raising fresh criticism of the rulemaking amid an industry-backed legal challenge.  

  • March 22, 2024

    US Bank Ends $3.5B RMBS Trusts Suits Against BofA, Others

    U.S. Bank on Friday notified a New York federal judge it permanently discontinued two lawsuits against First Franklin Financial, Merrill Lynch Mortgage and Bank of America relating to substandard loans in residential mortgage-backed securities trusts worth $3.5 billion, two years after the parties reached a conditional settlement.

Expert Analysis

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.

  • Assessing The Future Of Colorado's Economic Loss Rule

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    The Colorado Supreme Court's decision to review a state appellate court's ruling in Mid-Century Insurance Co. v. HIVE Construction will significantly influence the future of Colorado's economic loss rule, with high stakes for the cost of doing business in the state, says David Holman at Crisham & Holman.

  • How Recent Laws Affect Foreign Purchase Of US Real Estate

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    Early diligence is imperative for U.S. real estate transactions involving foreign actors, including analysis of federal and state foreign investment laws implicated by the transaction, depending on the property's nature and location, the parties' citizenship, and the transaction's structure, say Massimo D’Angelo and Anthony Rapa at Blank Rome.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • High Court Case Could Reshape Local Development Fees

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    If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.

  • White Collar Plea Deals Are Rarely 'Knowing' And 'Voluntary'

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    Because prosecutors are not required to disclose exculpatory evidence during plea negotiations, white collar defendants often enter into plea deals that don’t meet the U.S. Supreme Court’s “knowing” and “voluntary” standard for trials — but individual courts and solutions judges could rectify the issue, says Sara Kropf at Kropf Moseley.

  • How 2 CFPB Advisory Opinions Affect Reporting Agencies

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    The Consumer Financial Protection Bureau issued two advisory opinions last month that demonstrate a continued commitment to address inaccuracies in background check reports and consumer file disclosures through broad interpretation of the Fair Credit Reporting Act, expanding on a coordinated federal agency effort, say attorneys at Cooley.

  • Algorithmic Pricing Programs Caught In Antitrust Crosshairs

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    The Justice Department's investigation into software company RealPage follows a host of federal antitrust cases alleging that property owners and casino hotel operators use the same proprietary software programs to fix and maintain pricing, which means algorithmic pricing programs are considered a key price-fixing tool in the digital age, say attorneys at Ballard Spahr.

  • A Welcome Turning Of The Page For Residential Real Estate

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    After one of the most challenging years on record for residential real estate, 2024 will likely be a time of transition to a stabler business climate, as sellers lose some of their excess bargaining power and the pace of sales picks up, says Marty Green at Polunsky Beitel.

  • Strict Duty To Indemnify Ruling Bucks Recent Trend

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    A South Carolina federal court's recent decision that it lacked subject matter jurisdiction to decide an insurer's duty to indemnify prior to the finding of insured liability sharply diverges from the more nuanced or multipronged standards established by multiple circuit courts, says Richard Mason at MasonADR.

  • Ill. Insurance Ruling Helps Developers, Community Orgs. Alike

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    The Illinois Supreme Court's decision in Acuity v. M/I Homes of Chicago, holding that commercial general liability policy exceptions did not prevent coverage for damage caused by faulty workmanship, will bring more potential insurance coverage for real estate developers and, in turn, larger payouts when community organizations sue them, say Howard Dakoff and Suzanne Karbarz Rovner at Levenfeld Pearlstein.

  • NJ Foreclosure Law Will Have Multifaceted Impact On Lenders

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    New Jersey's A.B. 5664 introduces significant reforms to foreclosure proceedings in the state, potentially lessening the burden on lenders and servicers to maintain foreclosed properties, but also brings new limitations and time frames, say Christina Livorsi and Wael Amer at Day Pitney.

  • 11 Noteworthy CFPB Developments From 2023

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    Under Rohit Chopra’s leadership, 2023 was an industrious year for the Consumer Financial Protection Bureau, with developments including the release of the proposed personal financial data rights rule, publication of proposed rules involving public registries for nonbanks and the bureau's continuous battle against junk fees, all of which are sure to further progress in 2024, say attorneys at Husch Blackwell.