HOUSINGNEWS REPORT
LEGAL BRIEFS
Quicken Loans Gets Lawsuit Relocated to Detroit A federal judge moved the Quicken Loans case against the Department of Justice and the Department of Housing and Urban Development from Washington, D.C., to the mortgage lender’s hometown in Detroit. U.S. District Court Judge Reggie B. Walton said moving the case to the Eastern District Court in downtown Detroit would be more appropriate and convenient venue for the fraud allegations against Quicken Loans to be heard. Quicken, which is the nation’s largest Federal Housing Administration-backed mortgage lender, sued the DOJ and HUD in April 2015, claiming that it was left with no alternative but to sue due to the DOJ’s demands. The government countersued Quicken six days later.
Real Estate Cases to Watch in 2017 Rules and regulations governing short-term rental platforms like Airbnb and VRBO in cities across the country are among the areas of real estate law litigators will have their eyes on in 2017. While New York, San Francisco and New Orleans have been in the headlines over the past several years with regard to efforts to codify or enforce city laws on short-term rentals, a pair of cases in Chicago could provide more clarity on the issue this year. On June 22, 2016, the Chicago City Council adopted a short- term rental ordinance that now requires property owners wishing to rent on a short term basis to apply for and obtain a license, plus pay a 21 percent tax increase. The vote was 43-7. Backed by Democratic Chicago Mayor Rahm Emanuel, the new ordinance slaps a 4 percent surcharge tax on home- sharing bookings on top of Chicago’s 17.4 percent hotel tax, and sets the stage for a sharing economy showdown similar to the one brewing between the taxicab industry and Uber and Lyft over a plan to license ride-sharing drivers. Meanwhile, a group of homeowners is suing the city of Chicago, alleging the city’s new “draconian and unintelligible restrictions” on Airbnb and other homesharing platforms are unconstitutional and punish responsible homeowners. On Nov. 4, 2016, Benjamin Thomas Wolf, president of Keep Chicago Livable, filed suit against Chicago’s new regulations on Airbnb rentals ( Keep Chicago Livable and Benjamin Thomas Wolf v. City of Chicago ); a second lawsuit with different plaintiffs was filed Nov. 15, 2016 ( Mendez v. City of Chicago ).
The case is United States v. Quicken Loans, Inc.
SOURCE: United States v. Quicken Loans, Inc.
Stay Informed with Latest Trends in the Real Estate Market
www.realtytrac.com/news
SOURCE: Chicago Tribune, Crain’s Chicago Business
ATTOM Data Solutions • P30
Made with FlippingBook Online newsletter