Not just Wall Street. Corporations own 9% of residential land in US.
Corporations own roughly 9% of residential land across much of the United States, according to a report that attempts to further a quantify a trend that's become increasingly controversial amid record-high housing prices and cost burdens for renters.
|
City Council weighs new legislation on nonprofit home ownership that could end up delaying real estate closing
The New York City Council is considering legislation designed to give nonprofits greater access to residential and commercial real estate that goes on the market - but with a potentially costly catch. Sources with the real estate industry say the bill, if enacted, could increase costs and add significant delays and complicate borrowing, which could affect property sales.
|
Mortgage slip-up leaves $575k on the line for lender
A $575,000 mortgage wasn't cancelled at closing, triggering a legal fight over title agent duties and lender risk that every mortgage pro should note. Here's what happened. Back in December 2017, Nicholas and Sara Gregory bought a property in Monroe, Louisiana. They got a mortgage from Progressive Bank to help pay for it. The closing was handled by Landowners Title of Ouachita, whose job was to make sure the property was free of any old debts. But there was a big one: a $575,000 mortgage owed to Homeland Federal Savings Bank.
|
Title Piracy on the Rise in the Sea of Real Estate Ownership
As if buying real estate is not stressful enough, prospective buyers might not have heard of a new danger: title pirates. These are criminals who file phony documents claiming to own property that actually belongs to someone else. So how do title pirates operate?
|
Eleventh Circuit upholds Old Republic's $47.5 million acquisition as fair value deal
Eleventh Circuit has ruled a title insurer's $47.5 million asset sale to avoid receivership constitutes fair value - validating a survival strategy for distressed carriers. ATIF, a Florida-based title insurer, faced a perfect storm in 2008. Attorney-agents absconded with funds, investments tanked, and premium income collapsed. By 2015, regulators demanded action or threatened receivership. When Old Republic Title offered to assume ATIF's policy liabilities in exchange for the company's assets, ATIF's board saw a lifeline.
|