An Exculpatory Look at Syndicate Mortgages
Thursday October 24, 2019
We are pleased to share with you a website that provides an exculpatory, fact based, look at the structure of the syndicated mortgages that in part funded Fortress projects – https://anexculpatorylookatsmi.home.blog/
This website pulls back the curtains for all to see the evolution of documents and provides a detailed look at the robust disclosure documents that outline fees, risks, relationships and roles. These documents have stood up in front of a regulatory board (FSCO) and a supreme court judge (reviewed as part of a class action lawsuit) and now we are providing them to the public.
We hope that the information found within the website will provide clarity of the roles and fees within the syndicate structure. In addition, any question about disclosure and risks should be answered through the robust documentation provided to lenders.
Fortress has always maintained that the company did nothing wrong and while they continue to defend their stance, the company remains focused on bringing the projects in the portfolio to a positive conclusion.