Legal News

HUD recently published Mortgagee Letter 2020-36 (ML 2020-36), which updates Federal Housing Administration (FHA) New Construction financing requirements. The updates include, among others: The guidance provided by ML 2020-36 may be used immediately for existing cases but is mandatory for FHA case numbers assigned on or after January 4, 2021....By: Weiner Brodsky Kider PC

Freddie Mac and Fannie Mae recently announced, in response to the COVID-19 crisis, a new adverse market refinance fee to be imposed on certain refinance mortgages.  Initially, the fee was effective for refinance mortgages with settlement dates on or after September 1, 2020.  However, on August 25, 2020, the Federal Housing Finance Agency (FHFA) directed Freddie Mac and Fannie Mae to delay the implementation date until December 1, 2020.......By: Weiner Brodsky Kider PC

On April 27, 2020, and as part of its response to the COVID-19 pandemic, the Bureau issued a statement concerning supervisory and enforcement practices against land developers over delays in satisfying certain filing requirements under the Interstate...By: Weiner Brodsky Kider PC

The National Labor Relations Board recently released a Decision and Order finding that a financial services company’s mandatory arbitration agreement that restricted prospective employees’ rights under the National Labor Relations Act (NLRA)...By: Weiner Brodsky Kider PC

HUD issued a proposed rule to amend its Fair Housing Act design and construction regulations to incorporate the following as safe harbors: (i) the 2009 edition of the International Code Council Accessible and Usable Building and Facilities (ICC...By: Weiner Brodsky Kider PC

On December 10, 2019, the FTC and CFPB hosted a public workshop on issues affecting the accuracy of both traditional credit reports and employment and tenant background screening reports.  In conjunction with the workshop, the agencies sought...By: Weiner Brodsky Kider PC

The CFPB recently released two guides addressing the disclosures required for construction-only and construction-to-permanent loans under the TILA-RESPA Integrated Disclosure (TRID) Rule.  The Combined Guide and the Separate Guide review how to...By: Weiner Brodsky Kider PC

The CFPB recently settled with an employment background screening company to resolve allegations that the company violated the FCRA.  Among other allegations, the complaint asserts that the company......By: Weiner Brodsky Kider PC

California has enacted several new housing-related laws this fall, including laws on residential zoning, reducing permitting times and costs, placing limits on local government’s ability to restrict residential construction, rent control, and tenant...By: Weiner Brodsky Kider PC

A judge in the U.S. District Court for the Central District of California recently granted a defendant’s motion to decertify a class of plaintiffs for failing to meet the Article III standing requirements. The underlying lawsuit involves alleged...By: Weiner Brodsky Kider PC