I read about it half way through my first coffee this morning and did not make the connection
until I saw CalculatedRisk's comment this evening - Franklin Bank is Lewis Ranieri's bank, and it got SHUT DOWN this weekend. His firm AFR (own bank branches and financial buildings and lease back to tenants) has also had some issues in recent years.
As most anyone reading this obscure blog will already know, this guy is the original greasy-cheeseburger-eating-BSD in Michael Lewis' Liar's Poker.
There is AFR exposure in CMBS deals, one deal was solely AFR collateral, and there are a few smaller portfolios. Not sure of Franklin Bank exposure, but I don't believe it had a huge footprint. The Bloomberg article indicates its downfall was loans to developers both development and construction, and raw land loans.
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