Update: ATO HQ has revoked the charter of the U. of Michigan chapter. Risk management issues and the condition of the house are cited in the articles in the student paper and the Detroit Free Press.
http://www.michigandaily.com/vnews/d.../425ba02fe1565
http://www.freep.com/news/metro/frat.12e_20050412.htm
Apparently students will be allowed to live in the house until the end of this month, but initiates are now alumni and pledges have been released.