Rent-Backed Securities | Blackstone, Deutsche Bank in Talks to Sell Bond Backed by Home Rentals

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Rent-Backed Securities | Blackstone, Deutsche Bank in Talks to Sell Bond Backed by Home Rentals

Rent-Backed Securities | Blackstone, Deutsche Bank in Talks to Sell Bond Backed by Home Rentals

WSJ-

Two major Wall Street firms are in detailed discussions to create and sell the world’s first bond backed by home-rental payments, people familiar with the matter say.

Blackstone Group LP is in negotiations to bundle monthly rental payments on around 1,500 to 1,700 of its homes. The private-equity giant is among the firms that have spent billions buying homes out of foreclosure, an investment strategy that has helped to bolster demand and strengthen the U.S. housing market.

The bond comprised of the Blackstone homes would be structured and marketed to investors by Deutsche Bank AG, the people say.

The creation of a new type of security shows that Wall Street’s financial engineering, blamed for deepening the financial crisis, is revving back up.

Some investors and analysts have said they are wary of a bond backed by rental payments, citing the dearth of long-term data on how often tenants living in previously foreclosed homes pay their rent on time.

[WALL STREET JOURNAL]

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5 Responses to “Rent-Backed Securities | Blackstone, Deutsche Bank in Talks to Sell Bond Backed by Home Rentals”

  1. How does anyone trust the banks including Deutsche bank to give them funds they have coming? Once trusted and screwed the second time shame on you.

  2. How does anyone trust the banks including Deutsche bank to give them funds they have coming? Once trusted and screwed the second time shame on you. Not to mention what this criminal act does to the economy. Watch our tax dollars shelled out to help the TBTF again. The only one whom learns a lesson is the victims. Rent motorhomes. Not houses.

  3. THEN YOU WILL ALREADY BE IN YOUR AUTOS AND COMFY! AND MOBILE! AND THE RENTAL OF YOUR STOLEN HOMES WILL FAIL.

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