Fairfield Connecticut Building Expert Directory

The Latest News on Fannie Mae and Freddie Mac

May 01, 2014 — Beverley BevenFlorez-CDJ STAFF
The Federal Housing Finance Agency released a report on April 30th, which stated that in a severe economic downturn Fannie Mae (FNMA) and Freddie Mac (FMCC) “could require an additional bailout of as much as $190 billion… according to the results of stress tests,” according to Clea Benson writing for Bloomberg. “These results of the severely adverse scenario are not surprising given the company’s limited capital,” FNMA Senior Vice President Kelli Parsons said in a statement, as reported by Benson published in Bloomberg. “Under the terms of the senior preferred stock purchase agreement, Fannie Mae is not permitted to retain capital to withstand a sudden, unexpected economic shock of the magnitude required by the stress test.” Furthermore, in another Bloomberg article, Cheyenne Hopkins and Clea Benson reported that Democrats remain divided on how to replace FNMA and FMCC. “If we don’t get this right, we’ll create major disturbances in the housing market which will have a profound impact on families, on homeownership and certainly on our national economy,” Oregon Democrat Jeff Merkley said in an interview, as reported by Cheyenne and Benson. “Merkley described himself as ‘still in negotiations’ with the bill’s sponsors.” Read the full story, Clea Benson Article... Read the full story, Cheyenne Hopkins & Clea Benson Article... Read the court decision
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Lien Claimant’s Right to Execute against Bond Upheld in Court of Appeals

February 10, 2012 — Douglas Reiser, Builders Council Blog

Stonewood v. Infinity Homes is a simple construction dispute over a matter of about $9,000.00. But sometimes these tiny little disputes turn into expensive legal battles over mere procedural quivering. In Stonewood, a small subcontractor won a big victory yesterday when the Divison 1 Court of Appeals upheld its judgment against a lien release bond posted by an owner.

Infinity Homes contracted with Stonewood Design to lay tile in one of its customer’s homes. Stonewood did the work, but Infinity withheld roughly $9,000.00 of the contract sums for what it alleged were trade damages left on the tile. The two parties were unable to come to an agreement over payment and Stonewood proceeded with a lien under RCW 60.04. It then filed an action to enforce the lien against the homeowner, Infinity and its bonding company.

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Reprinted courtesy of Douglas Reiser of Reiser Legal LLC. Mr. Reiser can be contacted at info@reiserlegal.com

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Real Estate & Construction News Round-Up (01/11/23) – Construction Tech, Housing Market Confidence, and Decarbonization

February 01, 2023 — Pillsbury's Construction & Real Estate Law Team - Gravel2Gavel Construction & Real Estate Law Blog
To kick of 2023, this week’s news round-up dives into contech inventions projected to impact the industry, shifting home prices and buyer confidence, investors prioritizing decarbonization efforts, and more.

From holograms to robots, these 6 contech innovations are projected to tackle some of construction’s toughest issues. (Robyn Griggs Lawrence, Construction Dive)
Manufacturing and data center projects will support the U.S. construction industry as work begins to slow on retail projects, warehouses and offices. (Sebastian Obando, Construction Dive)
Despite macroeconomic headwinds, doubling down on decarbonization efforts is projected to be top-of-mind for investors and occupiers in 2023. (JLL)

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What is Toxic Mold Litigation?

May 30, 2018 — Vik Nagpal – Bremer Whyte Blog
To understand what Toxic Mold Litigation is, it is important to first identify and understand what toxic mold is. Mold is a fungus which is essentially everywhere, and certain types of mold, known as toxic mold, may cause severe personal injuries and/or property damage. Toxic mold refers to those molds capable of producing mycotoxins which are organic compounds capable of initiating a toxic response in vertebrates. Toxic mold generally occurs because of water intrusion, from sources such as plumbing problems, floods, or roof leaks. It is this ageless life form that has spawned a new species of toxic tort claims and has had legal and medical experts debating the complex health implications that follow. Here is some information as to what toxic mold litigation is and when you should hire a lawyer for toxic mold. Read the court decision
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Reprinted courtesy of Vik Nagpal, Bremer Whyte Brown & O'Meara LLP
Mr. Nagpal may be contacted at vnagpal@bremerwhyte.com

Second Month of US Construction Spending Down

November 05, 2014 — Beverley BevenFlorez-CDJ STAFF
ABC News reported that US Construction spending was down again in September, though housing had a slight rebound. "Construction spending dropped 0.4 percent in September compared to August when spending fell 0.5 percent, the Commerce Department reported Monday," as quoted by ABC News. However, "expectation is that further gains in construction will help support growth this quarter and into next year. Many economists are looking for the economy to grow at a 3 percent rate in the final three months of this year and average 3 percent in 2015 as well," according to ABC News. Read the court decision
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A Look at Trending Legislative Changes Impacting Workers' Comp

February 26, 2024 — Rosanna Shamash - Construction Executive
The tides are shifting in the construction industry when it comes to legal matters—and business owners could feel the brunt of it. Recent legislative changes in the state of New York could signal how workers’ compensation cases move forward across the country and impact business owners in the space. Arguably, New York has historically laid the groundwork for workers’ compensation law in numerous other states. Now, we’re seeing a clear shift in favor of workers with some of the recent legislative changes. Owners, operators and executives in the construction space have increasingly found themselves facing costly claims that in years prior carried a smaller dollar value and were largely viewed as inconsequential. So, what’s the best way for business owners in the construction industry to protect their businesses for the future? Start by gaining a basic understanding of changes in the legal landscape, by securing defense attorneys who know the construction space and by taking steps to protect your business before an incident happens. Reprinted courtesy of Rosanna Shamash, Construction Executive, a publication of Associated Builders and Contractors. All rights reserved. Read the court decision
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The EPA’s Renovation, Repair, and Painting Rule: Are Contractors Aware of It?

March 12, 2015 — Beverley BevenFlorez-CDJ STAFF
Remodeling Magazine reported recently that some remodelers are unaware of the U.S. Environmental Protection Agency’s (EPA) Renovation, Repair and Painting (RRP) rule despite that it took effect back in April of 2010. “There are still quite a few remodelers who have never heard of RRP,” Mark Schlager, president of Access Training Services, an EPA and Occupational Safety and Health Administration (OSHA) trainer in Pennsauken, N.J. told Remodeling Magazine. According to the article, “The RRP rule applies to homes, apartments, and child-occupied commercial facilities built before 1978.” There are two RRP certifications required on every job: “a “Firm” certification for the company that contracts to do the work, and a “Renovator” certification for the person overseeing the work. A solo operator needs both certifications, which are good for five years.” Read the court decision
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The Cost of Overlooking Jury Fees

February 07, 2022 — Nicholas B. Brummel, Arezoo Jamshidi & Lawrence S. Zucker II - Haight Brown & Bonesteel
On January 21, 2022, the Court of Appeal, Second Appellate District, Division Two (Los Angeles), certified for publication a 2-1 decision that serves as an important reminder to California attorneys to post jury fees in a timely manner and to use appropriate channels and consult with appellate counsel in seeking appellate relief from contested rulings. In TriCoast Builders, Inc. v. Nathaniel Fonnegra, (B303300, Jan. 21, 2022), a construction defect dispute, the trial court set a jury trial at defendant’s request. However, on the day trial was set, defendant waived jury trial. Plaintiff objected and made an oral request for jury trial. The trial court denied the request finding that plaintiff waived its right to a jury trial by failing to timely post jury fees. The matter proceeded to a bench trial, and the court ruled in favor of defendant. Plaintiff appealed, having failed to seek a writ of mandate, which the appellate court noted “is the proper remedy to secure a jury trial allegedly wrongfully withheld.” Reprinted courtesy of Nicholas B. Brummel, Haight Brown & Bonesteel, Arezoo Jamshidi, Haight Brown & Bonesteel and Lawrence S. Zucker II, Haight Brown & Bonesteel Mr. Brummel may be contacted at nbrummel@hbblaw.com Ms. Jamshidi may be contacted at ajamshidi@hbblaw.com Mr. Zucker may be contacted at lzucker@hbblaw.com Read the court decision
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