By Mark Calvey
Protesters gathered at First Republic Bank’s San Francisco headquarters at lunchtime Tuesday got the message they wanted to hear: The bank will step up efforts to ensure its mortgages don’t finance the eviction of longtime tenants under the state’s controversial Ellis Act.
“First Republic understands the community’s concerns about the implications of the Ellis Act on tenants,” the bank said in a statement distributed to protesters. “We have changed our lending policy to minimize the repurposing… …read more
From:: biz journal foreclosures