11/10/2011 12:30 p.m. - 02:00 p.m. EST
Corporate Finance | Capital Markets, Financial Institutions + Financial Services, REITs, Federal Tax, and Structured Finance + Securitization
Kenneth E. Kohler
Find out how the new mortgage REITs (Real Estate Investment Trusts) operate—and how to protect them in the next financial downturn.
The mortgage REIT industry was all but wiped out in the financial crisis. Three years later, the U.S. mortgage market remains in disarray, with the future of the bankrupt mortgage giants, Fannie Mae and Freddie Mac, in serious question and other pre-crisis mortgage market players ensnarled in billions of dollars of litigation claims. In recent months, some of the most formidable companies on Wall Street - including PIMCO, Apollo, Starwood, Invesco and AllianceBernstein - have formed new mortgage REITs, placing large bets on a rosy future for the mortgage REIT industry.
What role will mortgage REITs play in leading the U.S. out of its housing recession? Will mortgage REITs supplant banks and the GSEs as dominant mortgage market players? Partner Thomas A. Humphreys and Senior Of Counsel Kenneth E. Kohler, Morrison & Foerster LLP, New York City, are joined by Halle Benett, Managing Director, UBS Investment Bank, New York City, for a discussion that will explore the advantages and disadvantages of mortgage REITs in the post-crisis legal and regulatory environment. They will also address the legal steps required to form and operate a mortgage REIT and protect it in the next financial downturn.
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