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Mostly I've seen "House Corporations" that are controlled by Alums (I'm helping set one up right now). Basically the alums sign THEIR names on the loans to buy a house and the corporation and its officers are the sole proprieters of the house.
The house manager/treasurer/pres would all report to the house corporation. They get the say-so on what happens in the house and are essentially charged with making sure their credit doesn't get ruined -- alums that are financially tied to the survival of the chapter.
I've heard of some national offices keeping building funds and buying realestate -- essentially controlling very large houseing corporations. Most places don't do that because it makes the entire organization somewhat unstable.
Hope that helps.
LHT,
Kevin
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