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lewis ranieri
’Taxing times for MBS
Back in the 1980s — when Lewis Ranieri was still fighting for the legal status of MBS — something seminal happened for the mortgage securitisation market.
The Tax Reform Act was passed by the US in 1986,
Father figure of mortgage securitisation dies. No flowers.
Actually Lewie Ranieri isn’t dead. But the bank he formed when he left Salomon Brothers, Franklin Bank Corp, is:
Franklin Bank, S.S.B., Houston, Texas, was closed today by the Texas Department of Savings and Mortgage Lending,