‘Points’ aren’t actionable under federal lending law
Home borrowers could not sue a lender for violating federal law by charging “points” in exchange for nothing in return, the 11th Circuit has ruled in affirming a dismissal. Section 8(b) of the Real...
View ArticleCondominium purchasers may revoke contracts
Purchasers of condominium units may be entitled to revoke their contracts under a federal law requiring “full disclosure” by real estate developers, the 2nd Circuit has ruled in reversing a dismissal....
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Legal malpractice suits on the rise, survey finds
Law firms are facing a surge in malpractice claims, with conflict of interest issues being the leading source of exposure to liability. Those are the highlights from “Lawyers’ Professional Liability...
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Justices to decide whether RESPA requires fee split
The U.S. Supreme Court will decide whether §8(b) of the Real Estate Settlement Procedures Act prohibits a real estate settlement services provider from charging an unearned fee only if the fee is...
View ArticleCONSUMER PROTECTION
Home borrowers suing Quicken Loans for violating the Real Estate Settlement Procedures Act were required to show that the lender split an allegedly unearned fee with another party. See “RESPA claims...
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RESPA claims required showing of fee split
Home borrowers suing Quicken Loans for violating the Real Estate Settlement Procedures Act were required to show that the lender split an allegedly unearned fee with another party, the U.S. Supreme...
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Real estate is riskiest practice area, ABA survey finds
Legal malpractice insurers for the first time are reporting a higher percentage of claims involving real estate than any other practice area, according to a new survey from the American Bar...
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New Year brings more uncertainty over estate tax
WASHINGTON – As the budgetary wrangling between the White House and Congress continues, the only thing that is clear is that an agreement on long-term estate tax reform is unlikely. That means federal...
View ArticleCondo purchase contract can’t be revoked
The buyers of a luxury condominium unit in New York City could not revoke their purchase agreement on the ground that their developer failed to comply with the disclosure requirements of federal law,...
View ArticleBenchmarks: Buyer stuck with ‘murder home’
In a reversal of course, a Pennsylvania court ruled last week that home sellers had no duty to disclose that their property was the scene of a grisly murder/suicide. “The fact that a murder once...
View ArticleLawyer loses license over real estate practices
A Richmond, Va. lawyer who had a high-volume real estate practice has surrendered his law license after the state bar found long-time lapses in bookkeeping and registration as a settlement agent. G....
View ArticleIowa attorneys suspended for house flipping scheme
The Iowa Supreme Court has suspended two attorneys who failed to fully disclose that they were behind the purchase of a home their client had foreclosed upon and put up for auction. “[George Qualley...
View ArticleFTC: Rental info providers may be subject to FCRA
WASHINGTON – Data brokers who provide online information to landlords about tenants’ rental histories may be subject to the requirements of the Fair Credit Reporting Act, the Federal Trade Commission...
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