Rep. Calls For Oversight Of Rental-Backed Securities

Law360, New York (January 24, 2014, 4:18 PM EST) -- U.S. Rep. Mark Takano, D-Calif., on Thursday pushed for Congressional hearings into the recent rise of investor-owned properties and the development of single-family rental home-backed securities, specifically those being developed by The Blackstone Group LP and other private equity firms.

In a letter to House Financial Services Committee Chairman Jeb Hensarling, R-Texas, and ranking member Maxine Waters, D-Calif., Takano said that a hearing before the committee can help resolve unanswered questions about these new bonds and the impact they may have on the housing market.

“Proper oversight...
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