Residential

Expert Analysis

• CFPB's New Foreclosure Limits Will Be Tough On Servicers

  

  While the Consumer Financial Protection Bureau's new Regulation X rules are touted as paving the way for a smooth transition as federal foreclosure moratoriums end this month, implementing the changes puts a heavy burden on loan servicers with only weeks to ensure compliance by the Aug. 31 deadline, say Allison Schoenthal and Matthew Sheldon at Goodwin.

• A Confusing Split Over 'Reasonable Consumer' In Fla. Courts

  

  Courts are divided over what counts as a reasonable consumer regarding determining liability under the Florida Deceptive and Unfair Trade Practices Act — including whether it is a judge or jury who makes that call — and with ample case law for either side of the issue, the only thing certain is that lawyers and clients will remain frustrated on the issue, say Aaron Weiss and James Czodli at Carlton Fields.

• Justices' FHFA Ruling Is Small Step In A Dangerous Direction

  

  The U.S. Supreme Court's ruling this week in Collins — stripping the Federal Housing Finance Agency director of removal protections — fails to consider the dangerous possibility that a president with complete control over the executive branch could dictate policies undermining the rule of law, and democracy itself, says David Driesen at Syracuse University.

• Challenges Facing California's Proposed Coastal Property Law

  

  A proposed California law that would allow cities to buy coastal properties and rent them back to homeowners is a conceptually sound course of action to prepare for rising sea levels, but the planned voluntary acquisition program may encounter some obstacles, say Bradford Kuhn and Raven McGuane at Nossaman.

• How COVID Could Worsen The US Construction Defect Crisis

  

  The COVID-19 pandemic has created market conditions that may aggravate the decadeslong construction defect crisis in the American housing market due to supply chain disruptions, skilled labor shortages and time crunches, say attorneys at Ball Janik.

• NY Courts Should Protect Housing Rights Of All Tenants

  

  New York courts should adopt a construction of the Housing Stability and Tenant Protection Act that expands on the rights of tenants without a traditional landlord-tenant relationship, in order to not only promote justice, but also adhere to the law as written, say law student Giannina Crosby, and professors Sateesh Nori and Julia McNally, at NYU Law.

• Collaborative Contracting Can Help Combat Bias In AI

  

  To mitigate bias in artificial intelligence technology amid pending EU and U.S. regulations, contracting companies should consider each party's role in controlling for bias, rather than applying binary liability allocations, say Boris Segalis and Joshua Fattal at Goodwin and independent attorney Neal Dittersdorf.

• What EPA's Environmental Justice Push Means For Cos.

  

  The U.S. Environmental Protection Agency's increased focus on environmental justice, which will give historically disadvantaged communities more influence over federal environmental policy, means that regulated companies should stay closely engaged with agency policymaking, say attorneys at King & Spalding.

• Biden Admin.'s Climate Strategy Should Include Insurance Innovations

  

  To successfully meet the Biden administration's climate-related goals, the federal government must fill gaps in state regulation of environmental insurance, and help create an insurance framework that incentivizes and facilitates carbon impact reduction in four key areas, say Michael Hill and Paul Tetenbaum at Blue Dot Climate Insurance.

• FDCPA Ruling Has Privacy Implications For Financial Services

  

  In Hunstein v. Preferred Collection, the Eleventh Circuit’s recent decision to allow claims against a debt collector who shared customer information with a vendor is concerning for financial services companies in its potential to broaden the Fair Debt Collection Practices Act and other consumer protection laws to include privacy rights, say attorneys at Holland & Knight.

• Laws Favor NYC Tenants' Discovery In Rent Overcharge Suits

  Excerpt from Practical Guidance

  

  Although a New York state court's decision in Regina Metro v. New York State Division of Housing and Community Renewal last year curtails certain tenant rights under the Housing Stability and Tenant Protection Act, subsequent cases have shown the law still favors broad discovery for tenants in rent overcharge cases, say Andrew Darcy and Brian Sullivan at Mobilization For Justice.

• Key Considerations For Build-To-Rent Developers

  

  As real estate developers and investors flock to the build-to-rent asset class, they should pay attention to some key issues, such as potential conflicts with local land development codes, says Jim McNeil at Akerman.

• La. Tax Talk: Legislature Takes On Tax Reform

  

  Louisiana taxpayers may see some needed tax improvements if the Legislature enacts major proposed reforms, like the long-overdue centralization of state and local sales and use tax collection, elimination of the antiquated corporation franchise tax, and reduction of income tax rates, say attorneys at Kean Miller.