In a recent advisory bulletin, the regulator directed the FHLBs to limit the size of their exposure to CMBS issued by Fannie Mae and Freddie Mac, and to ensure proper diversification of their portfolios.
GSE regulator Sandra Thompson: “FHFA has nothing against big players, but their size means that they don’t have to worry about accessing the capital markets. Small lenders, on the other hand, may be able to leverage local knowledge to best serve their communities.”
Refinance and restructuring of previously issued deals accounted for 62.8% of first-quarter CLO and CDO issuance. A total of $47.94 billion of such deals hit the market...
In March, AFC Gamma completed its initial public offering, raising $118.8 million in cash while becoming the first publicly traded lender specializing in cannabis real estate.
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