Residential

  • December 16, 2022

    SF Homeless Rights Fight Heads To Settlement Talks

    San Francisco and an advocacy group will begin talks to settle the nonprofit's claims that the city is violating the constitutional rights of homeless people by tearing down encampments and taking their belongings, court filings show.

  • December 16, 2022

    Kingston Tenants Seek To Defend Novel NY Rent Cut

    A first-of-its-kind vote to reduce rents by 15% for certain tenants in Kingston, New York, was legally sound and should stand, according to local renters and advocacy groups seeking permission to enter a lawsuit challenging rent stabilization in the Hudson Valley city.

  • January 02, 2023

    The Biggest Residential Projects Of 2022

    Residential developers in 2022 continued to move forward on mega projects in Florida amid continued migration to that state, although developers are also continuing to press ahead with a pair of tall residential towers on Fifth Avenue in New York. Here is a rundown of the five tallest U.S. residential towers that broke ground in 2022.

  • December 16, 2022

    Surveys, Awards & More: Law360's 2023 Editorial Calendar

    Law360 publishes several award series throughout the year, including ones that highlight top-performing attorneys and practice groups. Here, find all you need to know about our awards and surveys, including due dates, FAQs, and the questions we'll ask so you can prepare ahead of time.

  • December 15, 2022

    Fla. Timeshare Co. Says Exit Biz 'Weaponized' Sanction Order

    Bluegreen Vacations Unlimited on Thursday accused a Timeshare Freedom Group attorney of weaponizing a sanctions order from a Florida federal court to not hand over a video that allegedly shows him admitting to clients that his services are a scam.

  • December 15, 2022

    San Francisco Planning Commission OKs 8-Year Housing Plan

    The San Francisco Planning Commission adopted its proposed eight-year housing plan during a meeting on Thursday as it prepares to bring more than 82,000 new housing units to the city by 2031.

  • December 15, 2022

    3 States Accuse Fla. Firm Of 40-Year Mortgage Scams

    A Florida company places mortgages on homeowners' properties without their knowledge, locking them into unfair terms for a period of up to 40 years, according to recent legal challenges filed by three state attorneys general.

  • December 15, 2022

    DC AG Pushes For Reform At Public Housing Agency

    The District of Columbia's Attorney General called for reform of the DC Housing Authority after his official Thursday report found that the authority lacks oversight, has been taken over by the mayor's political allies and has focused more on completing the mayor's development goals than providing affordable housing.

  • December 15, 2022

    New Details Emerge For Proposed East Bronx Rezoning In NY

    New York City planning staff are aiming to revamp zoning in the East Bronx to allow for higher residential density and retail space, according to new details unveiled during a meeting Thursday.

  • December 15, 2022

    Lennar Sees Rates Depress Home Orders, Prices In Q4

    Lennar reported rising interest rates pushed a drop in the value and number of new home orders in the fourth quarter, even as the homebuilder saw an increase in home deliveries that drove a stronger-than-expected increase in revenue and earnings per share.

  • December 15, 2022

    NYC Locals Sue To Block 'Spiritless' $221M Wagner Park Plan

    Lower Manhattan residents sued the Battery Park City Authority Wednesday in New York state court, seeking to block a $221 million climate resiliency project that they say will reduce lawn space and needlessly turn "this Picassoesque green oasis into a spiritless concrete-laden amphitheater."

  • December 15, 2022

    Mich. To Let More Local Gov'ts Designate Tax Break Zones

    Michigan will empower more local governments to designate certain areas as special zones where residential housing construction and rehabilitation projects can get property tax breaks under a bill signed by Democratic Gov. Gretchen Whitmer.

  • December 15, 2022

    Real Estate Rumors: WorkFusion, Sonny Astani, Vivvi

    WorkFusion is said to be leasing roughly 13,000 square feet in New York City, Sonny Astani reportedly hopes to get $32.5 million with the sale of a Malibu mansion and Vivvi is said to be leasing around 6,900 square feet in Manhattan.

  • December 15, 2022

    CORRECTED: Ala. Housing Authority To Pay Tenants $275K In Bias Suit

    An Alabama housing authority has agreed to pay $275,000 in damages to 23 current or former tenants who claim the authority steered residents to different communities based on their race, the Department of Justice said on Thursday.

  • December 15, 2022

    FHFA Finalizes New Affordable Housing Goals

    The Federal Housing Finance Agency has finalized its affordable multifamily housing goals for Freddie Mac and Fannie Mae in 2023 and 2024 with a final rule that creates new, percentage-based benchmark levels to measure those goals for the two mortgage lenders.

  • December 15, 2022

    Without Final Decision, 5th Circ. Can't Review Hurricane Case

    The Fifth Circuit told a group of rental property owners that it lacked jurisdiction to rule on their appeal of a Louisiana federal court decision concerning insurance claims for Hurricane Laura damages, because that decision was not final.

  • December 15, 2022

    Judge Mulls Sanctions For Atty In NC Real Estate Suit

    A North Carolina federal judge has threatened to bar an attorney from practicing in her court after citing a litany of ethical and professional missteps he allegedly made as he represented a real estate investment firm defending claims it rigged foreclosure sales.

  • December 15, 2022

    Rep. Takano Looks To Rein In Wall Street Landlords

    Wall Street corporate landlords are increasingly pricing first-time homebuyers out of the market, making it difficult for individuals to build equity through homeownership, U.S. Rep. Mark Takano, a California Democrat, told Law360 in a recent interview.

  • December 15, 2022

    Wholesale Mortgage Lender Seeks To Toss Class Action

    United Wholesale Mortgage urged a judge in Orlando federal court to dismiss a class action alleging that it illegally barred broker clients from working with two competitors.

  • December 14, 2022

    Insurers Say NOLA Property Owner Can't Dodge Arbitration

    A group of insurers urged a Louisiana federal judge to reject a New Orleans property owner's request to compel discovery in a dispute over hurricane damage coverage, arguing that discovery isn't allowed under the court's streamlined settlement program for hurricane damage claims and the insurance policy's arbitration clause.

  • December 14, 2022

    US, Bahamas Fight Over Who Gets Millions In FTX Property

    A $256 million real estate portfolio on the Bahamas island of New Providence is serving as fuel to the fire in an already tense initial round of court hearings relating to the downfall of cryptocurrency exchange FTX and its former CEO Sam Bankman-Fried.

  • December 14, 2022

    DOJ Settles Suit Over Calif. City's 'Crime-Free' Rental Program

    The U.S. Department of Justice has settled a housing discrimination suit over a California city's "crime-free" rental program that allegedly discriminated against Black and Hispanic people, the DOJ announced Wednesday.

  • December 14, 2022

    4th Circ. Won't Revive Travelers Breach Of Contract Suit

    The Fourth Circuit refused Wednesday to revive a North Carolina apartment complex owner's breach of contract suit against Travelers Casualty Insurance Co. of America, finding a lower court was correct to dismiss the case for having been brought too late.

  • December 14, 2022

    Academy Mortgage To Pay $38.5M In FCA Suit Over Bad Loans

    Academy Mortgage will pay $38.5 million to resolve a False Claims Act case filed in California federal court by a former underwriter-turned-whistleblower who alleged the mortgage lender for years was pushing through ineligible Federal Housing Administration loans to obtain government insurance money, the U.S. Department of Justice announced Wednesday.

  • December 14, 2022

    Property Management Co. Wants Out Of $2M Race Bias Suit

    A Texas property management company and its former agent have asked a Texas federal court to toss a $2 million discrimination suit against them concerning the agent's "extreme and outrageous" behavior when three plaintiffs sought to purchase condos, arguing that the plaintiffs' claim of intentional infliction of emotional distress is "gap-filler tort."

Expert Analysis

  • 2 Ways Insurance Regulation Will Change Under Biden Admin.

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    Under President Joe Biden's administration, federal oversight of the insurance industry is likely to increase in at least two ways: through regulating nonbank companies that own insurers, and through greater U.S. Department of Housing and Urban Development scrutiny of homeowners insurers, says Richard Liskov at Arent Fox.

  • What New Corporate Disclosures Mean For Real Estate

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    The recently passed Corporate Transparency Act's requirement that companies report their beneficial ownership and control parties will dramatically change the disclosure regime for all parties involved in real estate capital formation and investment, even as they await further clarification on the law's many ambiguities, say attorneys at Pillsbury.

  • Raising Capital For Real Estate Deals During The Pandemic

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    Real estate sponsors looking to invest in the current environment should consider the various advantages and risks of forming a commingled real estate investment fund versus raising capital on a deal-by-deal basis, says Matt Ertman at Allen Matkins.

  • Preparing The Securitization Market For Libor Transition

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    Matthew Cucolo at Factor analyzes the unique legal and structural challenges the securitization market faces as Libor's cessation approaches, including the task of amending transaction documents to introduce a new risk-free rate.

  • NY Ruling Offers Mortgage Lenders Foreclosure Alternative

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    CitiMortgage v. Ramirez, a recent decision from a New York appeals court, may give lenders precluded from foreclosing a mortgage the opportunity to seek enforcement of a promissory note against the same borrower, says Christopher Gorman at Abrams Fensterman.

  • Revival Of Earmarks Will Streamline Legislative Process

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    Congress' ban on earmarks through the last decade has contributed to uncertainty about when funding for each new fiscal year will be enacted, but recent developments suggest that legislators may soon reform or eliminate the ban, easing the gridlock, say Kathleen Hatfield and Paul Moorehead at Powers Pyles.

  • 10 State And Local Tax Predictions For 2021

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    Chuck Jones, Lori Stolly and Patrick Skeehan at Grant Thornton forecast the biggest state and local tax issues for 2021 as jurisdictions continue to deal with the economic fallout of the COVID-19 pandemic.

  • CFPB Order Offers Insight Into Pandemic Mortgage Servicing

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    The U.S. Consumer Financial Protection Bureau's recent consent order over Seterus' mishandling of loss mitigation applications during the pandemic highlights issues mortgage servicers should keep in mind as they work through the backlog of loans awaiting foreclosure once federal and state moratoria end, say Jeffrey Naimon and Joshua Kotin at Buckley.

  • As Superfund Turns 40, Courts Are Still Puzzling Over It

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    The Comprehensive Environmental Response, Compensation and Liability Act just turned 40, but a review of several Superfund cases from 2020 demonstrates that courts are still regularly confronted with novel questions and issues related to the law, says Peter Keays at Hangley Aronchick.

  • How To Reliably Value Income-Producing Real Estate

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    Amid the pandemic-fueled surge in tax appeals and loan workouts, using the income approach to calculate the present worth of a property's future income provides the most reliable indication of value and does not rely on subjective adjustments, say Mark Dunec at FTI Consulting and Anthony DellaPelle at McKirdy Riskin.

  • CFPB's Busy 2020 May Foretell Regulatory Uptick Ahead

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    The last year stood out for its marked resurgence in Consumer Financial Protection Bureau activity, suggesting 2021 will usher in even more vigorous enforcement, enhanced fair lending regulation, and renewed assaults on consumer arbitration and payday lending, says Richard Gottlieb at Manatt.

  • 2 Cases Highlight Superpriority Lien Risks For Lenders

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    Two recent decisions from a New York state court and a Nevada federal court reaffirm the importance of lenders paying off superpriority liens, which may extinguish their mortgages or deeds of trust if not swiftly addressed, say Michael O'Donnell and Michael Crowley at Riker Danzig.

  • Lenders' Role Will Be Key In NYC Green Building Loans

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    New York City's Climate Mobilization Act, which will soon restrict large buildings' carbon emissions, provides for a loan program to help owners finance energy-efficient improvements — but the program's success will depend on mortgage lenders' participation, says Jason Rozes at Dechert.