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Data connected to your loan might be included, though the article doesn't say how many people are affected: > “If you go down the top 20 banks, if you make com
by mmooss 1y ago
Data connected to your loan might be included, though the article doesn't say how many people are affected:
> “If you go down the top 20 banks, if you make commercial real estate and residential loans, you probably have a relationship with Situs,” said Jon Winick, the chief executive of Clark Street Capital
And notice that the data is market-moving - someone could make a lot of money by trading on this information.
> Among the services SitusAMC offers is regulatory compliance — the boring but essential work of making sure its customers’ loans comply with a plethora of state and federal regulations.
> That means it has extensive nonpublic information on the banks’ internal workings. For instance, it could have information on the risks in lenders’ real estate holdings, said Jason E. Kuwayama, a lawyer who specializes in regulatory issues for banks.