For Real Estate Professionals Seeking a Market Edge
Senators Propose Latest Options for Oversight of Nation’s Banks
With numerous issues yet to be addressed in their latest plan, Washington Lobbyists reported this week that key Senators are proposing retaining oversight of large bank holding companies. This scaled back reform plan has yet to be reviewed in an open forum and will be subject to intense scrutiny by the banking industry.
Lawmakers are considering requiring the Fed to maintain current supervision of prominent banks as prior patchwork legislative proposals were deemed too bold and have lost support. Under this latest plan which has yet to be finalized, it is still unclear as to whether or not the Fed will serve as an ‘umbrella supervisor,’ continuing to rely on Federal auditors for detailed bank exams. It is also unclear how many companies might be positioned under such supervision. One option being suggested is to target those holding companies whose minimum assets total $100 billion. If approved, approximately 20 major firms will be affected.
Other, more expansive options are also being considered. Senate Banking Committee Chairman Christopher Dodd [D-Connecticut] is expected to unveil legislation this week following months of negotiations with fellow Democrats and Republicans. Regulatory reform is a top domestic priority of President Obama, whose objective is to crack down on banks and capital markets following the worst financial crisis in decades.
We will keep you posted…
Hot Money
National Lender Seeking Stabilized Properties
Penstar recently identified a lender interested in mid-sized multi-tenant retail, office, and industrial properties. Loans ranging from $1,500,000 to $15,000,000 with an emphasis of $3,000,000 to $10,000,000 are being considered. All loans can be 25-year fully amortizing, subject to rate reviews. Recourse and non-recourse loans are available. Rates and respective terms start as low as 5.75% for a 3-year fixed term and 7.25% for a 20-year self-liquidating term. For more information, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com.
Helpful Humor
The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work-week
“Picture This!”
In the midst of a fantastic free-fall, a skydiver yanks the rip cord to open his parachute, but nothing happens. Quickly and without panic, he attempts several maneuvers but is unsuccessful at opening the chute. |
30
Day Libor |
10-Year
Treasury |
Prime |
0.23% |
3.74% |
3.25% |
Penstar Realty Advisors can be reached at (818) 883-9600.
Our offices located at:
21700 Oxnard Street, Suite 1870, Woodland Hills, CA 91367