SF bankers now exporting tenant-displacing TIC loans

Banker and mayoral appointee Stephen Adams is now exporting fractional TIC home loans to communities outside San Francisco.

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Fractional mortgage loans used to convert apartments into owner-occupied tenancies-in-common have fed the eviction and displacement crisis in San Francisco, where the median home price just surpassed $1 million for the first time. Now, some of the same San Francisco banks that pioneered fractional loans here have started offered them in the East Bay and on the Peninsula.Read more »