Ramco-Gershenson Properties Trust, Farmington Hills, Mich., has announced a favorable conclusion to a long-standing tax dispute with the Internal Revenue Service.The real estate investment trust said the IRS has allowed the statute of limitations (as previously extended) to expire for the taxable years 1996-2000. "No tax deficiencies were assessed, nor did the Internal Revenue Service choose to pursue its proposed disqualification of the company as a REIT with respect to any such taxable year," Ramco said. The shopping center REIT can be found on the Web at http://www.ramcogershenson.com.
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The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17