Biden has proposed 'the boldest housing plan in a generation,' his economic advisor says
Amid an affordable housing shortage, record-high rent burdens and increasing homelessness, President Joe Biden used his election-year State of the Union address on March 7 to outline his proposals to make housing more accessible. The president said he wants to spur the construction and renovation of two million homes, facilitate home purchases for first-time buyers and bring rents down.
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Spokane title company helps strike racist restrictions from property titles for free
Racist property restrictions still exist in legal documents in Spokane and the Inland Northwest. Right now, there are local efforts to get rid of them for free. 'Restrictive covenants' were used historically to keep minority groups out of specific neighborhoods. A 1948 U.S. Supreme Court ruling made them illegal.
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PLDO Attorneys Secure $1.1M Victory for Client
Pannone Lopes Devereaux & O'Gara LLC obtained a $1.1. million judgement for its client, IDC Properties, Inc. in United States District Court for the District of Rhode Island against Chicago Title Insurance Company in the matter, IDC Properties, Inc. v. Chicago Title Insurance Company, C.A. No. 09-632-JJM-PAS. PLDO's Litigation Practice represented IDC at a trial before United States District Court Chief Judge John J. McConnell seeking damages for Chicago Title's refusal to pay pursuant to a title policy.
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U.S. weighs ban on charging buyers for lender title insurance
"Reducing the homeowner's closing costs is excellent policy, provided the lender cannot recover that cost in another way from the homebuyer through some other fee or a higher rate," Maria Vullo, who was superintendent of New York's Department of Financial Services from 2016 to 2019, said in an interview. "A title insurance policy for the lender protects the lender's interest. I think it is a positive, pro-consumer, pro-homeowner policy to say that the lender has to pay for it themselves."
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CFPB mulls title insurance crackdown
The Consumer Financial Protection Bureau is weighing whether to prohibit banks from charging homeowners for title insurance. Charging home buyers for title insurance, which protects the lenders, is a long-standing industry practice, according to a Bloomberg report. The CFPB's plan is still in its initial stages, sources told the news agency.
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