The securitization will pay off existing construction loans on 21 properties in 10 states while also creating a revolving facility to fund the remaining construction costs and acquire new properties.
Reps. Ann Wagner, R-MO, and Brad Sherman, D-CA, raised concerns of the securitization industry with Federal Reserve Chair Jerome Powell. They aim to influence a proposal to implement changes to capital requirements for large banks.
The custodial structuring and deposit accounts used in securitizations don’t pose any policy concerns that the FDIC’s rule is attempting to fix, according to SFA.