other material
confidence high
sentiment neutral
materiality 0.60
Merchants Bank completes $1.2B securitization of multifamily bridge loans
Merchants Bancorp
- Private REMIC securitization of $1.2B first-lien floating-rate multifamily bridge loans.
- Merchants Bank retains senior certificates representing ~86.6% beneficial interest; third-party investors buy subordinate certificates.
- Subsidiary Merchants Capital Corp. will continue servicing the loans.
- Expected to reduce risk-weighted assets and provide capital relief under risk-based capital rules.