Mortgage REITs Warn Feds To Back Off Debt Regulation

Law360, New York (November 23, 2011, 4:56 PM EST) -- Mortgage real estate investment trusts are fighting to protect their debt-heavy business models after federal regulators raised concerns over the industry’s long-held exemption from the tight leverage standards imposed on other investment companies.

Scores of mortgage REITs and other investors warned the U.S. Securities and Exchange Commission earlier in November to back off any moves to regulate REITs under the Investment Company Act of 1940, which exempts companies that primarily invest in mortgages, claiming that new regulations could be devastating both to the industry and economy...
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