April 13, 2017
Real Estate partner Joe Forte was quoted in a Multi-Housing News article titled “Trade Groups in Effort to Fix Bank Lending Rules.” The article covers legislation proposed by the CRE Finance Counsel, a group of real estate trade organizations, to clarify the rules on high-volatility commercial real estate (HVCRE) loans originated by commercial banks. At a recent panel on the topic, Mr. Forte said, “The purpose of the legislation is not to eliminate the regulatory agencies requirements to hold more capital, but rather to clarify by definition the loans that should not be classified as HVCRE. And also to conform provisions of the rule to existing applicable federal banking regulations such as FIRREA (the Financial Institution Reform, Recovery and Enforcement Act of 1989).”
To read the full article, please click here.