A housing consumer credit service agreed Wednesday to pay more than $1 million to settle a nationwide class action brought in New York by jilted renters claiming it violated the Fair Credit Reporting Act by reporting outdated court judgments to landlords.
A Missouri federal judge granted summary judgment Wednesday to CitiMortgage Inc. in its suit alleging Allied Mortgage Group sold it more than $1 million in defective loans and refused to repurchase them, finding Allied had breached its contract with Citi.
A British financial regulator on Thursday published a set of rule reforms it said would put “common sense” into the U.K. mortgage market and help protect mortgage borrowers from being given loans they cannot repay by unscrupulous lenders.
American Campus Communities Inc. has nearly completed due diligence on its proposed $862.8 million deal for 19 student-housing properties, it said Thursday, pushing the developer closer to finalizing a purchase of the assets from private equity firm Kayne Anderson Capital Advisors LP.
Lexington Insurance Co. urged a California federal judge on Wednesday to dismiss a pipe company's $35 million suit seeking coverage for damage to a University of California construction project caused by faulty piping, saying the complaint was filed after the policy's statute of limitations expired.
A California judge on Friday agreed to toss certain suits against Countrywide Financial Corp. and related entities, including parent Bank of America Corp., in which European banks and investors accused them of fraudulently overstating the quality of more than $2 billion in residential mortgage-backed securities.
Real estate mogul Bart Blatstein, president and CEO of regional developer Tower Investments Inc., on Wednesday unveiled the details of his plan to build a $700 million resort and casino in the center of Philadelphia at the former headquarters of the Philadelphia Inquirer newspaper.
An Australian hedge fund that lost big after it bet on collateralized debt obligations Citigroup Global Markets Inc. built out of high-risk mortgages filed notice Wednesday that it planned to sue the giant investment bank to recoup nearly $78 million.
The Federal Insurance Deposit Corp. lost a bid in District of Columbia federal court Wednesday to compel JPMorgan Chase Bank to produce privileged documents in Deutsche Bank National Trust Co.'s $10 billion suit alleging Washington Mutual Bank NA issued shoddy mortgages before it was seized by regulators.
The Second Circuit affirmed Wednesday that guidelines by the Federal Housing Finance Agency and the Office of the Comptroller of the Currency regarding Fannie Mae and Freddie Mac's treatment of mortgages secured by properties with liens related to unpaid energy efficiency loans were allowable.
The U.S. Department of Justice's $1 billion False Claims Act suit accusing Bank of America Corp. of selling bad mortgages to Fannie Mae and Freddie Mac represents the first shot in a battle that could target other financial institutions that sold loans to the troubled mortgage giants, experts said Wednesday.
A longshoreman union filed a suit in Washington state court last week to block a proposed $490 million basketball stadium in Seattle from being built, contending that the traffic congestion it will bring will cause significant damage to the area's maritime industry.
The head of the New Jersey Department of Community Affairs told lawmakers Wednesday that a federally funded program to help struggling homeowners avoid foreclosure was not run well but is now on the right track, with more loans closed under the program last week than all of 2011.
The Related Cos. LP has reached an agreement with Bank of America Corp. and other lenders for $400 million in construction financing for its 1.7 million-square-foot tower at New York City's Hudson Yards, according to Wednesday news reports.
Georgia-based mortgage loan servicer Ocwen Financial Corp. on Wednesday beat out stalking horse Nationstar Mortgage Holdings Inc. with a $3 billion bid for the mortgage servicing and origination platform of bankrupt real estate finance firm Residential Capital LLC.
Four property investors filed a new suit Tuesday over a $150 million loan tied to a Las Vegas resort and casino, saying that their new allegations overcome a New York state judge's ruling that they didn't have the support of enough investors to sue.
Standard Fire Insurance Co. urged the U.S. Supreme Court on Monday to rule that plaintiffs bringing class actions cannot dodge federal jurisdiction by vowing to seek no more than $5 million in damages — a threshold set by the Class Action Fairness Act — arguing it is well-settled that named plaintiffs cannot restrict the rights of putative class members.
After months of negotiation, Covington & Burling LLP officially inked a new 20-year lease to become the anchor office tenant of CityCenter DC, a massive mixed-use development going up in downtown Washington, D.C., the firm and the building developers said Tuesday.
Attorneys Thomas H. Godwin and Robert Tauler said Tuesday they have opened a boutique trial and appellate law firm called Godwin Tauler LLP in Los Angeles, specializing in commercial litigation, class action defense, real estate, securities and intellectual property.
Austin, Texas' planning commission voted Tuesday night to give a negative recommendation for a proposed $90 million boutique hotel that is being battled by the owners of neighboring office properties.