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CSE Message Board

  • trubulator12345 trubulator12345 Apr 14, 2008 5:31 PM Flag

    JMHO: CSE will be a bank within 3 years


    All the signs point to it. They will have to retain significant capital to comply with bank regulatory rules, which is really tough to do if you are a REIT. They also will likely spin off the main item that doesn't fit within a bank: the healthcare REIT. Once you do that, you can collapse the MBS portfolio, de-REIT, and do the vast majority of your lending within the bank. This is perfectly consistent with a view that the securitization markets ain't coming back any time soon.

    But the plus is that it makes it a lot easier to sell out at a significant premium to book down the road...

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