January 27, 2014

Rep. Takano Statement on Goldman Sachs-American Homes 4 Rent Bond Deal

Washington DC – Rep. Mark Takano issued the following statement after it was announced that American Homes 4 Rent, which is the second-largest single-family landlord in the nation, struck a deal with Goldman Sachs to arrange a bond backed by rental payments:
“The deal between Goldman Sachs and American Homes 4 Rent further illustrates the need for Congressional hearings and regulation on rental backed securities. This second deal shows a clear pattern for investment groups who are looking to gain from these questionable financial instruments and I hope that the House Financial Services Committee will take action on the letter I sent last week calling for oversight.”
Last week, Rep. Takano sent a letter to the House Financial Services Committee requesting hearings on rental backed securities and bulk investors like the Blackstone Group. Rep. Takano sent the letter after studying rental prices in California’s 41st Congressional District and issuing a report on the rising rental costs for his constituents.