We normally would NOT reproduce language from a prospectus filed with the SEC. HOWEVER the following language is culled directly from a very interesting and timely filing made by First Mariner Bank on Tuesday (2.9.10).
It is so related to our recent posts – regarding the collapse of the commercial real estate market and the heavy-weight […]

Today the U.S. Treasury announced what they call the Homeowner Affordability and Stability Plan, intended to stave off the mortgage and residential real estate crisis. Below is a quick and dirty outline of the plan. For a summary, review the Treasury’s Fact Sheet. For the Full Plan, check out all the details right from the […]

HUD, (Housing and Urban Development), finally has reformed the RESPA Rules, in an effort to improve disclosure of key loan terms and closing costs paid by the consumer when they buy or refinance a property.
This final rule amends HUD’s regulations to further RESPA’s purposes by requiring more timely and effective disclosures related to mortgage settlement […]

More bad news. The Architecture Billings Index, which is compiled from a monthly survey of architecture firms around the U.S., is at its lowest level since the American Institute of Architects survey began in 1995.
A Leading Economic Indicator: Since the index reflects an approximate nine- to twelve-month lag time between architecture billings and construction spending, […]

Yet another great special article published in the Maryland Daily Record, by Venable’s Kevin L. Shepherd, Esq.: On Real Property - Fraudulent concealment: Scary thoughts for sellers. Read the full article for all the gory details.  
Shepherd writes about a recent decision by the Court of Special Appeals in Rhee v. Highland Development Corp. et […]

IT TOOK JUST 90 MINUTES FOR THE DAILY NEWS TO STEAL THE EMPIRE STATE BUILDING.
In one of the biggest heists (pranks) in American history, the Daily News “stole” the $2 billion Empire State Building. Find out how.
The story is both hilarious and scary. Even more reason to value good and marketable title and […]

LandAmerica’s future is now, officially, in doubt (again). Going from bad to worse ….
11.26.08 >> Title insurer LandAmerica Financial Group Inc. said Wednesday it will file for bankruptcy protection, while competitor Fidelity National Financial Inc. said it will acquire three of LandAmerica’s subsidiaries.
The bankruptcy filing of LandAmerica’s holding company and subsidiary LandAmerica 1031 Exchange […]

There is a proposal on the table that would allow bankruptcy judges to modify loans. You read it right ….
This proposal was actually taken out of the Housing and Economic Recovery Act (HERA) passed in the summer 2008, BUT this particular provision was a deal-breaker for President Bush.
Take note, though, with the election results of November 4th, our focus […]

The Pew Charitable Trust has just released a comprehensive 54 page report entitled: 

The next shoe? If and when something is going to drop, you should know about it, beforehand, so that you can be proactive and strategic in your investment and management positions.
After years of plunging residential property valuations, commercial real estate (CRE) is now heading into the danger zone as  –office vacancies rise, stores close and hotel bookings fall.
All of […]