Cambridge Massachusetts Building Expert Directory

Housing Starts Surge 23% in Comeback for Canadian Builders

July 15, 2019 — Theophilos Argitis - Bloomberg
Canadian housing starts unexpectedly surged in April, in another sign of recovery for the nation’s battered real estate market. Builders started work on an annualized 235,460 units last month, the highest level in 10 months and up 23 percent from 191,981 units in March, the Canada Mortgage and Housing Corp. reported Wednesday. The gain was driven by new multi-unit construction in Toronto and Vancouver. Read the court decision
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Reprinted courtesy of Theophilos Argitis, Bloomberg

Fannie-Freddie Elimination Model in Apartments: Mortgages

April 08, 2014 — Sarah Mulholland – Bloomberg
The apartment-lending units of Fannie Mae (FNMA) and Freddie Mac were among their few money makers after the U.S. housing collapse. Now they should help transform the U.S. mortgage industry. Lawmakers seeking to eliminate the two government lenders, which were seized by regulators during the 2008 credit crisis, see an antidote to the reckless lending that blew up the U.S. housing market in the structure of the firms’ multifamily operations, which share risks with lenders. Senate Banking Committee Chairman Tim Johnson and Republican Mike Crapo are proposing legislation to create a new government-backed reinsurer of mortgage bonds that would require private investors to bear losses on the first 10 percent of capital. The model for the provision mirrors Fannie Mae and Freddie Mac (FMCC)’s multifamily lending operations, requiring lenders to shoulder some of the risk on loans they originate. Read the court decision
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Reprinted courtesy of Sarah Mulholland, Bloomberg
Ms. Mulholland may be contacted at smulholland3@bloomberg.net

Appellate Court Lacks Jurisdiction Over Order Compelling Appraisal

January 16, 2024 — Tred R. Eyerly - Insurance Law Hawaii
The Eleventh Circuit recently held that the district court's order compelling appraisal and staying the proceedings pending appraisal was an interlocutory order that was not immediately appealable under 28 U.S.C. 1292 (a) (1). Positano Place at Naples Condominium Association, Inc. v. Empire Indem. Ins. Co., 2023 U.S. App. LEXIS 27961 (11th Cir. Oct. 20, 2023). Postiano Condominium Association suffered damage from Hurricane Irma. Pastiano notified its insurer, Empire, seven months later. Empire investigated the claim and inspected the property. Positano sent a written request for appraisal. Empire did not respond and Pastiano filed suit, alleging that the parties' dispute was not a coverage dispute but a dispute over the amount of the loss. Postiano moved to compel appraisal and to stay the proceedings pending completion of the appraisal. Read the court decision
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Reprinted courtesy of Tred R. Eyerly, Damon Key Leong Kupchak Hastert
Mr. Eyerly may be contacted at te@hawaiilawyer.com

Final Thoughts on New Pay If Paid Legislation in VA

August 15, 2022 — Christopher G. Hill - Construction Law Musings
This past General Assembly session, and after a governor’s amendment and with the convening of a study group, a new statute banning so-called “pay-if-paid” clauses from enforcement was passed. Some of the key features of the legislation are as follows: It does not take effect until January 1, 2023, and, For those construction contracts in which there is at least one general contractor and one subcontractor:

It requires payment within 60 days of receipt of an invoice following the satisfactory performance of the work or within 7 days of receipt of payment by the Owner
It allows for retainage
It allows the higher-tier contractor to withhold money for improper performance

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Reprinted courtesy of The Law Office of Christopher G. Hill
Mr. Hill may be contacted at chrisghill@constructionlawva.com

New York’s 2022 Comprehensive Insurance Disclosure Act: Significant Amendments to the C.P.L.R.

January 17, 2022 — Ellen H. Greiper & Kristen Carroll - Lewis Brisbois
New York, N.Y. (January 4, 2022) - On December 31, 2021, New York State Governor Hochul signed into law the Comprehensive Insurance Disclosure Act. The alleged justification for the act was to reduce the use of “delaying tactics” by compelling disclosure of the complete primary, excess, and umbrella policies implicated by the claim. These amendments will be unduly onerous on both carriers and defense counsel—for a multitude of reasons. It imposes an obligation on the insurer to immediately identify excess policies, eroding policies, and other information or contracts that affect the available coverage. Reprinted courtesy of Ellen H. Greiper, Lewis Brisbois and Kristen Carroll, Lewis Brisbois Ms. Greiper may be contacted at Ellen.Greiper@lewisbrisbois.com Ms. Carroll may be contacted at Kristen.Carroll@lewisbrisbois.com Read the court decision
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25 Days After Explosion, Another Utility Shuts Off Gas in Boston Area

October 30, 2018 — Johanna Knapschaefer - Engineering News-Record
Three hundred thirty-nine homes in Woburn, Mass., were without power on Oct. 8 after National Grid shut off gas meters following the inadvertent over-pressurization of the natural gas line on Oct. 8, according to the Woburn Fire Dept. Read the court decision
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Reprinted courtesy of Johanna Knapschaefer, ENR
ENR may be contacted at ENR.com@bnpmedia.com

California Supreme Court Holds that Requirement of Prejudice for Late Notice Defense is a Fundamental Public Policy of the State for Choice of Law Analysis

November 04, 2019 — Lorelie S. Masters, Michael S. Levine & Michelle M. Spatz - Hunton Insurance Recovery Blog
California’s highest court held yesterday in Pitzer College v. Indian Harbor Insurance Co., that the state’s insurance notice-prejudice rule is a “fundamental public policy” for the purpose of choice of law analyses. This unanimous ruling, issued in response to certified questions from the Ninth Circuit, confirms and emphasizes California’s common law rule that policyholders who provide “late notice” may proceed with their insurance claim, absent a showing by the insurer of substantial prejudice. The California Supreme Court also extended the prejudice requirement, holding that a first-party insurer must show that it was prejudiced before denying coverage under a policy’s “consent provision,” which typically provides that the policyholder must obtain the insurer’s “consent” before incurring costs and expenses. Reprinted courtesy of Hunton Andrews Kurth attorneys Lorelie S. Masters, Michael S. Levine and Michelle M. Spatz Ms. Masters may be contacted at lmasters@HuntonAK.com Mr. Levine may be contacted at mlevine@HuntonAK.com Ms. Spatz may be contacted at mspatz@HuntonAK.com Read the court decision
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Statutory Bad Faith and an Insured’s 60 Day Notice to Cure

April 11, 2018 — David Adelstein - Florida Construction Legal Updates
A recent case came out in favor of an insured and against a first-party property insurer in the triggering of a statutory bad faith action. Florida’s Fifth District Court of Appeal in Demase v. State Farm Florida Insurance Company, 43 Fla. L. Weekly D679a (Fla. 5th DCA 2018) held that if an insurer pays a claim after the 60-day notice to cure period provided by Florida Statute s. 624.155(3), this “constitutes a determination of an insurer’s liability for coverage and extent of damages under section 624.155(1)(b) even when there is no underlying action.” Read the court decision
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Reprinted courtesy of David Adelstein, Florida Construction Legal Updates
Mr. Adelstein may be contacted at dadelstein@gmail.com

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