Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience.

November 20, 2013

Perry Capital ($9 Billion AUM) Sues Fannie and Fredie

Many commercial banks in the United States own Freddie and Fannie preferred shares. Those shares have had their dividends suspended, and are junior to the senior preferred stock issued to the Treasury in the restructuring of the two companies. The market value of the preferred shares plunged after the restructuring announcement and suspension of dividends. Banks were required to write down the value of Freddie and Fannie preferred stock held in their portfolios, compounding capitalization concerns for certain U.S. banks.[37] Gateway bank agreed to be bought out by Hampton Roads Bankshares Inc. to make up for a writedown of $40 million on its stock in Fannie and Freddie, which put it below regulatory requirements to be considered adequately capitalized.
Read by 57% of LPs October 29, 2013

Cerberus Starts Commercial Mortgage Securities Hedge Fund

Cerberus Capital Management LP, the $20 billion New York-based firm focused on distressed assets, started a fund to invest in commercial mortgage debt, according to a letter to investors obtained by B...
Read by 73% of LPs October 29, 2013

Hedge funds hope for more mortgage juice

Hedge funds hope to squeeze more gains out of the real estate market despite increasingly muted returns....
Read by 47% of LPs