Real Estate News – March 24, 2011

The city of Duluth and a group of landlords argued in court Monday over new rules governing rentals to multiple tenants, the Duluth News Tribune reported (via bizjournals.com): http://bit.ly/fGFLPO

A couple is accusing banking giant Chase of locking them out of their home and removing their personal property before a foreclosure was finalized (via REALTORMag): http://bit.ly/hrLk0p

The Securities and Exchange Commission said it agreed to a request to have shareholders of Citigroup and Bank of America vote on non-binding resolutions to conduct independent reviews of their mortgage and foreclosure practices (via bizjournals.com): http://bit.ly/eqXXgi

Four more Republican state attorneys general are opposing a plan to resolve a nationwide probe of foreclosure and mortgage-servicing practices because the terms may foster a “moral hazard” (via sfgate.com): http://bit.ly/gHniOa

A commercial real-estate trade group is seeking more flexibility in a new federal requirement that issuers of asset-backed securities retain a portion of the risk on their books (via WSJ.com): http://on.wsj.com/fo4NM2