Residential
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March 22, 2023
Norfolk Southern CEO Treads Carefully In Rail Regs Debate
Norfolk Southern Corp.'s chief executive told a Senate panel Wednesday that he supports the intent of rail safety legislation in the wake of last month's Ohio derailment, but sidestepped lawmakers' demands that his company promise to maintain certain hiring and staffing levels.
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March 22, 2023
Real Estate Rumors: Griswold, Richmar, Makras
Alexander Griswold has reportedly paid $12.1 million for a Palm Beach Gardens office building, Richmar Properties is said to have sold a Georgia shopping center for $13 million and Victor Makras has reportedly paid nearly three times the asking price of $5.7 million for a California home.
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March 22, 2023
NC Court Backs Co.'s Win In Real Estate Financing Row
A North Carolina appellate court backed a company's win against real estate investors who accused the company of wrongfully reducing a loan balance for a purchase money note related to a $12 million North Carolina land purchase, ruling that one of the investors admitted that he didn't read a related agreement.
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March 22, 2023
Insurer Lowballs Hail Damage By $4M, Complex Owner Says
AmGuard Insurance Co. underestimated hailstorm damage to a 12-building apartment complex by more than $4 million, the buildings' owner told a Texas federal court.
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March 22, 2023
Insurer Can't Duck HOA's Fraud Claim, Court Told
An insurer cannot duck a homeowners association's claims of fraud stemming from its refusal to cover the association in litigation involving a couple who suffered burns in a house fire, the HOA told a California federal court, saying its counterclaims were sufficiently pleaded.
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March 22, 2023
Floated Look-Through Tax Rules May Impact Existing REITs
Long-established U.S. real estate investment trusts may feel the effects of proposed U.S. Treasury Department regulations that would, in a manner of speaking, retroactively look through the corporate shareholders of REITs to determine whether their foreign investors qualify for certain tax exemptions.
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March 22, 2023
Housing Watchdog Aims To Avoid Rehash Of Bias Suit Order
A housing watchdog urged a New York federal court not to rehash an earlier order refusing to allow 14 landlords and brokers to duck claims they discriminated against tenants who rely on federal vouchers to pay rent, saying the court applied the correct standard for the pleading stage.
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March 22, 2023
NYC Housing Pipeline Slowed In February, Trade Group Finds
Data on recently filed permit applications in New York City suggest that 2023 continues to see far fewer new multifamily housing projects in the works compared to last year, the Real Estate Board of New York said in a report this week.
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March 22, 2023
Discovery Paused In NC Mortgage Kickback Class Action
A North Carolina federal judge has granted a stay in discovery in a class action accusing a real estate agency of pushing clients toward a mortgage lender for kickbacks, reasoning that if a pending dismissal bid is granted, then the time and resource devoted to the process would be wasted.
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March 22, 2023
Atlanta's PulteGroup GC Saw Pay Drop To $3.1M In '22
The general counsel for Atlanta-based homebuilder PulteGroup Inc. earned more than $3.1 million in 2022, marking a 12% decrease in total compensation from the nearly $3.6 million he earned the year before as supply chain issues and rising interest rates impacted the company, according to its latest proxy statement.
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March 22, 2023
McGlinchey Names Financial Services Litigation Co-Chair
McGlinchey Stafford PLLC named current Nashville managing member Shaun Ramey as the new co-chair of its financial services litigation practice, according to an announcement by the firm.
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March 22, 2023
Ex-LA Official Can't Get Mistrial Yet Over Atty's Sudden Illness
Former Los Angeles deputy mayor Raymond Chan's bribery trial, which has been postponed since his attorney fell ill on March 2, remained in limbo Wednesday when a California federal judge stopped short of Chan's request for a mistrial, instead ordering medical updates and setting a hearing for next month.
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March 22, 2023
Law Firm Not Covered In $459K Wire Fraud Suit, Insurer Says
A law firm can't get coverage under its ALPS Property & Casualty Insurance Co. policy for a lawsuit claiming it lost an entire $459,000 mortgage payment to a scammer, the insurer told a Vermont federal court.
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March 21, 2023
9th Circ. Partially Revives Suit Over Seattle Tenant Check Law
The Ninth Circuit partially revived a suit challenging a 2017 Seattle law that bars landlords from looking into current or potential tenants' criminal records, ruling on Tuesday that the inquiry provision of the law "impinges" the landlords' First Amendment rights and its adverse action provision does not violate their due process rights.
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March 21, 2023
Newsom Seeks Denial Of City's TRO Bid In Housing Battle
California Gov. Gavin Newsom wants a federal judge to deny Huntington Beach's request for a temporary restraining order against the state's housing permitting authority, asserting that the city lacks standing and has no right to challenge the state's laws in federal court.
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March 21, 2023
HUD To Hand Out $54M For Fair Housing Act Enforcement
The U.S. Department of Housing and Urban Development announced Tuesday that it will dole out $54 million to 182 organizations working to end housing discrimination and enforce the Fair Housing Act.
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March 21, 2023
Novel Suit Calls La. Chemical Plant Approvals Racist
Activists in a Louisiana parish west of New Orleans sued the local government in federal court Tuesday, alleging its systemic approval of petrochemical facilities in predominantly Black neighborhoods amounts to civil rights, environmental justice and religious liberties violations.
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March 21, 2023
Tenant Alleging Sex Clause In Lease Says Trial Can't Wait
A tenant suing a former property manager she has accused of pressuring her to sign a document consenting to sexual acts asked a Nevada court not to bow to the man's latest request to postpone an April trial date.
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March 21, 2023
Fla. Bill Would Preempt Local Landlord-Tenant Rules
A bill pending in the Florida state Legislature would strip local governments of the ability to regulate tenant-landlord matters such as how potential renters are screened and caps on security deposits.
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March 21, 2023
Norfolk Southern Derailment, Spill, Fire Draw Another Suit
Norfolk Southern was hit with a putative class action Tuesday filed by Ohio residents who were evacuated and face health concerns after a train derailed and caused a chemical spill last month, the latest in a series of suits targeting the railway company.
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March 21, 2023
Real Estate Rumors: Kolter Urban, Terra, Ever River Realty
Kolter Urban has reportedly sold a Tampa penthouse for $6.1 million, Terra Group is said to have bid $500 million for a 570-unit residential property in South Florida and Ever River Realty has reportedly paid $51 million for a New York City industrial portfolio.
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March 21, 2023
Residential Operator Placemakr Tops $350M In Total Funding
Placemakr, a hospitality and multifamily residential operator, announced Tuesday it has raised $65 million in new funding, surpassing $350 million in total capital raised.
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March 21, 2023
DOE Seeks Delay To New Manufactured Housing Energy Rule
The U.S. Department of Energy has proposed delaying when manufactured housing makers must comply with new energy conservation standards by at least a few months, a move that comes after industry groups sued to block the rules from becoming effective at the end of May.
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March 21, 2023
NYC Property Manager Not Covered In Fee Suit, Judge Says
The insurer for a Manhattan property management company does not owe coverage for an underlying self-dealing lawsuit brought against the company by a group of LLCs, a New York federal judge ruled, finding the underlying allegations fall outside its professional liability policy's period.
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March 21, 2023
Duane Morris, Winstead Attys Jump To Greenberg Traurig
Greenberg Traurig LLP has added a former Duane Morris LLP partner in its Dallas office and a former Winstead PC counsel in its Austin, Texas, office, boosting its corporate and real estate teams, respectively, the firm announced Tuesday.

Commercial Banks Increased Share Of RE Debt In 2022 Q4
Banks increased their share of overall commercial and multifamily real estate debt to nearly 39% in the fourth quarter of 2022, according to a report released on Tuesday by the Mortgage Bankers Association.

NC Attorney General Sues Embattled Florida Real Estate Co.
North Carolina is the fifth state to sue Florida-based MV Realty, accusing the property brokerage this week of unfair and deceptive practices that lock homeowners into a 40-year high-interest loan under the guise that they'll receive real estate services when they decide to sell their home.

Miami-Dade Mayor Seeks Balance In Growth, Public Needs
From COVID-19 to housing affordability to climate change, Miami-Dade County Mayor Daniella Levine Cava has found herself confronting one crisis after another since winning election in November 2020. Here, Levine Cava discusses the many initiatives her administration has launched to address the housing crisis, her views of future development, and navigating the various levels of government.
Expert Analysis
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Establishing A Record Of Good Faith In Mediation
Viacom v. U.S. Specialty Insurance, and other recent cases, highlight the developing criteria for determining good faith participation in mediation, as well as several practical tips to establish such a record, says Richard Mason at MasonADR.
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Honchariw Case May Greatly Affect Default Loans In Calif.
Because a California state appeals court held in Honchariw v. FJM that default interest is unlawful when a lender assesses it against the full outstanding principal balance on a partially matured loan, lenders should prepare for borrowers to increasingly rely on the case when challenging default interest, say attorneys at Duane Morris.
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5 Takeaways From Recent CFPB, FTC Equal Credit Push
The Consumer Financial Protection Bureau and Federal Trade Commission overlap in regulating a wide range of banks and nonbanks, and the recent concerted effort from both agencies to address discrimination in financial services should remind organizations to reexamine their anti-discrimination and Equal Credit Opportunity Act compliance, say attorneys at Wiley.
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ABA Opinion Should Help Clarify Which Ethics Rules Apply
A recent American Bar Association opinion provides key guidance on interpreting ABA Model Rule 8.5's notoriously complex choice-of-law analysis — and should help lawyers authorized to practice in multiple jurisdictions determine which jurisdiction's ethics rules govern their conduct, say attorneys at HWG.
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Where Illinois And Federal Law Differ On Community Finance
As state regulators finalize the implementing regulations in the Illinois Community Reinvestment Act, attorneys at Vedder Price break down the law's material provisions, compare them to those in the federal counterpart and outline what banks in the state can expect.
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4 Ways To Reboot Your Firm's Stalled Diversity Program
Law firms that have failed to see real progress despite years of diversity initiatives can move forward by committing to tackle four often-taboo obstacles that hinder diversity, equity and inclusion efforts, says Steph Maher at Jaffe.
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DOJ's Google Sanctions Motion Shows Risks Of Auto-Deletion
The U.S. Department of Justice recently hit Google with a sanctions motion over its alleged failure to preserve relevant instant-messaging communications, a predicament that should be a wake-up call for counsel concerning the danger associated with automatic-deletion features and how it's been handled by the courts, say Oscar Shine and Emma Ashe at Selendy Gay.
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What To Expect From A Litigation Finance Industry Recession
There's little data on how litigation finance would fare in a recession, but a look at stakeholders' incentives suggests corporate demand for litigation finance would increase in a recessionary environment, while the number of funders could shrink, says Matthew Oxman at LexShares.
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Insureds Must Prep For Drought-Related Service Interruptions
Amid the ongoing U.S. water crisis, corporate policyholders must prepare for the emerging risk of service interruption property damage and time element loss, including through careful examination of their current and renewal property policies, says Micah Skidmore at Haynes Boone.
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How To Select The Right Arbitrator For A Construction Dispute
Excerpt from Practical Guidance
In construction disputes, selecting an arbitrator is a critical decision with many nuances to consider, as different types of potential panelists all come with their own experiences, views and possible biases, says Edward Gentilcore at Blank Rome.
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Enviro Exemption For NYC Housing Looks Legally Dubious
New York City Mayor Eric Adams' recently announced plan to exempt smaller residential developments from state environmental review may be a laudable attempt to expand the housing supply, but a review of applicable statutes suggests that the mayor lacks the authority to create this exemption, says Richard Leland at Akerman.
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What COVID Home Equity Repayment Plan Means For Lenders
Mortgage servicers need to note expanded borrower protections established by the Federal Housing Administration's recent COVID-19 home equity repayment plan, which balances the FHA's goal of protecting its insurance interests while helping borrowers hold onto their homes, say Jay Wright and Britney Crawford at Bradley.
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CFPB's Reading Of Lending Act May Affect Home Equity Plans
If the Fourth Circuit adopts the Consumer Financial Protection Bureau's arguments in Lyons v. PNC Bank, it would remove one tool issuers of home equity line of credit loans currently have to ensure repayment of outstanding debt on their customers' legacy HELOC accounts, say Ralph Mazzeo and Edward Southgate at Dechert.