Ladder Capital Corp
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Financials : Mortgage Real Estate Investment Trusts (REITs) | Small Cap Value
Company profile

Ladder Capital Corp is a commercial real estate finance company. The Company's segments include loans, securities, real estate and corporate/other. The loans segment includes mortgage loan receivables held for investment (balance sheet loans) and mortgage loan receivables held for sale (conduit loans). The securities segment consists of all of its activities related to commercial real estate securities, which include investments in commercial mortgage-backed securities (CMBS) and United States Agency Securities. The real estate segment includes net leased properties, office buildings, a warehouse and condominium units. The Corporate/other segment includes the Company's investments in joint ventures, other asset management activities and operating expenses. The Company invests primarily in loans, securities and other interests in the United States commercial real estate, with a focus on senior secured assets.

Closing Price
$7.50
Day's Change
0.10 (1.35%)
Bid
--
Ask
--
B/A Size
--
Day's High
7.58
Day's Low
7.29
Volume
(Heavy Day)
Volume:
1,591,881

10-day average volume:
934,402
1,591,881

UPDATE: Global banks hit by new corruption allegations. Why authorities are unlikely to act this time

5:56 am ET September 22, 2020 (MarketWatch)
Print

By Pierre Briançon

Shares of European banks fell sharply on Monday, after the release by BuzzFeed and the International Consortium of Investigative Journalists of thousands of documents (https://www.buzzfeednews.com/article/jasonleopold/fincen-files-financial-scandal-criminal-networks?ref=bfnsplash) seemingly showing that some $2,000 billion worth of illicit funds were moved and laundered through the U.S. financial system over two decades.

- The papers show (https://www.icij.org/investigations/fincen-files/global-banks-defy-u-s-crackdowns-by-serving-oligarchs-criminals-and-terrorists/) that five global banks -- JPMorgan (JPM), HSBC, Standard Chartered Bank, Deutsche Bank (DBK.XE), and Bank of New York Mellon -- kept doing business with "oligarchs, criminals and terrorists" even after being fined by U.S. authorities for earlier failures to clamp down on dirty money. The banks themselves said they could not comment on specific transactions due to bank secrecy laws. Their statements can be found here (https://www.buzzfeednews.com/article/buzzfeednews/bank-responses-fincen-files).

- The reports are based on leaked suspicious activity reports (SARs) filed by banks and other financial firms with the U.S. Department of Treasury.

- Shares in British-Asian giant lender HSBC (HSBA.LN) and the U.K.'s Standard Chartered (STAN.LN) fell 6% and 5%, respectively, marking 20-year lows in London mid trading. HSBC said in a statement that "all of the information provided (...) is historical."

The outlook: The report, based mostly on past behavior already fined and sanctioned by U.S. authorities, is unlikely to trigger new punishments by governments or regulators. Especially not in a moment in the deepest of the coronavirus recession, when authorities are trying to convince and subsidize banks so they can keep lending to businesses and households. And even if legal grounds did exist in a few cases for authorities to act, regulators everywhere are likely to decide that punishment by markets is enough for now.

Read: U.K. edges closer to second national lockdown to help contain second coronavirus wave (http://www.marketwatch.com/story/uk-edges-closer-to-second-national-lockdown-to-help-contain-second-coronavirus-wave-2020-09-18)

-Pierre Briançon; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 22, 2020 05:56 ET (09:56 GMT)

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