Residential

Expert Analysis

• What New Corporate Disclosures Mean For Real Estate

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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

  

  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.

• 2 Calif. Rulings Offer Lessons As Foreclosure Crisis Looms

  

  A pair of recent California state court decisions tied to homeowner protection laws foreshadow the kinds of litigation the mortgage industry may face if the pandemic leads to a wave of foreclosures, say Yakov Wiegmann and Matthew Lee at Riley Safer.