Finance Department Chair Henry Morriello will moderate the securitization panel at the IMN 4th Annual Single Family Rental Investment Forum on December 3 in Scottsdale, Arizona. In this session, the panelists will discuss various questions and issues on securitization, with topics including inter-rating agency differences in evaluating single vs. multi-borrow deals, the difference between SFR securitization and a conventional 144A deal, key differences in multi-borrower transactions that have been marketed and priced, risk retention rule issues, evaluating small/mid-sized loans, the involvement of Fannie and Freddie in this space, lease, entity and title issues, Refi risk, as well as issues arising with special servicers. Special Counsel Karsten Giesecke will also be in attendance at this year’s conference.
Kaye Scholer is active in this space, with recent work including our representation of the placement agents in Colony American Finance’s $252 million securitization of loans secured primarily by single-family rental properties. Colony American Finance is one of the first companies to complete this type of complex transaction. The securitization closed October 29, 2015. Kaye Scholer previously advised on the warehouse financing of most of the loans included in this securitization transaction.
Kaye Scholer is a proud sponsor of this annual SFR forum, which brings together key market participants including REITs, Funds, Aggregators, Fix and Flippers, Note Buyers, ABS & REIT Investors, for discussion about this growing market.