Residential

  • March 14, 2024

    Lehman Brothers Can't Undo Trial Loss Over Crisis-Era CDS

    A New York appeals court on Thursday affirmed a bench trial loss Lehman Brothers' bankrupt European unit suffered last year in a suit attempting to claw back nearly half a billion dollars from Assured Guaranty over losses on credit default swaps tied to the 2008 financial crisis.

  • March 14, 2024

    Lawmakers Secure $1.3B For Native American Housing

    A record $1.34 billion will go toward Native American housing programs as part of an appropriations package passed by Congress, a $324 million increase over last year's funding.

  • March 14, 2024

    NYC Developer Lands $150M For Sears Building Renovation

    Clipper Equity LLC secured nearly $150 million in financing from Slate Property Group's debt financing arm for the renovation of a historically landmarked former Sears location, in a deal guided by Seyfarth Shaw LLP.

  • March 14, 2024

    11th Circ. Says Vet Homelessness Grant Suit Is Moot

    The Eleventh Circuit ruled that claims brought by a Florida nonprofit when the U.S. Department of Veterans Affairs terminated five grants to reduce veteran homelessness after a financial audit were mooted by later agency actions.

  • March 13, 2024

    Developer Must Arbitrate Defamation Case, Court Hears

    A California man who's been accused of publicly badmouthing a Mexican developer of luxury homes in Baja California Sur to put off prospective buyers is urging a New York court to toss the developer's defamation suit against him or send the claims to an ongoing arbitration in Mexico.

  • March 13, 2024

    NJ Justices Craft Framework For Support Pet Accommodation

    The New Jersey Supreme Court on Wednesday outlined how courts should assess accommodation requests for emotional support animals, reviving condo owners' claims that they were entitled to keep a dog more than double the weight limit allowed under the condominium association's policy.

  • March 13, 2024

    Mich. Justices Open To Counties' Foreclosure Liability Fears

    Two members of the Michigan Supreme Court seemed sympathetic to Michigan counties urging the court to limit their liability for holding onto surplus tax foreclosure proceeds, highlighting during oral arguments that counties were following state law in a practice that was later deemed unconstitutional.

  • March 13, 2024

    Fla. Restaurateur Says Seller Broke $7.3M Colo. Home Deal

    A Miami restaurateur is suing an Aspen family trust for allegedly pulling out of a deal for him to buy a $7.3 million property in the Colorado mountain town, claiming they had no right to terminate the deal over their failure to obtain a demolition permit.

  • March 13, 2024

    NYC Condo Developer's Ch. 11 Liquidation Plan Gets OK

    A Delaware bankruptcy judge on Wednesday approved the Chapter 11 liquidation plan of 540 West 21st St. Holdings LLC, the developer of a scrapped luxury condo project in New York City's West Chelsea neighborhood, overruling an objection from the managers of a neighboring building.

  • March 13, 2024

    Mass. Justice Presses AG On Fast-Track Bid For Zoning Case

    A Massachusetts high court justice on Wednesday expressed concerns about the state attorney general's aggressive bid to fast-track the enforcement of a divisive housing law to the full court as soon as May.  

  • March 13, 2024

    Ore. Tax Court Restores Property Value To Local Assessment

    Neither the owner of a residential riverfront property in Oregon nor a county assessor showed enough evidence to change the county's $72,000 valuation, the Oregon Tax Court has ruled, rejecting the higher value found by the court's magistrate division.

  • March 13, 2024

    San Francisco Voters Pass Residential Conversion Tax Break

    San Francisco voters have passed a ballot measure that will exempt up to 5 million square feet of residential conversions from real estate transfer taxes — a measure that Mayor London Breed predicted would spur housing production and reduce downtown office vacancy rates.

  • March 13, 2024

    Colo. Lawmakers Try Again With Major Land-Use Overhaul

    After a contentious and failed effort to overhaul state zoning law in one fell swoop last year, Colorado lawmakers have come back in 2024 with dozens of housing-related bills that break last year's effort into more palatable chunks.

  • March 13, 2024

    Cozen O'Connor's Lobbying Arm Adds Land Use Expert In NY

    The former chair of New York City's Landmarks Preservation Commission and the Board of Standards and Appeals has joined Cozen O'Connor Public Strategies, an affiliate of the international law firm Cozen O'Connor, as a senior principal.

  • March 12, 2024

    HUD Withholds Refunds Due To Homeowners, Suit Says

    The U.S. Department of Housing and Urban Development was hit Tuesday with a proposed class action in Florida accusing the agency of failing to refund homeowners $384 million in mortgage insurance premium overpayments when they terminated their government-backed mortgages early.

  • March 12, 2024

    Yardi, Landlords Say Hagens Berman Can't Lead Antitrust Suit

    Property management software company Yardi Systems Inc. and multiple landlords are fighting a putative class's bid to appoint Hagens Berman Sobol Shapiro LLP as interim lead counsel for a rent price-fixing class action in Washington federal court.

  • March 12, 2024

    FEMA Claims Process Leaves NM Fire Victims Lost, Suit Says

    Five New Mexico residents are suing the Federal Emergency Management Agency over its response to a massive 2022 fire, alleging it has created delay, confusion and ambiguity in the claims process for the fire's victims.

  • March 12, 2024

    MV Realty Says NC AG Is Working For Real Estate Industry

    Embattled Florida-based real estate company MV Realty told the North Carolina Supreme Court the state's attorney general is "wielding the power of the state under the guise of consumer protection" to shut down the business at the behest of "entrenched real estate brokerage interests."

  • March 12, 2024

    NYC Rezoning Efforts Center On Housing, COVID Changes

    New York City has taken tentative first steps on major rezoning initiatives that aim to encourage housing development in a manufacturing-heavy district of Manhattan and streamline zoning text to promote small business growth.

  • March 12, 2024

    Judge OKs Ch. 7 Liquidation For Reverse Mortgage Co.

    A Delaware bankruptcy judge Tuesday converted Reverse Mortgage Investment Trust Inc.'s Chapter 11 case to a Chapter 7 liquidation, saying the debtor's plan administrator's request for conversion has "good and sufficient cause" under the Bankruptcy Code.

  • March 12, 2024

    NY Lawmakers Float Income Tax Increases On High Earners

    New York lawmakers proposed temporarily increasing income tax rates on individuals and corporations with more than $5 million of income in budget proposals the chambers released Tuesday, rebuking Gov. Kathy Hochul's pledge not to raise taxes that could drive high earners outside the state.

  • March 12, 2024

    Trustee Claims MV Realty Used Ch. 11 To Dodge State Actions

    The U.S. trustee in the Chapter 11 bankruptcy of MV Realty argued on Tuesday that a Florida federal judge should dismiss or convert the case, alleging that the real estate company is simply using the action to stall state prosecutors and rack up fees against homeowners instead of reorganizing.

  • March 12, 2024

    Guarantor Owes $29M For Chicago Property Loan, Suit Says

    A real estate investment manager has accused a loan guarantor in New York federal court of failing to cover the more than $29 million in outstanding debt on a Chicago apartment building.

  • March 12, 2024

    NY Homeowners Settle Suit Over Legal Rep For Foreclosures

    Two Brooklyn homeowners agreed to settle a proposed class action accusing New York court administrators and justices of failing to assess whether unrepresented homeowners are eligible for free legal counsel in initial settlement conferences for foreclosure suits.

  • March 12, 2024

    Top Real Estate Issues Tackled By Fla. Lawmakers In 2024

    Real estate matters remained a high priority for the Florida Legislature during its 2024 session, which wrapped up Friday with lawmakers making revisions to a landmark housing bill, imposing statewide vacation rental regulations, and taking further steps to shore up condominiums and community associations.

Expert Analysis

  • How CRE Loans Would Shift Under New Bank Capital Rules

    Author Photo

    Attorneys at MoFo discuss how commercial real estate loans would fare under federal banking agencies' proposed changes to how large banks risk-weight loans, particularly how CRE loans are weighed based on the current standardized framework versus the proposed expanded approach.

  • Proactive Measures While NY Foreclosure Law Is In Limbo

    Author Photo

    While questions about the scope and constitutionality of New York's Foreclosure Abuse Prevention Act might not be resolved by courts for years, lenders, borrowers and other interested parties can take action to protect their rights and potentially expedite appellate review, say Allison Schoenthal and Andrew Kim at Goodwin.

  • EB-5 Investment Period Clarification Raises More Questions

    Author Photo

    U.S. Citizenship and Immigration Services' recent clarifying guidance for EB-5 investors, specifying that the statutory investment period begins two years from the date of investment, raises as many questions as it answers given related agency requirements and investors' potential contractual obligations, says Daniel Lundy at Klasko Immigration Law Partners.

  • How NY Residential Property Condition Disclosure Is Shifting

    Author Photo

    New York's recent significant amendments to the Property Condition Disclosure Act provide a new focus on the risk and damage from flooding, and the changes will affect the duties and standard of practice for real estate brokers, as well as liability and compliance for sellers and landlords, says Steven Ebert at Cassin & Cassin.

  • Conn. Banking Brief: The Notable Compliance Updates In Q3

    Author Photo

    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Mass. Banking Brief: The Notable Compliance Updates In Q3

    Author Photo

    Among the most significant developments in the financial services space in the third quarter of the year, the Massachusetts Supreme Judicial Court handed down a stunning endorsement of the state's fiduciary duty rule, and banking regulators continued their multiyear crackdown on unregistered entities, say attorneys at Mintz.

  • Insurance Rulings Continue Expansion Of Appraisal's Ambit

    Author Photo

    Two recent Illinois insurance cases allowing property damage appraisers to determine causation — Wysoczan v. Cambridge in federal court and Shelter v. Morrow in state appellate court — perpetuate a judicial trend that will result in a slower, more expensive and cumbersome appraisal process that resembles litigation, says Matthew Fortin at BatesCarey.

  • In The CFPB Playbook: The Bureau In The Courts

    Author Photo

    From defending the constitutionality of its funding and the scope of its rulemaking authority in the courts to releasing more nonbinding guidance, the Consumer Financial Protection Bureau had a busy summer. Orrick's John Coleman discusses all this and more in the second installment of quarterly bureau activity recaps by former CFPB personnel.

  • Fintech Cos. Should Consider Asset-Based Financing For RE

    Author Photo

    Fintech companies that own or plan to acquire real property may be able to utilize asset-based financings to access more efficient and cost-effective forms of capital beyond traditional venture capital sources, say attorneys at Mayer Brown.

  • What To Consider When Converting Calif. Offices To Housing

    Author Photo

    In light of California legislators' recent efforts to expedite the process for converting offices into residential buildings, developers should evaluate both the societal upsides, and the significant economic and legal hurdles, of such conversions, says Steven Otto at Crosbie Gliner.

  • How New Lawyers Can Leverage Feedback For Growth

    Author Photo

    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • 9 Consumer Finance Issues To Note From CFPB Report

    Author Photo

    A recent report from the Consumer Financial Protection Bureau highlights abusive consumer finance tactics that the agency uncovered during supervisory examinations over the last year — among the most significant issues identified: deceptive practices in automotive loan servicing, and consumer reporting and debt collection compliance failures, say attorneys at Troutman Pepper.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

    Author Photo

    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.