LexisNexis® Legal Newsroom
    GAO Rips Regulators Over Botched Foreclosure Review

    The U.S. Government Accountability Office blamed federal regulators and private consultants for their lousy performance reviewing more than 4 million residential foreclosures in a bungled process that delayed relief to homeowners and ultimately was scrapped...

    Lenders Face Hefty Fines In CFPB Mortgage Insurance Probe

    The Consumer Financial Protection Bureau’s $15.4 million settlement Thursday with four mortgage insurers is just the first to come out of a probe into an alleged scheme to pay kickbacks to banks in exchange for business, and lenders caught up in...

    Fannie, Freddie Profits Stoke GSE Debate

    The hulking profits Fannie Mae and Freddie Mac reported for 2012 have been widely lauded as signs of a recovering housing market, and they've also reignited the debate about whether the government should continue to sponsor the entities. ...read more

    Ex-Pa. House Candidate Suspended From Bar For 30 Months

    Philadelphia real estate attorney Damon Roberts, a former candidate for both City Council and the state House, was last week suspended from practicing law in Pennsylvania for 30 months over misdeeds including neglect of his clients’ cases, practicing...

    Comcast Kills Class Cert. In Overcharge Case, Title Co. Says

    A First American Title Insurance Co. subsidiary urged a Washington federal judge Thursday to decertify three conditional classes whose members were allegedly overcharged for real estate transaction fees, saying the classes can't stand in light of...

    Miami Beach Panel Approves Large Mixed-Use Project

    The Miami Beach Planning Board on Wednesday unanimously approved developer Crescent Heights' mixed-use residential-retail project in South Beach with some conditions regarding noise and the resolution of outstanding code violations. ...read more

    Hogan Lovells Hit With Malpractice Suit Over $36M Verdict

    Two Maryland landowners launched a legal malpractice suit against Hogan Lovells US LLP in state court Monday, claiming the firm's predecessor Hogan & Hartson LLP gave bad advice following a failed development venture that led to a $36 million...

    Morgans Hotel Director Sues To Block Yucaipa Deal

    A Morgans Hotel Group Co. director launched a derivative suit Monday seeking to block a recapitalization plan that would increase private equity firm Yucaipa Cos. LLC's stake in the hotel operator, claiming his fellow board members improperly rushed...

    David Lerner Loses Coverage For FINRA Fine, Class Actions

    An insurer on Friday beat David Lerner Associates Inc.'s attempt to win coverage for three class actions and a regulator's $14 million fine, successfully arguing to a New York federal judge that its policy excluded claims that the brokerage misled...

    Morgans Inks Deal With Yucaipa To Shed $230M In Debt

    Morgans Hotel Group Co. said Monday that it plans to sell its stakes in a Florida hotel and Las Vegas hotel management company to The Yucaipa Cos. LLC as part of a plan to shed $230 million in debt and free up cash for future projects. ...read more

    Louisiana Appeals Panel: Homeowners Not Liable For Staircase Collapse

    BATON ROUGE, La. - The First Circuit Louisiana Court of Appeal on March 27 affirmed summary judgment for homeowners named in a personal injury case involving the collapse of newly constructed stairs, ruling that the "plaintiffs failed to produce...

    How They Won It: Irell Unravels Nevada Robosigning Case

    Attorneys at Irell & Manella LLP secured the dismissal of a 306-count indictment against their client for an alleged role in a robosigning scheme at Lender Processing Service Inc., uncovering prosecutorial conflicts of interest and overcoming tragic...

    Fla. Senate Panel Approves Bill Amending LLC Statutes

    A bill that would update Florida's statutes on limited liability companies, which are particularly popular among real estate ventures, sailed through a state Senate panel Monday with no opposition. ...read more

    Ad Agency Interpublic Enters NYC Garment District

    Leading advertising agency Interpublic Group of Cos. Inc. has signed a lease for 86,000 square feet on the lower floors of 1400 Broadway in New York City, adding yet another corporate tenant to the increasingly corporate neighborhood, Interpublic spokesman...

    Mortgage Insurers Hit With $15.4M CFPB Kickback Fine

    The Consumer Financial Protection Bureau on Thursday slapped four of the nation's largest mortgage insurance firms with fines totaling more than $15 million over allegations that they paid kickbacks to lenders in order to boost their business as part...

    NY Pol Took Cash To Draft Bogus Legislation, Feds Say

    Democrat Eric A. Stevenson became the latest Empire State lawmaker to be charged with bribery Thursday as federal authorities accused the assemblyman of accepting envelopes full of cash from developers to help create a “local monopoly” for...

    Insurer Skirts Coverage For $20M Fremont Mortgage Loss

    A California federal judge on Wednesday freed Federal Insurance Co. from a $20 million suit brought by bankrupt wholesale lender Fremont Investment and Loan’s successor seeking to cover losses from a mortgage fraud scheme. ...read more

    Hines REIT Pays $197M For Equity Residential Mass. Property

    A real estate investment trust owned by global property investor Hines Interests LP has acquired an office complex in Newton, Mass., from Sam Zell's Equity Residential for $197.3 million, the REIT said in a regulatory filing Tuesday. ...read more

    Fla. Senate OKs Alternative Water Development Bill

    The Florida Senate on Thursday unanimously approved legislation that seeks to boost the development of alternative water supplies within the state by issuing approval permits that last up to 37 years. ...read more

    Morgans Hotel Delays Rights Issue As Activists Square Off

    Morgans Hotel Group Co. agreed Friday to delay a $100 million rights offering that its largest stockholder claims is a backdoor effort to build up friendly voting blocs and push through a recapitalization by Ronald Burkle's Yucaipa Cos. LLC. ...read...

    Miami Condo Board Sues Builders Over Luxury Tower Defects

    The condominium association of a luxury high-rise in downtown Miami sued the building's developer and general contractor Thursday in Florida state court, claiming they delivered a flawed finished product that failed to meet building codes. ...read...

    3 Practical Ways To Use The Internet During Trial

    A survey of local rules for courthouses with available Wi-Fi has shown that no courts expressly prohibit the use of Internet by lawyers to gain information about the venire. Interestingly, at least one appellate court has held that it was error not to...

    Boies Denies Ethics Breach In $350M Marriott Antitrust Case

    Boies Schiller & Flexner LLP on Thursday denied allegations that the firm ignored a conflict of interest while working a $350 million antitrust lawsuit that claims Marriott International Inc. secretly colluded to keep its flagship New York hotels...

    What Can Boards Learn From Morgan Keegan

    Long-awaited U.S. Securities and Exchange Commission guidance on valuation, if and when issued, may address the SEC’s views as to the specific role it expects fund boards to play in the valuation process. In the meantime, there are a number of lessons...

    Pipeline Co. Facing $50M Claims Sues Insurer Over Attys

    A pipeline manufacturer upset about Liberty Mutual Insurance Co.'s choice of attorneys to defend the company against $50 million in underlying construction and property damage claims lodged a breach of contract suit against the insurer in Illinois...