June 16, 2015
NYC’s 421-Abyss
New York City’s 421-a tax exemption has lapsed as of yesterday because of disagreements at the state level (NYS has a lot of control over NYC’s laws and policies, for those of you who don’t follow the topic closely). 421-a … Continue reading
June 16, 2015 in Regulation | Permalink | No Comments
June 15, 2015
Monday’s Adjudication Roundup
The CFPB increased PHH Corp.’s penalty to $109 million from $6.4 million on appeal, while upholding an administrative judge’s ruling that the firm was involved in a mortgage insurance kickback scheme. A class of PHH borrowers have been granted cert … Continue reading
June 15, 2015 in Regulation | Permalink | No Comments
June 12, 2015
Reiss on Big Kickback Penalty
Law360 quoted me in CFPB Ruling Adds New Front In Administrative Law Fight (behind a paywall). The story opens, Consumer Financial Protection Bureau Director Richard Cordray’s decision last week upholding an administrative ruling against PHH Mortgage Corp. and jacking up the firm’s … Continue reading
June 12, 2015 in Regulation | Permalink | No Comments
Friday’s Government Reports
Consumer Financial Protection Bureau (CFPB) recently released a report entitled A Closer Look a Reverse Mortgage Advertisements and Consumer Risks which discusses its findings regarding the failure of reverse mortgage ads to mention the considerable risks involved in reverse mortgage loans (while extolling … Continue reading
June 12, 2015 in Regulation | Permalink | No Comments
June 10, 2015
Reiss on EB-5 Green Card Reform
GlobeSt.com quoted me in Congress Moves to Revamp EB-5. It reads in part, Last week Senate Judiciary Committee Chairman Chuck Grassley and ranking member Senator Patrick Leahy introduced bipartisan legislation to reauthorize and reform the EB-5 Regional Center program. This did … Continue reading
June 10, 2015 in Regulation | Permalink | No Comments
June 9, 2015
Rapidly Rising Rents
The Community Service Society has released its Fast Analysis of the 2014 New York City Housing and Vacancy Survey which “analyzed just-released U.S. Census Bureau data from the 2014 version of its New York City Housing and Vacancy Survey, a survey of … Continue reading
June 9, 2015 in Regulation | Permalink | No Comments
Tuesday’s Regulatory & Legislative Round-Up
The Consumer Financial Protection Bureau issued a consumer advisory in the first regulatory action prompted by the results of its reverse mortgage report entitled A Closer Look at Reverse Mortgages. Advertisements often lead retirees to believe that reverse loan offers … Continue reading
June 9, 2015 in Regulation | Permalink | No Comments
