First Foundation With Two Wholly-owned Operating Subsidiaries, Announced The Reclassification Of A Portion Of Its Multifamily Portfolio Totaling $1.9B Principal Balance From Loans Held To Maturity To Loans Held For Sale
Portfolio Pulse from Benzinga Newsdesk
First Foundation has announced the reclassification of a portion of its multifamily portfolio, totaling $1.9 billion in principal balance, from loans held to maturity to loans held for sale.
October 03, 2024 | 11:01 am
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First Foundation has reclassified $1.9 billion of its multifamily portfolio from loans held to maturity to loans held for sale, which may impact its financial strategy and liquidity.
The reclassification of loans from held to maturity to held for sale suggests a shift in financial strategy, possibly to increase liquidity or respond to market conditions. This move could have implications for the company's balance sheet and future earnings, but the immediate impact on stock price is uncertain.
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