Pursuits
SEC Probes Rental Home Values in Private-Equity Bond Deals
- Radian’s Green River says U.S. queries broker price opinions
- Probe said to examine if industry overassessed property values
Residential real estate for sale in the New York City suburb of Oradell, New Jersey.
Photographer: Ron Antonelli/BloombergThis article is for subscribers only.
U.S. securities regulators are investigating whether bonds backed by single-family rental homes and sold by Wall Street’s biggest residential landlords used overvalued property assessments.
Radian Group Inc.’s Green River Capital unit is among companies that received a request for information from the Securities and Exchange Commission in March about broker price opinions, or BPOs, Radian said in a regulatory filing late Friday. Green River provides BPOs that are used to value real estate in bonds backed by properties.