Residential
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June 02, 2023
NYC Housing Marketer Seeks to Block Bias Suit Discovery
A New York City housing marketing platform, iAfford LLC, asked a federal judge to put discovery on hold in a case alleging it ran afoul of fair housing law by imposing a blanket ban on prospective renters with a criminal history.
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June 02, 2023
Investor Attys Nab $5.5M In SEC $170M Ponzi Suit
A Florida federal judge has awarded $5.5 million in attorney fees to counsel representing investors in a $170 million Ponzi scheme suit lodged by the U.S. Securities and Exchange Commission against a Florida real estate company.
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June 02, 2023
CEQA Suits A Major Holdup For Calif. Housing, Study Finds
A recent Holland & Knight study found that California Environmental Quality Act lawsuits continue to be a major threat to housing production in the Golden State, partly due to the state courts' increasingly expansive and creative interpretations of the statute.
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June 02, 2023
Condo Board Had $20M For Storm Repairs, Owners' Suit Says
A putative class of condominium owners accused the board of directors of a Louisiana condominium building of asking them for additional funds to repair their condominium units despite having $20 million in insurance proceeds following 2021's Hurricane Ida.
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June 02, 2023
Bilzin Sumberg Adds Ex-Weiss Serota RE Chair In Miami
Bilzin Sumberg Baena Price & Axelrod LLP has brought on the former chair of Weiss Serota Helfman Cole & Bierman's real estate practice and a 30-year veteran in the areas of law, real estate development and finance and banking, the firm announced Friday.
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June 02, 2023
Ocwen, Wells Fargo Beat ERISA Suit Over Mortgages
Ocwen Financial Corp. and Wells Fargo defeated a union pension fund's suit claiming the companies violated the Employee Retirement Income Security Act by exploiting homeowners during the financial crisis, as a New York federal judge ruled the mortgage-backed securities at issue weren't plan assets.
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June 01, 2023
OIG Again Dings HUD Over Public Housing Inspections
The U.S. Department of Housing and Urban Development's Office of Inspector General admonished the department over how it inspects public housing for safety issues in an audit report, which came after a prior report chided its track record with deadlines.
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June 01, 2023
Delinquencies Rise In Commercial, Multifamily Mortgages
The rates of delinquent commercial and multifamily mortgages held by the five largest investor groups increased in the first quarter of 2023, according to a report released Thursday by the Mortgage Bankers Association.
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June 01, 2023
Attys Seek $13.4M Fee Award In Academy Mortgage FCA Suit
Attorneys representing a whistleblower have asked a California judge to award $13.4 million in fees after reaching a $38.5 million deal with Academy Mortgage to resolve a False Claims Act case.
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June 01, 2023
Fla. Enacts Property Insurance Overhaul For Policyholders
Florida overhauled its property insurance laws, bolstering policyholder protections and imposing greater oversight including increased potential penalties for carrier misdeeds in the state, under a new law to take effect in July.
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June 01, 2023
Md. To Boost Tax Break For Indemnity Mortgage Transactions
Maryland will increase by $9.5 million a tax exemption threshold for certain indemnity mortgage transactions under a bill that became law without the governor's signature.
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June 01, 2023
Builder Says Landowner Broke $3.5M Deal By Dodging Taxes
Dallas-area builder Lone Star Green Homes LLC says a landowner didn't disclose that it hadn't paid property taxes on land it was selling to the company, and later used its earnest money to pay fees for a different property.
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June 01, 2023
Airbnb, Hosts Say NY Law Bans Short-Term Rentals
Airbnb and its hosts say a recent New York City law is a "de facto ban" on short-term rentals, arguing in New York state court Thursday the law wrongfully requires property owners to provide the city with private information, such as how many residents in a unit aren't related to the host.
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June 01, 2023
Plaintiffs' Counsel To Pitch Roles Leading RealPage Litigation
A Tennessee federal judge has told counsel to submit applications next week to lead class action litigation accusing landlords of using RealPage Inc. software to systematically raise rental costs in the U.S.
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June 01, 2023
Real Estate Rumors: BofA, Sotheby's, Angelo Gordon
Bank of America has reportedly paid $55.5 million for an Illinois industrial property, Sotheby's is said to be moving its headquarters to Madison Avenue in New York, and Angelo Gordon has reportedly paid $72.1 million for a Twin Cities-area printing facility.
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June 01, 2023
No Loss Shown In Mich. Preschool Zoning Spat, Judge Says
A federal judge has sided with a Michigan township in a lawsuit over a denied permit application for a new preschool, ruling the school site's owner failed to show there was a "constitutionally protected interest" for the special use of its property and that the permit denial counted as a taking.
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June 01, 2023
NY Senate OKs Ending Opportunity Zone Tax Breaks
New York state and city would fully decouple from federal opportunity zone tax breaks under a bill passed by the state Senate.
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June 01, 2023
Mortgage Lender Can't Duck Suit Over Rival's Trade Secrets
A New Jersey federal judge has refused to dismiss Paramount Residential Mortgage Group's suit claiming it lost at least $3 million after a rival raided several of its employees, saying it adequately laid out a "laundry list" of trade secrets its rival allegedly misappropriated.
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June 01, 2023
RKF Global Says Client Owes $500K In Fees For Iraq Project
A developer building a self-contained city in the Anbar region of Iraq is on the hook for roughly $527,000 in attorney fees for legal work associated with the project, Illinois law firm RKF Global said in a state court lawsuit.
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June 01, 2023
Pa. Contractor Sues Developer For Killing $1M Site-Prep Plan
A construction company has accused a developer in Pennsylvania state court of illegally backing out of an agreement for it to perform $1.3 million worth of site-prep work for a senior housing project, after the developer received a cheaper quote from another contractor.
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June 01, 2023
Ex-FHFA Head Talks Housing Finance During COVID
In an interview with Law360, ex-director of the Federal Housing Finance Agency Mark Calabria revisits his agency's response to the housing turmoil unleashed by COVID-19, reflects on what ultimately worked and what didn't, and offers criticism of the FHFA's direction following his departure.
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June 01, 2023
Wells Fargo Sues Partner Lender For Defective Mortgages
A lender that court filings show recently laid off most of its staff faces a lawsuit from Wells Fargo for failing to provide proper documentation for mortgages it sold to the San Francisco-based bank.
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June 01, 2023
Condo Co. Fights Insurer's Efforts To Nix $2.5M Repair Verdict
A condo developer that won a $2.5 million jury award against Allied World Specialty Insurance Co. in April urged a Colorado federal court not to disturb the results of the trial, arguing that the insurer can't show any fatal flaws in the verdict.
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June 01, 2023
CoreLogic Says 33M US Homes Face Some Hurricane Risk
Property information company CoreLogic said 33 million U.S. homes have at least a moderate risk of damage from hurricane-force winds, in a report that marks the start of the Atlantic hurricane season on Thursday.
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May 31, 2023
Berkeley Asks Full 9th Circ. To Review Natural Gas Install Ban
The city of Berkeley asked the full Ninth Circuit on Wednesday to review a panel decision that revived the California Restaurant Association's challenge to the city's ban on the installation of natural gas piping in newly constructed buildings.
Expert Analysis
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Lawyer Discernment Is Critical In The World Of AI
In light of growing practical concerns about risks and challenges posed by artificial intelligence, lawyers' experience with the skill of discernment will position them to help address new ethical and moral dilemmas and ensure that AI is developed and deployed in a way that benefits society as a whole, says Jennifer Gibbs at Zelle.
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Don't Forget Alumni Engagement When Merging Law Firms
Neglecting law firm alumni programs after a merger can sever the deep connections attorneys have with their former firms, but by combining good data management and creating new opportunities to reconnect, firms can make every member in their expanded network of colleagues feel valued, say Clare Roath and Erin Warner at Troutman Pepper.
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Every Lawyer Can Act To Prevent Peer Suicide
Members of the legal industry can help prevent suicide among their colleagues, and better protect their own mental health, by learning the predictors and symptoms of depression among attorneys and knowing when and how to get practical aid to peers in crisis, says Joan Bibelhausen at Minnesota Lawyers Concerned for Lawyers.
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Issues For Housing Credit Investors Following Bank Failures
Amid the uncertainty caused by the bank failures last month, low-income housing tax credit investors may want to revisit underwriting criteria for their equity guarantors and certain provisions under their partnership agreements, say Brad Butler and Maci Followell at Frost Brown.
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10th Circ. Ruling Could Gut Homeowners' Ch. 13 Safety Net
The Tenth Circuit’s recent ruling in Doll v. Goodman could spell the end of Chapter 13 protection for consumers in a number of states, and if the decision is replicated in other circuits, homeowners across the country could lose their homes for lack of a viable bankruptcy administration, says former U.S. Bankruptcy Judge Catherine Bauer, now at Signature Resolution.
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FTC Proposal Greatly Widens Auto-Renewal Regulation
The Federal Trade Commission's proposed rule on automatic renewal subscriptions would impose significant new obligations on sellers of negative option plans and expand the agency's enforcement powers, likely requiring companies to examine and change their practices, say attorneys at Squire Patton.
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Do Videoconferences Establish Jurisdiction With Defendants?
What it means to have minimum contacts in a foreign jurisdiction is changing as people become more accustomed to meeting via video, and defendants’ participation in videoconferencing may be used as a sword or a shield in courts’ personal jurisdiction analysis, says Patrick Hickey at Moye White.
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Humanism Should Replace Formalism In The Courts
The worrying tendency for judges to say "it's just the law talking, not me" in American decision writing has coincided with an historic decline in respect for the courts, but this trend can be reversed if courts develop understandable legal standards and justify them in human terms, says Connecticut Superior Court Judge Thomas Moukawsher.
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20 Years On, Campbell Holds Lessons On Reining In Ratios
Twenty years ago, the U.S. Supreme Court's decision in State Farm v. Campbell provided critical guidance on the constitutionally permissible ratio of punitive to compensatory damages — and both Campbell and subsequent federal circuit court decisions informed by it offer important pointers for defendants, say attorneys at Dechert.
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Don't Let Client Demands Erode Law Firm Autonomy
As clients increasingly impose requirements for attorney hiring and retention related to diversity and secondment, law firms must remember their ethical duties, as well as broader issues of lawyer development, culture and firm integrity, to maintain their independence while meaningfully responding to social changes, says Deborah Winokur at Cozen O'Connor.
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IRS' Cost Method Update Is Favorable For RE Developers
The Internal Revenue Service's recent update to its alternative cost method will allow real estate developers to accelerate their cost recovery of improvements in certain circumstances and make it easier for practitioners to satisfy the method's tax compliance requirements, says Benjamin Oklan at Weil.
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Federal Judge's Amici Invitation Is A Good Idea, With Caveats
An Arkansas federal judge’s recent order — inviting amicus briefs in every civil case before him — has merit, but its implementation may raise practical questions about the role of junior attorneys, economic considerations and other issues, says Lawrence Ebner at the Atlantic Legal Foundation.
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Fox Ex-Producer Case Is A Lesson In Joint Representation
A former Fox News producer's allegations that the network's lawyers pressured her to give misleading testimony in Fox's defamation battle with Dominion Voting Systems should remind lawyers representing a nonparty witness that the rules of joint representation apply, says Jared Marx at HWG.