Nov
06
AIG Mortgage Lending on Apartments Climbs by 20% to $5.2 Billion
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California, Massachusetts among states with increases
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CEO Hancock says AIG takes greater control in direct lending
American International Group Inc., the largest commercial insurer in the U.S. and Canada, has been increasing lending for apartments as the company seeks to counter low yields on publicly traded bonds and volatility from hedge fund holdings.
The loan exposure for multifamily properties climbed to $5.2 billion as of Sept. 30, up 20 percent from $4.35 billion on June 30, according to a regulatory filing late Thursday. The company said it is well positioned for mortgages because it can hold funds for years or decades to back insurance policies and doesn’t need to worry about having to exit positions in a hurry…
AIG Mortgage Lending on Apartments Climbs by 20% to $5.2 Billion
