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September 29, 2017  

Probed Developer Active in CMBS

A developer under scrutiny by the FBI over his loan practices has borrowed at least $1.6 billion from conduit shops and Freddie Mac, according to a preliminary tally by Kroll.The rating agency has identified 142 loans either sponsored by the developer, Robert C. Morgan, or backed by properties controlled by one of his companies, Morgan Communities of Pittsford, N.Y. The collateral primarily consists of multi-family and self-storage properties.Two...

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