The trend of putting ever-smaller pieces of the same commercial mortgages into multiple securitizations requires investors to be extra careful, and will inevitably make workouts of bad loans more complicated.
A Newport Beach, Calif., man was arraigned on charges of impersonating an attorney and defrauding clients through debt consolidation and mortgage modification schemes, according to the Orange County District Attorney's office.
New York Gov. Andrew M. Cuomo signed legislation sending $2.5 billion to the construction and preservation of affordable housing, celebrating it as the start to his $20 billion plan to combat homelessness.
A yearlong battle in San Francisco City Hall ended Wednesday night when two factions on the Board of Supervisors reached a compromise on how much affordable housing to require in new market-rate developments.