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West Coast Real Estate Update: May 23, 2017
  • Holland & Knight LLP
  • USA
  • May 23 2017

On May 10, 2017, the Los Angeles City Council unanimously approved an ordinance that would permit previously unapproved dwelling units


New York District Court Holds Plaintiff’s Failure To Properly File the Statutorily Required Notice of Pendency Warrants Denial of Motion For Default Judgment
  • Riker Danzig Scherer Hyland & Perretti LLP
  • USA
  • May 23 2017

The United States District Court, Northern District of New York, recently denied Plaintiff’s motion for default judgment and for judgment of


New Wave of Lehman Litigation Appears to Be Imminent
  • Bilzin Sumberg Baena Price & Axelrod LLP
  • USA
  • May 23 2017

Thousands of mortgage lenders across the country either recently received, or will soon be receiving, this document from Lehman Brothers Holdings, Inc


SCOTUS Holds Cities Have Standing Under FHA for ‘Subprime Nuisance’ Claims
  • Maurice Wutscher LLP
  • USA
  • May 22 2017

The Supreme Court of the United States recently held that a city qualifies as an “aggrieved person” under the federal Fair Housing Act, 42 U.S.C


What is a “High Volatility Commercial Real Estate” Loan, and How Does it Affect Your Ability to Lend?
  • Vorys Sater Seymour and Pease LLP
  • USA
  • May 22 2017

More and more, bankers are becoming familiar with the term "High Volatility Commercial Real Estate," or HVCRE for short. These bankers may sense that


FHFA Director Testifies Before Senate Banking Committee, Provides Overview of Housing Finance System and Prospects for Reform
  • Buckley Sandler LLP
  • USA
  • May 19 2017

On May 11, the Senate Banking Committee held a hearing at which FHFA Director Mel Watt fielded questions from lawmakers about the conservatorships of


Massachusetts Regulator Offers Interpretation of Mortgage Loan Originator Exclusivity Requirement
  • Buckley Sandler LLP
  • USA
  • May 19 2017

On May 10, the Division of Banks of the Massachusetts Office of Consumer Affairs and Business Regulations (Division) issued a letter determining that


DOJ Enters $89 Million Settlement with Texas-Based Bank in False Claims Act Matter
  • Buckley Sandler LLP
  • USA
  • May 19 2017

On May 16, the U.S. Department of Justice (DOJ) announced that a Texas-based bank (Bank) agreed to settle the DOJ’s allegations that it violated the


JVs For Partial NYC Tower Stakes Pose Control, Tax Puzzles
  • Greenberg Traurig LLP
  • Israel, USA
  • May 18 2017

The opportunity to acquire a 49 percent stake in New York commercial real estate is particularly suited to Israeli insurance companies and pension


MD Ala. Holds Servicer Did Not Violate Discharge By Sending Periodic Statements, NOI, Delinquency Notices, Hazard Insurance Notices
  • Maurice Wutscher LLP
  • USA
  • May 18 2017

The U.S. Bankruptcy Court for the Middle District of Alabama recently held that a mortgage servicer did not violate the discharge injunction in 11 U.S