Residential

  • May 15, 2024

    Mortgage Co.'s $2.4M Data Breach Settlement Gets Initial OK

    A Connecticut federal judge gave her initial sign-off to a $2.4 million settlement between mortgage firm Planet Home Lending LLC and a consolidated class of customers whose personal data, including their Social Security numbers, was exposed in a cyberattack.

  • May 14, 2024

    RealPage, Landlords Look To Trim Ariz. Price-Fixing Case

    Rental algorithm company RealPage and several landlords have urged an Arizona state court to trim fraud claims from the attorney general's case accusing them of using software to illegally raise rents for hundreds of thousands of renters, and they also asked to limit the time frame for enforcers' antitrust claims.

  • May 14, 2024

    Keller Williams Freed From Fla. 'Shotgun' Class Action, For Now

    A Florida federal judge on Tuesday released Keller Williams Realty from a proposed racketeering class action, agreeing with a magistrate judge that the suit was a "shotgun pleading" claiming the broker sought to generate commissions by harassing homeowners into selling their properties.

  • May 14, 2024

    Colo. Lawmakers OK Sales Tax Exemption For Modular Homes

    New modular homes would be exempt from Colorado's sales and use taxes, saving taxpayers about $1 million annually, under legislation passed by lawmakers and heading to Gov. Jared Polis.

  • May 14, 2024

    Tenn. Judge Wants Default Win For Bank But No Atty Fees

    A Tennessee magistrate judge recommended partially granting a default judgment win to a bank suing a Florida-based developer accused of defaulting on about $15.3 million in loans, but also suggested denying the bank attorney fees.

  • May 14, 2024

    NJ Tax Court Nixes Condo Owners' Exemption Claims

    A New Jersey condominium building is not eligible for a five-year property tax exemption because the developer and owners did not enter into a tax agreement with the city prior to the units being built, the state Tax Court ruled.

  • May 14, 2024

    Activist Investor Pressures Proptech Co. To Privatize Or Sell

    Land & Buildings Investment Management urged SmartRent Inc. to consider privatizing or selling to a bigger business, arguing Tuesday that the property technology company is delivering lackluster results, despite the platform's popularity.

  • May 14, 2024

    Texas City, Homeowners Get Early Win In Land Dispute

    A federal judge has sided with a Texas city, a property owners association and others against a manufactured housing company's suit accusing the defendants of wrongfully impeding its development of nearly 300 lots.

  • May 13, 2024

    NYC Nonprofits Want Landlords' Housing Courts Suit Tossed

    New York City tenant and immigrant rights nonprofits urged a New York state court to toss a suit from landlords who claim the state's court system handles eviction proceedings so slowly and inefficiently that they're deprived of their property rights.

  • May 13, 2024

    REIT Says Vegas Hotels Win Backs Tossing DC RealPage Suit

    A real estate investment trust seeking out of the D.C. attorney general's rental algorithm price-fixing suit pointed the superior court judge to last week's decision tossing what it said are extremely similar allegations against a group of Las Vegas hotels.

  • May 13, 2024

    Peer Street Ch. 11 Ruling Hinges On Pro Se Creditor's Protest

    A Delaware bankruptcy judge told real estate investment platform Peer Street Inc. on Monday that she would make a final ruling on confirmation of the company's Chapter 11 plan in the coming days, but only after finishing a review of a pro se creditor's complaints about the otherwise consensual wind-down deal.

  • May 13, 2024

    NJ Justices Hold Contract Supersedes Real Estate Wage Law

    The contract a real estate agent signed deeming him an independent contractor is enough to resolve his claims of improper wage deductions, the New Jersey Supreme Court ruled Monday, saying that a state three-prong test doesn't need to apply.

  • May 13, 2024

    JLL, Multifamily Developer Drop Row Over Procurement Fee

    Jones Lang LaSalle Americas Inc. permanently dropped its Florida federal court suit accusing a multifamily developer of owing it a procurement fee after JLL secured $24 million in financing for a Sunshine State apartment complex.

  • May 13, 2024

    Mass. Tax Board Rejects Plea To Cut Home Valuation

    A Massachusetts homeowner's argument that his property was overvalued because its assessment increased by a higher percentage than those of neighboring properties was rejected by the state's tax appeals board in a decision released Monday.

  • May 13, 2024

    NY Bill Seeks Property Tax Break For Upgrades To Cut Carbon

    New York would create a property tax exemption for capital improvements made to residential property for the purpose of reducing carbon emissions under a bill introduced in the state Assembly.

  • May 13, 2024

    NJ Firm's Former Exec Says Home Purchase Not Tied To Theft

    A previous McElroy Deutsch executive is fighting a claim on her house after her husband, another former firm leader, copped to stealing $1.5 million, arguing his theft began after January 2017 and therefore the firm could not show funds were used to purchase their New Jersey home in 2016.

  • May 13, 2024

    Justices Deny Review Bid From Convicted REIT Execs

    The U.S. Supreme Court on Monday declined to hear a bid by four incarcerated executives with Texas real estate investment trust United Development Funding to overturn a Fifth Circuit ruling upholding their convictions in a Ponzi scheme.

  • May 13, 2024

    Ex-Pa. City Housing Head Gets 3 Years In Prison For Fraud

    The former head of an economically distressed Pennsylvania city's public housing authority was sentenced Monday to over three years in prison for bilking the agency out of $545,000 through a yearslong scheme of submitting inflated contracting bills for housing repairs to line his own pockets.

  • May 13, 2024

    High Court Won't Take Up Wyo. Wildfire Suit

    The Supreme Court on Monday declined to review a suit by survivors of the 2018 Roosevelt wildfire in Wyoming against the U.S. Forest Service over the government's decisions in fighting the fires.

  • May 10, 2024

    Colo. Investor Says Fox Rothschild Atty's Missteps Cost $3M

    One of three investors behind a Colorado development has filed suit against Fox Rothschild LLP and an attorney in state court, alleging that the attorney's failures led the entity to lose upwards of $3 million when a relationship with the fellow investors soured.

  • May 10, 2024

    Solar Co. Stockholders Claim Execs, Board Caused Losses

    SunPower's current and former leadership was accused in a derivative shareholder suit of sending the residential solar power company into a financial tailspin by revising financial statements multiple times and causing the stock value to drop.

  • May 10, 2024

    3 Takeaways From The Real Deal's New York City Forum

    Industry professionals at The Real Deal's New York City Real Estate Forum this year aired a lot of grievances about housing and development policies in the Big Apple and Empire State, though panels also touched on a major problem facing lenders. 

  • May 10, 2024

    Ore. Court Drops Tax Value Of Rural Property

    The Oregon Tax Court lowered the real market valuation of a rural property with outbuildings used for storage of a car collection, relying partially on the owner's cost approach to the value.

  • May 10, 2024

    Nationstar Mortgage Wants To Escape 'Junk Fee' Suit

    Nationstar Mortgage LLC has asked a Washington federal judge to toss a proposed class action alleging it illegally charged homeowners a "junk fee" for written payoff quotes, saying the suit's claims fail because expedited payoff fees are not unlawful and do not breach the terms of the relevant loan agreements.

  • May 09, 2024

    Industry Orgs Urge DC Circ. To Ax HUD Disparate Impact Rule

    Several industry associations are backing a D.C. Circuit challenge to a U.S. Department of Housing and Urban Development rule governing disparate impact claims under the Fair Housing Act, contending the federal agency exceeded its powers and ignored Supreme Court precedent in issuing the regulation.

Expert Analysis

  • Time For Law Schools To Rethink Unsung Role Of Adjuncts

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    As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.

  • Ch. 13 Ruling Issues Warning To Mortgage Servicers

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    The Ninth Circuit Bankruptcy Appellate Panel’s recent ruling in Orlansky, which held that the mortgage servicer violated the automatic stay in its post-petition communication to debtors, suggests that circuit bankruptcy courts may more closely scrutinize how certain fees are presented in monthly statements, say Justin Paget and Jennifer Wuebker at Hunton.

  • Using Synthetic Securitization In Residential Mortgage Loans

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    In light of a recent Federal Reserve report emphasizing the importance of maintaining sufficient capital positions, banking organizations should consider using synthetic securitization to help mitigate capital charge associated with residential mortgage loan portfolios, say attorneys at Mayer Brown.

  • Tips For In-House Legal Leaders In A Challenging Economy

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    Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.

  • How Cities Can Tackle Post-Pandemic Budgeting Dilemmas

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    Due to increasing office vacancies around the country, cities may consider politically unpopular actions to avoid bankruptcy, but they could also look to the capital markets to ride out the current real estate crisis and achieve debt service savings to help balance their budgets, say attorneys at Cadwalader.

  • What Associates Need To Know Before Switching Law Firms

    Excerpt from Practical Guidance
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    The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.

  • FHFA Plans Forecast The Year Ahead In Affordable Housing

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    This year attorneys in the affordable housing sector can expect to see developers utilizing the financing tools included in Freddie Mac and Fannie Mae's updated equitable housing finance plans, including various sponsor-elected programs and Freddie's forward commitment initiative, say Evan Blau and Beth Budnick at Cassin & Cassin.

  • A Case For Sharing Mediation Statements With Counterparties

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    In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.

  • How To Determine Best Format For Annual Building Meetings

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    As hundreds of New York City co-ops and condominiums conduct their annual meetings over the next few weeks, they should keep both legal and practical considerations in mind when deciding between virtual and in-person formats, says Robert Braverman at Braverman Greenspun.

  • EB-5 Reform Continues To Weigh Heavily On Participants

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    Recent U.S. Citizenship and Immigration Services guidance helps clarify aspects of the 2022 EB-5 Reform and Integrity Act, which increased oversight of EB-5 regional centers, but does not end the industry's continuing state of uncertainty, says Robert Divine at Baker Donelson.

  • Colo. Bankruptcy Ruling Clarifies Debt Collection Rules

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    The Colorado Supreme Court’s recent ruling in U.S. Bank v. Silvernagel provides necessary clarification on the state's debt collection statute of limitations commencement rules and gives lenders breathing room to pursue foreclosure after their borrowers receive a bankruptcy discharge, say Erin Edwards and Justin Balser at Troutman Pepper.

  • Preparing For Legal Scrutiny Of Data Retention Policies

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    Two recent cases involving Google and Meta should serve as a call to action for companies to ensure their data retention policies are updated and properly implemented to the degree of being able to withstand judicial scrutiny, especially as more data is generated by emerging technologies, say Jack Kallus and Labeed Choudhry at Kaufman Dolowich.

  • Echoes Of '80s Thrift Crisis Are Present In Today's Bank Woes

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    The current distress in the banking industry bears an uncanny resemblance to the thrift industry crisis of the 1980s, and while that collapse was a worst-case scenario, it provides lessons for understanding the fundamental economic forces at work today, says Alan Frankel at Coherent Economics.