Fannie Mae and Freddie Mac Allowed to Retain $45 Billion in Capital
The Department of the Treasury and the Federal Housing Finance Agency announced on September 30, 2019, that it will allow the government-sponsored enterprises to retain…
Category: News
Appraisals Will No Longer Be Required on Certain Home Sales of $400,000 and Under
Soon certain home sales of $400,000 and under will not need an appraisal. Federal regulators have approved a proposal to increase the threshold at which…
GAP Act: General Provisions, Part I
Republished with permission of Chancellor Lawrence Primeaux. Continuing with Intro to the GAP Act. Section numbers correspond to SB 2828. Subject matter jurisdiction (104): Chancery Court…
Mississippi Aquarium sets opening date in 2020
The Mississippi Aquarium – a $93 million aquarium on Mississippi’s Gulf Coast – is set to open April 30, 2020. That’s a little over two…
Move over GDPR, the California Consumer Privacy Act (CCPA) is coming
The Golden State is taking a major step in the protection of consumer data bypassing the California Consumer Privacy Act (CCPA), which goes into effect…
GAP Act: Section 125
Republished with permission of Chancellor Lawrence Primeaux. A good starting point in looking at the GAP Act is with the most frequently asked questions that…
Member Highlight – Underwriter: Roy Perilloux
As a Ronald Reagan delegate to the 1976 Republican National Convention that ultimately nominated Gerald Ford, Roy Perilloux makes no claims of political savvy. However,…
Plan to Restructure Fannie Mae and Freddie Mac Released
The U.S. Treasury Department released a plan on September 5, 2019, restructuring the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage…
Fidelity and Stewart Merger Terminated After FTC Complaint
The proposed merger between Fidelity National Financial and Stewart Information Services was terminated after the U.S. Federal Trade Commission sought to block the deal. Statement…
Not so Purrfect
Generally, a “signature” is a handwritten depiction of someone’s name, nickname, or even a mark, such as a simple “X,” that a person writes on…
The GAP Act: Introduction
Republished with permission of Chancellor Lawrence Primeaux. Effective January 1, 2020, every statute now existing in Title 93, Chapter 13 will be repealed and replaced…
Batten down the hatches
No … this isn’t a reference to Hurricane Dorian, which continues to pummel the northwest Bahamas and is expected to begin its long-awaited march up…
1031 Exchange: Like-Kind Requirements
Internal Revenue Code Section 1031 applies only to “property held for productive use in a trade or business or for investment”. (IRC section 1031(a)(1)). It…
Amendments to Text of Zoning Ordinance Constituted Zoning and Spot Zoning
Beard v. City of Ridgeland, 245 So. 3d 380 (Miss. 2018)(en banc). In 2014 the City of Ridgeland completed a new comprehensive zoning ordinance and…
New Law: Insurance Data Security Law
The “Insurance Data Security Law” went into effect on July 1, 2019. Not familiar with this new law? It establishes the exclusive state standards applicable…
Email Encryption … Redux!
I was at an industry conference last month when someone asked me about encrypted email. Apparently, that person had just heard a pitch for an…
1031 Exchange: An Overview of Like-Kind Property
Like-kind real property is easy to define: All real estate in the United States is like-kind property. Section 1031 makes no distinction in qualities of…
Federal Takings Claims and Graveyard Easements
In Knick v. Township of Scott, 138 S. Ct. 1262 (2019), the United Supreme Court overruled one of its cases from 1985 and held that…
Legislative Changes – Now and Later
HB 807 – extends the automatic repealer in Miss. Code Ann. Section 29-1-75 to July 1, 2022. This is the statute that limits the ability…