The Federal Deposit Insurance Corp. has found a way forward for the $15 billion worth of affordable-housing assets it took over from failed Signature Bank.
The Federal Deposit Insurance Corp. looks to have found a way forward for the portfolio of affordable-housing assets it took over from failed lender Signature Bank.that it has begun the process to sell the $33 billion of commercial real estate loans from Signature, FDIC said it will create joint ventures with potential buyers of the approximately $15 billion in loans for multifamily residences that are rent- stabilized or rent-controlled.
New York City pedestrians on March 13, 2023, walk past a Manhattan branch of Signature Bank, which was closed by regulators on Sunday. An apartment building in the Astoria neighborhood of Queens in New York City is pictured in the inset on March 19, 2018. The FDIC has progressed with the affordable-housing assets it took over from Signature.
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