Residential

  • March 26, 2024

    Rosenberg & Estis Guides $477M NYCHA Renovation Deal

    Rosenberg & Estis PC represented a developer for its more than $477 million renovation contract for the New York City Housing Authority's Saint Nicholas Houses in Harlem, the firm told Law360 on Tuesday.

  • March 26, 2024

    Ohio Justices Cool To Curbing Board's Tax Appeal Rights

    Two Ohio Supreme Court justices sounded skeptical Tuesday of an apartment complex's argument that a law barring political subdivisions from appealing certain valuation rulings applied to complaints that were pending when the restriction took effect.

  • March 26, 2024

    Brookfield Sets Terms For Bay Area's Biggest Housing Plan

    The San Francisco Bay Area's biggest proposed housing development took a step forward as Brookfield Properties and city officials struck a deal on the framework of a plan to develop a new neighborhood in Concord, California, over a 40-year period at the site of a former U.S. Navy base.

  • March 26, 2024

    Deal Holdout HomeServices Can't Undo Sellers' Class Cert.

    A Missouri federal judge refused Tuesday to grant class decertification sought by HomeServices of America, the lone holdout still fighting a jury verdict that pushed the National Association of Realtors into a settlement overhauling rules that have effectively restricted how brokers buy and sell homes and how they're paid.

  • March 26, 2024

    NC Justices Find BofA Mortgage Fraud Suit Filed Too Late

    The North Carolina Supreme Court has ruled that homeowners accusing Bank of America NA of fraud in a mortgage modification program filed their claims too late, finding they knew or should have known about the alleged fraud when their homes were foreclosed upon — four to seven years before they sued.

  • March 26, 2024

    Hurdles Ahead For Calif. Mental Health Bond After Narrow Win

    An ambitious ballot measure meant to address California's homelessness crisis may open up new business opportunities for healthcare providers, ease overcrowding in emergency rooms and inspire other states to follow suit. But it will likely bring less-welcome results as well.

  • March 25, 2024

    LoanDepot Settles Appraisal Bias Suit After Scholar's Death

    Mortgage company loanDepot has agreed to make policy changes and pay an undisclosed amount to resolve a Black couple's lawsuit claiming their Baltimore home was undervalued because of their race, just a couple of weeks after plaintiff Shani Mott, a scholar at Johns Hopkins University, died of cancer.

  • March 25, 2024

    Conn. Justice Chides Legislature In Landlord Lien Case

    Bemoaning what he perceived as an unclear statute and its unilluminating legislative history, Connecticut Supreme Court Justice Steven D. Ecker on Monday lamented having to make a significant policy decision about whether a city or a landlord should be financially liable for tenants displaced after fire damaged a large apartment.

  • March 25, 2024

    Full 10th Circ. Stands By Revival Of Valero Pipeline Leak Suit

    The full Tenth Circuit refused to budge from a panel's February decision that partly revived an Oklahoma cattle ranch's lawsuit seeking to hold Valero Energy Corp. liable for a pipeline leak that allegedly contaminated the ranch property.

  • March 25, 2024

    HUD Says Not Enough Housing For Trafficking Survivors

    The housing needs of human trafficking survivors facing homelessness or home instability aren't being met by housing programs across the country because many of them usually aren't "scaled to meet the need," according to a U.S. Department of Housing and Urban Development report.

  • March 25, 2024

    3rd Circ. Says NJ City Can't Stop Sale Of Failed Project's Sites

    The Third Circuit tossed a New Jersey city's challenge of a bankruptcy court ruling that allowed the two local properties of a failed affordable housing project to be sold to a third party, according to an unpublished opinion Monday.

  • March 25, 2024

    NJ Law Paves An Aggressive Affordable-Housing Path

    New Jersey Gov. Phil Murphy signed a bill that will overhaul the state's affordable housing framework, signaling state priorities with an aggressive approach that has already garnered pushback from municipalities.

  • March 25, 2024

    Jury Hands Mortgage Co. $73K Win In Trade Secrets Fight

    An Ohio federal jury has found that Revolution Mortgage owes just over $73,700 to competitor Equity Resources in a case where Equity accused its rival of misappropriation of trade secrets.

  • March 25, 2024

    'Infested Slum' Suit Warrants Class Cert., Conn. Justices Told

    Former tenants of a Hartford apartment complex are urging the Connecticut Supreme Court to let them pursue class claims that the complex turned into a "mold and cockroach infested slum," arguing in a hearing Monday that a lower court focused too heavily on the differences between the conditions of each unit.

  • March 25, 2024

    DeSantis OKs Bill Easing Teardown Of Old Coastal Buildings

    Florida Gov. Ron DeSantis has signed a bill limiting local control over the takedown and replacement of coastline structures that are out of step with building codes, after changes to the measure exempted some historic waterfront districts.

  • March 25, 2024

    High Court Won't Weigh In On ND Mineral Rights Takings Suit

    The U.S. Supreme Court on Monday declined to wade into a fight over oil and gas mineral rights underneath a North Dakota lake, rejecting former rights owners' argument that states' sovereign immunity does not protect them from takings claims in federal court.

  • March 25, 2024

    Law360 2024 Real Estate Authority Editorial Board

    Law360 is pleased to announce the formation of its 2024 Real Estate Authority Editorial Board, which includes leading industry experts, to provide feedback and shape coverage goals.

  • March 22, 2024

    OCC Fines Sterling Bank's Ex-COO $150K For Lax Oversight

    The former president of Michigan-based Sterling Bancorp Inc. has been ordered to pay $150,000 by the Office of the Comptroller of the Currency for allegedly failing to properly oversee the bank's Advantage Loan Program, which presented "high risks for fraud, money laundering, and lending misconduct."

  • March 22, 2024

    Feds Delay Community Lending Assessment Change To 2026

    Federal banking regulators have pushed back a looming implementation date for part of their revamped community lending rules, delaying the roll-out of certain changes in a move that is raising fresh criticism of the rulemaking amid an industry-backed legal challenge.  

  • March 22, 2024

    US Bank Ends $3.5B RMBS Trusts Suits Against BofA, Others

    U.S. Bank on Friday notified a New York federal judge it permanently discontinued two lawsuits against First Franklin Financial, Merrill Lynch Mortgage and Bank of America relating to substandard loans in residential mortgage-backed securities trusts worth $3.5 billion, two years after the parties reached a conditional settlement.

  • March 22, 2024

    Real Estate Co. Says Ch. 7 Trustee Ginned Up Conn. AG Probe

    A company that buys houses from financially distressed individuals and rents the homes back to their former owners filed a scathing adversary proceeding against a Chapter 7 trustee's avoidance action, claiming the trustee ginned up a "baseless" state government probe and is harming several estates she claims to be protecting.

  • March 22, 2024

    Airbnb Sued Over Conn. Woman's Fatal Burns In Jamaica

    Airbnb has taken to Connecticut federal court to defend against claims that it is financially responsible for an explosion at a Jamaican rental property that caused first-degree burns over 56% of a renter's body, eventually leading to the woman's death in the U.S. two months later.

  • March 22, 2024

    5th Circ. Lifts SEC Climate Rule Stay After 8th Circ. Lottery Win

    The Fifth Circuit on Friday lifted a temporary block on the implementation of the U.S. Securities and Exchange Commission's new emissions reporting requirements, following the selection of the Eighth Circuit as the venue for consolidated proceedings of the various suits about the agency's controversial rules.

  • March 22, 2024

    Home Sellers Hope $58M Compass Deal Helps Spur Others

    Compass Inc. announced Friday that it would pay home sellers $57.5 million in the first settlement since the National Association of Realtors reached its own deal this month to pay $418 million and overhaul rules that have effectively restricted how brokers buy and sell homes and how they're paid.

  • March 22, 2024

    Crow Buys Portfolio Of Nearly 10K Manufactured Homesites

    Crow Holdings has closed a portfolio deal for 46 manufactured housing properties containing 9,838 homesites in Indiana, Ohio, Florida, Missouri, Illinois and Montana, the real estate investment and development firm announced.

Expert Analysis

  • 4 Business-Building Strategies For Introvert Attorneys

    Excerpt from Practical Guidance
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    Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.

  • New AI Lending Tech Could Exacerbate Old Bias Risks

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    As credit and mortgage lending businesses increasingly utilize artificial intelligence technology to help make decisions, they must be aware of the legal risks that may arise under familiar anti-discrimination laws, say Kali Bracey and Grace Wallack at Jenner & Block.

  • Caregiver Flexibility Is Crucial For Atty Engagement, Retention

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    As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.

  • AI Road Ahead Is Promising For Cautious Fintechs

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    Financial institutions should understand the conceptions and misconceptions about artificial intelligence likely to influence regulators, and proactively study potential adverse impacts and establish use case strategies and other guardrails for deploying AI, say attorneys at Jones Day.

  • In-Office Engagement Is Essential To Associate Development

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    As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Why All Eyes Are On Florida's Affordable Housing Reform

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    Florida's Live Local Act, which took effect last month, promotes much-needed affordable housing developments with a mix of zoning preemption provisions and tax benefits that may attract interest from developers across the nation, say attorneys at Nelson Mullins.

  • What Came Of Texas Legislature's Long-Promised Tax Relief

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    Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.

  • Looking Behind The Curtain Of Residential Transition Loans

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    As residential transition loans and securitizations of such loans grow increasingly popular, real estate stakeholders should take care to understand both the unique features and potential challenges offered by this novel asset class, say attorneys at Mayer Brown.

  • Hedging Variable Interest Rates In A Volatile Market

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    Variable rate loans, which were an advantageous borrowing method prior to the recent Federal Reserve rate hikes and subsequent volatility, are now the difference between borrowers remaining current on their obligations and defaulting due to the sharply increasing debt service requirements of their loans, say attorneys at Cassin & Cassin.

  • Mallory Gives Plaintiffs A Better Shot At Justice

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    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • CRA Plays Role In DOJ Fight Against Redlining

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    The U.S. Department of Justice’s recent consent order with ESSA Bank & Trust is a reminder that although the Community Reinvestment Act lacks a civil enforcement provision, financial institutions' CRA compliance efforts may have ramifications under various anti-discrimination statutes, say Collin Grier and Levi Swank at Goodwin.

  • Colo. Eviction Case Could Transform Tenant Rights

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    The Colorado Supreme Court recently granted certiorari in a case that could open the door for tenants to assert allegations of discrimination and retaliation during eviction proceedings, and dramatically prolong the state's process, says Jacob Hollars at Spencer Fane.