Residential

  • 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.

  • March 12, 2024

    Tenn. Senate Panel OKs Plan To Bar State Property Taxes

    Tennessee voters could decide whether to constitutionally bar state property taxes under a resolution approved Tuesday by a Senate panel to advance the measure to next year's General Assembly.

  • March 12, 2024

    Oak Row Lands $181M Loan On Miami Mixed-Use Project

    Oak Row Equities said it has closed on a $181 million construction loan from Bank OZK for a luxury office and multifamily tower in Miami's Edgewater neighborhood.

  • March 11, 2024

    Fed, Others Tell Judge New Community Lending Rule Is Legal

    The Federal Reserve Board and other banking agencies say that the American Bankers Association and other groups only sued to rewrite the Community Investment Act for their own ends, asking Friday for a Texas federal judge to reject the plaintiffs' call for a preliminary injunction.

  • March 11, 2024

    Landlords' Group Slams FCC Digital Equity Rule In DC Circ.

    A property owners' advocacy group has sued the Federal Communications Commission in the D.C. Circuit, claiming the agency soared well past its legal limits in passing a new broadband equity rule and will put renters' access to internet service at greater risk.

  • March 11, 2024

    Fewer NYC Rental Apartments' Tax Appeals Succeed

    Property tax assessment appeals from rental apartment buildings in 2023 received the lowest number of reduction offers in a decade and accounted for half the number of offers in 2022, law firm Rosenberg & Estis PC said in a Monday statement.

  • March 11, 2024

    DC Circ. Probes Gov't Trial Strategy For Ex-HUD Official

    A former assistant inspector general for the U.S. Department of Housing and Urban Development who is urging the D.C. Circuit to toss his conviction for falsifying government documents seemed to get a sympathetic ear from at least one judge during oral arguments on Monday.

  • March 11, 2024

    Travelers Owes No Coverage For Mo. Wall Mishap, Judge Says

    Travelers has no duty to provide over $1.4 million to a St. Louis area property developer for administrative expenses and loss of rental income stemming from a retaining wall failure, a Missouri federal court ruled Monday, finding such coverage didn't extend to additional insureds on a general contractor's policy.

  • March 11, 2024

    Class Says Realtors, Brokers Can't Escape $1.8B Verdict

    Plaintiffs in a nationwide class urged a Missouri federal judge to reject an attempt by Keller Williams, HomeServices of America Inc. and the National Association of Realtors to undo a $1.8 billion jury award by retroactively unraveling class certification.

  • March 11, 2024

    PulteGroup GC's Comp Fell For 2nd Straight Year To $2.6M

    The top legal leader for Atlanta-based PulteGroup saw his overall compensation decrease 15% last year, earning $2.6 million in 2023 compared to $3.1 million in 2022, as the homebuilder saw record home sales amid higher building costs and interest rates for buyers, according to a recent securities filing.

  • March 11, 2024

    Mich. Justices Tell Panel To Revisit 'Robotic' Tax Ruling

    A Michigan appellate panel must reconsider its decision to uphold the denial of a man's principal-residence tax exemption under the Michigan Supreme Court's order to gather more information about the evidence the tax tribunal considered, revisiting a decision one appellate judge labeled "robotic acceptance" of the government's evidence.

  • March 11, 2024

    Fla. Voters To Decide On Homestead Exemption Increase

    Florida will have voters decide on a November ballot measure whether to create a constitutional amendment to index the homestead exemption to inflation under a joint resolution passed by state lawmakers.

  • March 11, 2024

    NYC Real Estate Week In Review

    McDermott Will & Emery and Davis Polk are among the law firms that handled the largest real estate deals that hit New York City public records the week of March 4, with transactions north of $50 million in Queens and Brooklyn leading the way.

  • March 11, 2024

    HUD Secretary Marcia Fudge Announces Resignation

    U.S. Department of Housing and Urban Development Secretary Marcia L. Fudge announced Monday that she will retire after three years leading the agency.

  • March 08, 2024

    Justices Urged To Take Up 'Who Decides' Arbitration Question

    An international arbitration scholar has urged the U.S. Supreme Court to resolve whether a court or an arbitrator should decide a dispute's proper venue in cases involving nonsignatories to an arbitration agreement, an issue that's arisen in antitrust litigation over National Association of Realtor rules.

Expert Analysis

  • Transaction Risks In Residential Mortgage M&A Due Diligence

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    As the residential mortgage market continues to consolidate due to interest rate increases and low housing volume, buyers and sellers should pay attention to a number of compliance considerations ranging from fair lending laws to employee classification, say attorneys at Mayer Brown.

  • Ore. Warranty Ruling Complicates Insurance Classification

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    The Oregon Court of Appeals' recent TruNorth v. Department of Consumer and Business Services holding that a service contract — commonly referred to as an extended warranty — covering commercial property is subject to the state's consumer service contract laws raises regulatory questions for contract obligors, sellers and administrators, say attorneys at Locke Lord.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • FCRA Legislation To Watch For The Remainder Of 2023

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    If enacted, pending federal and state legislation may result in significant changes for the Fair Credit Reporting Act landscape and thus require regulated entities and practitioners to pivot their compliance strategies, say attorneys at Troutman Pepper.

  • Regulators Must Get Creative To Keep Groundwater Flowing

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    Even as populations have boomed in Sun Belt states like Arizona, California and Texas, groundwater levels have diminished due to drought and overuse — so regulators must explore options including pumping limits, groundwater replenishment and wastewater reuse to ensure future supplies for residential and commercial needs, says Jeffrey Davis at Integral Consulting.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • What Upholding Of Short-Term Rental Law Means For NYC

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    A New York state judge's dismissal of Airbnb's challenge against the Short-Term Rental Registration Law will benefit the city's hospitality industry and exert downward pressure on apartment rents, and potentially provide a model for other local governments around the U.S. to curb short-term apartment rentals, says Alexander Lycoyannis at Holland & Knight.

  • Key Provisions In Florida's New Insurer Accountability Act

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    Florida's recent bipartisan Insurer Accountability Act introduces a range of new obligations for insurance companies and regulatory bodies to strengthen consumer protection, and other states may follow suit should it prove successful at ensuring a reliable insurance market, say Jan Larson and Benjamin Malings at Jenner & Block.

  • Fair Lending Activity: Calm On The Surface, Churning Below

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    The Consumer Financial Protection Bureau's recently released annual fair lending report to Congress confirms that despite the paucity of public fair lending enforcement actions in 2022, the CFPB and prudential banking agencies are engaged in significant nonpublic oversight, examination and enforcement activities, say attorneys at Cooley.

  • The Basics Of Being A Knowledge Management Attorney

    Excerpt from Practical Guidance
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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • Negotiating Material Escalation In Construction Contracts

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    As material price escalation clauses have remained popular in construction contracts despite an easing of recent supply chain issues, attorneys representing owners should understand key considerations for negotiating such clauses, and strategies to mitigate potential exploitation by contractors, says H. Arthur Black II at Brooks Pierce.

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.