Today is the beginning of Fair
Housing Month. The Fair
Housing Act was enacted on April 11, 1968, making it unlawful to discriminate
against any person based on race, color, national origin, religion, sex,
familial status, or handicap in the sale or rental of a dwelling. Although
brokers must comply with the Fair Housing Act every day, it is in the month of
April that the Fair
Housing Act should be commemorated. Print out the Fair
Housing Declaration and hand it out to your fellow agents. Reread the Fair Housing Act, and
do not forget to sign up and attend our Lieb
School class on the Fair Housing Act on
September 18, 2014 or December 10, 2014.
Tuesday, April 01, 2014
Monday, March 31, 2014
The alleged effects of mold on
human health has been addressed by New York’s highest court, the Court of
Appeals, on March 27, 2014 in Cornell
v. 360 W. 51st St. Realty, LLC.
The facts of the case were that Ms.
Cornell resided in an apartment from 1997 to 2003, after which time she vacated
the property due to alleged health issues allegedly caused by mold and dampness
in her apartment. She claimed to be dizzy, asthmatic and congested and was
unable to function or sleep properly while in the apartment.
51st Street Corporation opposed
her claim, arguing that Cornell was unable to prove a cause-effect relationship
between mold and disease. Relying on a clinical immunologist as an expert, 51st
Street Corporation demonstrated that the scientific community generally accepts
that mold can cause disease through specific channels; however, none of
Cornell’s symptoms can be directly linked to mold exposure.
In dismissing the complaint, the
Court held: “Studies that show an association between a damp and moldy indoor
environment and the medical conditions that [Plaintiff’s Expert] attributes to
Cornell’s exposure to mold…do not establish that the relevant scientific community
generally accepts that molds cause
these adverse health effects.”
Brokers, keep this case in mind as
you work with clients who have fears about the effects of mold on human health
when they refuse to enter a property claiming to smell mildew.
As the Court explained, mold
exposure is not established by the scientific community to create toxic
effects, except for cases of ingestion. It only is shown to cause an immune
response in allergic individuals.
The Senate is currently formulating its bipartisan
plan to overhaul Fannie
Mae
and Freddie Mac
in the Committee
on Banking, Housing, and Urban Affairs. Chairman Tim Johnson
(D-SD) and Ranking Member Mike
Crapo (R-ID) have been working together to craft
legislation that shifts the mortgage market to the private sector and creates
the Federal Mortgage Insurance Corporation (FMIC) that will protect taxpayers
from having to bear the costs if another housing bubble bursts in the future. FMIC
will be an independent agency that supervises servicers and guarantors and
provides insurance on mortgaged-backed securities. It will also create a
mortgage insurance fund that funds insurance claims but only after the private
sector absorbs the initial risk. The government will remain a guarantor of
mortgages as a last resort.
In a news
release, Mike Crapo
explained, “This agreement moves us closer to ending the five-year status quo
and beginning the wind down of Fannie and Freddie while protecting taxpayers
with strong private capital, building the components for a stable secondary
market and avoiding repeating the mistakes of the past. Government control of
Fannie and Freddie with no private capital to protect taxpayers against losses
is unacceptable.”
This legislation is
only in its early stages, focusing on the necessity of a smooth and efficient
transition to private lending and the continuing availability of the affordable
30-year mortgage. Brokers, change is coming to the mortgage market, and it is essential
that you are knowledgeable every step of the way to a final bill. This
legislation directly affects your occupation and your clients, so keep your eyes
open for more advances in legislation.
