COLUMBUS OHIO BUILDING EXPERT
DIRECTORY AND CAPABILITIES

Fannie-Freddie Propose Liquidity Rules for Mortgage Insurers

July 16, 2014 — Clea Benson and Zachary Tracer – Bloomberg
Ms. Benson may be contacted at cbenson20@bloomberg.net; Mr. Tracer may be contacted at ztracer1@bloomberg.net Private mortgage insurers looking to do business with Fannie Mae and Freddie Mac would have to hold minimum amounts of liquid assets under standards proposed by the companies and their regulator. To back loans packaged into securities by the U.S.-owned mortgage-finance giants, insurers would have to hold liquid assets worth at least 5.6 percent of their risk exposure, and possibly more depending on the quality of the loans they cover, according to the proposal released today by the companies and the Federal Housing Finance Agency. “Mortgage insurance counterparties must be able to fulfill their intended role of providing private capital, even in adverse market conditions,” FHFA Director Melvin L. Watt said in an e-mailed statement. Ms. Benson may be contacted at cbenson20@bloomberg.net; Mr. Tracer may be contacted at ztracer1@bloomberg.net Read the court decision
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Reprinted courtesy of Clea Benson and Zachary Tracer, Bloomberg

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Gilroy Homeowners Sue over Leaky Homes

February 10, 2012 — CDJ STAFF

Two years into a lawsuit against Shapell Homes, the builder of a subdivision called Eagle Ridge in Gilroy, California, homeowners have joined or left the lawsuit. About fifty homeowners are still in the suit, which contends that construction defects have lead to water intrusion in their homes. The lawyer for the homeowners contends that more than a hundred homes have construction defects.



One homeowner said that soon after he joined the suit, Sharpell sent workers to his home who repaired problems to his satisfaction. “They came in within two weeks and fixed everything,” said Frank Lowry. Another homeowner, Wilson Haddow, said that he was “quite happy” after Shapell repaired problems.



Others weren’t quite so happy. Greg Yancey said that problems had “been a nightmare” and that “it just doesn’t feel like home.” He said that his “house is possessed,” with problems that include walls that bow out and a balcony that drips rainwater to the front door. His home is currently worth far less than the $700,000 he paid in 2007.

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Hurricane Milton Barrels Toward Florida With 180 MPH Winds

October 07, 2024 — Brian K Sullivan & David R Baker - Bloomberg
Milton exploded into the Atlantic’s strongest hurricane this year, bearing down as a catastrophic Category 5 storm on a Florida region still struggling to recover from Helene’s devastation. Milton’s top winds reached 180 miles (290 kilometers) per hour, up from 90 mph just 16 hours earlier, the US National Hurricane Center said in an advisory at 5 p.m. New York time. Milton now bests Hurricane Beryl, which raked Texas, Mexico and the Caribbean in July, as the most powerful Atlantic storm this season. With winds this intense, Milton is capable of collapsing homes, flattening trees and triggering power outages that could last weeks to months. It’s difficult for hurricanes to maintain their maximum strength for long, however, so Milton’s winds may drop as it nears Florida’s west coast. Only four Category 5 hurricanes have hit the US mainland, including Michael, which struck Florida’s Panhandle in 2018. Reprinted courtesy of Brian K Sullivan, Bloomberg and David R Baker, Bloomberg Read the court decision
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Slowing Home Sales Show U.S. Market Lacks Momentum: Economy

August 27, 2014 — Lorraine Woellert – Bloomberg
The pace of new-home sales fell to the slowest in four months in July, signaling U.S. real estate lacks the vigor to propel faster growth in the economy. Purchases unexpectedly declined 2.4 percent to a 412,000 annualized pace, weaker than the lowest estimate of economists surveyed by Bloomberg, Commerce Department data showed today in Washington. June purchases were revised up to a 422,000 rate after a May gain that was also bigger than previously estimated. Housing has advanced in fits and starts this year as tight credit and slow wage growth kept some prospective buyers from taking advantage of historically low borrowing costs. Bigger job and income gains, along with a further slowdown in price appreciation, would help make properties more affordable. Read the court decision
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Reprinted courtesy of Lorraine Woellert, Bloomberg
Ms. Woellert may be contacted at lwoellert@bloomberg.net

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Arkansas Federal Court Fans the Product Liability Flames Utilizing the Malfunction Theory

September 14, 2020 — Michael J. Ciamaichelo - The Subrogation Strategist
To establish a product liability claim in Arkansas, the plaintiff must prove that the product was supplied in a defective condition, which rendered it unreasonably dangerous and that the defective condition was the proximate cause of the claimed damage or injury. Ordinarily, a plaintiff relies upon direct evidence of a product defect to establish its product liability claim. However, in some cases, the product sustains so much damage that it is impossible for a plaintiff to obtain direct evidence of a defect. The malfunction theory allows a plaintiff in a product liability action to establish a defect through circumstantial evidence, when direct evidence of a defect no longer exists. In order to utilize the malfunction theory, a plaintiff must present evidence that an unspecified product defect was the most likely cause of the damage/accident and rule out all other possible causes of the damage/accident. In Am. Nat’l Prop. & Cas. Co. v. Broan-Nutone, No. 5:18-CV-5250, 2020 U.S. Dist. LEXIS 117116, the United States District Court for the Western District of Arkansas ruled that the plaintiff offered sufficient evidence under “the malfunction theory” to defeat a summary judgment motion in a product liability action involving a bathroom fan that was destroyed in a fire. Read the court decision
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Reprinted courtesy of Michael J. Ciamaichelo, White and Williams LLP
Mr. Ciamaichelo may be contacted at ciamaichelom@whiteandwilliams.com

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You’re Only as Good as Those with Whom You Contract

April 17, 2019 — Christopher G. Hill - Construction Law Musings
I have been beating the drum of the need to have a solid construction contract as the basis for your construction project and contractor/subcontractor/supplier relationships. I have also emphasized that communication early and often is one of the best ways to assure a smooth project. However, the sad truth is that even with the best contract drafted with the assistance of an experienced construction attorney, if the other party to the contract simply decides not to perform, whether that is through unjustified non-payment or simple refusal to complete a scope of work without reason, it will be an expensive proposition to force compliance or be compensated for the monetary damage caused by such actions. It is this often unmentioned truth relating to any contract, including those that construction professionals in Virginia deal with on a daily basis, that makes having a good knowledge of those with whom you plan to contract is key to a successful (read profitable) construction project. Of course be sure that any contractor or subcontractor you contract with has the basics of propoer insurance, the right experience and of course a contractor’s license with the proper specialty or specialties. These basics will get you most of the way to assuring that those that contract with you at least are responsible in business. Another key component, if you can find this information out, is the financial wherwithall of the other party. For a General Contractor, this means both sides of the equation: Owner and Subcontractors. For a Subcontractor, the key is the Contractor, but any other information you can get on the Owner is helpful (though this can be difficult) particularly in the face of a “pay if paid” clause. Read the court decision
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Reprinted courtesy of The Law Office of Christopher G. Hill
Mr. Hill may be contacted at chrisghill@constructionlawva.com

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Project-Specific Policies and Products-Completed Operations Hazard Extensions

May 31, 2021 — Jeremiah M. Welch - Saxe Doernberger & Vita
1. Understanding the “Products-Completed Operations Hazard” ISO commercial general liability (“CGL”) policies use the term “products-completed operations hazard” (“PCOH”) to define a category of risk which is treated specially by certain exclusions within the policy and often subject to separate limits of insurance. In construction, we think about PCOH as being about coverage for completed work. Bodily injury and property damage arising out of completed work is a significant construction risk. Most construction contracts include warranty and indemnity obligations for completed work. All states allow lawsuits to be brought alleging bodily injury or property damage because of completed work based on common law. Contract and common law claims are subject to statutes of limitation – laws which define the time in which suits must be brought. Most states provide exceptions to their statutes of limitation for common law claims – the most common example is an extension to file a lawsuit based on a latent defect until the defect is discovered. Most states also have “statutes of repose” – laws that set a date after which suit may no longer be brought, no matter what the circumstances are. A construction contractor, therefore, has potential liability until the statute of repose period has expired. Thus, a contractor looks to ensure that it has coverage for the PCOH for its full statute of repose liability period. Read the court decision
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Reprinted courtesy of Jeremiah M. Welch, Saxe Doernberger & Vita
Mr. Welch may be contacted at JWelch@sdvlaw.com

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A DC Office Building Offers a Lesson in Glass and Sculpture

May 08, 2023 — Kriston Capps - Bloomberg
From the outside, the facade of 2050 M Street, an office building in Washington, DC, looks like it’s made with liquid soap. Standing inside and looking out, its structure is almost invisible. The building, which was finished in 2020, boasts an ethereal curtain wall, created from hundreds of fluted planes of glass treated with a special industrial coating. The result is a multifaceted surface that pushes the limits of transparency, enhanced with a silver opal shine. According to Joshua Ramus, founding principal of the architecture firm REX, the 12-story structure’s design reflects Washington’s building history, while its construction required a rather novel procurement process. The building, he says, is very much a DC story. Each of its 978 glass panels is concave, shaped using an innovative machine called a bending tempering furnace. Curving glass makes it stronger as a material, and this building’s panes are strong enough to stand up with minimal infrastructure. The building doesn’t employ mullions, window components that hold glass in place. Even a few years ago, achieving such an effect by shaping pieces of glass would have been prohibitively expensive. Read the court decision
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Reprinted courtesy of Kriston Capps, Bloomberg

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