Merchants Capital Executes Credit Risk Transfer on $543+ Million Multifamily Bridge Loans

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[{"type":"text","content":"CARMEL, Ind., Aug. 1, 2024 /PRNewswire/ -- (Nasdaq: MBIN) Leading financial services provider Merchants Capital today announced the execution of a $543.5 million Credit Risk Transfer (CRT), secured by 41 performing multifamily bridge loans. This is the second multifamily CRT and the third overall completed by Merchants' Capital Markets platform, which has executed nearly $4 billion in securitizations. \n\n \n \n \n \n \n \n\n \nThe transaction, which closed in March, was structured as a Credit Default Swap (CDS), with $76 million in credit protection purchased from a large institutional investor as a first-loss risk transfer. Bridge loans from 53 properties are included in the portfolio, with a total of 7,040 units from 14 states, the largest concentrations located in Indiana, South Carolina and Illinois.\n\"The Capital Markets team continues to add value, demonstrate innovation and fuel lending across Merchants Capital,\" said Evan Gibson, Executive Vice President, Capital Markets at Merchants Capital. \"We are very pleased with the growth of our platform and efficiency in providing capital relief, which provides Merchants Capital with capacity for additional loan growth.\"\nThe transactions led by Merchants' Capital Markets platform, including this CRT, support Merchants Capital's production, which totaled nearly $7 billion in 2023.\nTo learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, X, LinkedIn and Instagram.\nABOUT MERCHANTS BANCORPRanked as a top performing U.S. public bank by S&P Global Market Intelligence, Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple segments, including Multifamily Mortgage Banking that primarily offers multifamily housing and healthcare facility financing and servicing (through this segment it also serves as a syndicator of low-income housing tax credit and debt funds); Mortgage Warehousing that offers mortgage warehouse financing, commercial loans, and deposit services; and Banking that offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. Merchants Bancorp, with $18.2 billion in assets and $14.9 billion in deposits as of June 30, 2024, conducts its business primarily through its direct and indirect subs...

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