Real Estate News – September 30, 2011
Bond New York, a real estate brokerage with hundreds of upscale apartment listings around the city, has been accused of hacking into a competitor’s computer system and stealing listing information (via blogs.wsj.com):
Rich and famous are mere mortals in soft real estate market (via USAToday.com): http://usat.ly/reZh5n
JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors claiming losses on $4.5 billion of soured mortgage debt, adding to litigation targeting the two largest U.S. banks (via chicagotribune.com): http://trib.in/qNJEda
Morgan Stanley won dismissal of a government pension fund lawsuit accusing it of defrauding investors in $1.2 billion of risky mortgage debt that it expected to fail (via Reuters.com): http://reut.rs/o5KrVH
A federal grand jury in Sacramento on Wednesday handed down an indictment charging eight people in Sacramento, Roseville, West Sacramento, Citrus Heights, Florida and Washington in a mortgage fraud conspiracy (via bizjournals.com): http://bit.ly/pnIguI
Twin Cities home builders picked up the pace a bit in September, and Maple Grove and Plymouth were metro-area construction hot-spots. That’s according to the latest data from the Builders Association of the Twin Cities (BATC), which said that during September home builders were issued 272 permits to build 352 units in the Twin Cities metro area. (A builder can be issued one permit to build mulitple units.) Builders planned to build 44 units in Maple Grove and 43 in Plymouth (via StarTribune.com): http://bit.ly/ovlQHu