If you haven't heard of Basel III, you've got company. International banking regulations aren't typical beach reading. But some people who have been poring through these new banking regulations are not looking happy.
Bob Broeksmit, CEO and president of the Mortgage Bankers Association, has been speaking out loudly against the rule and the trouble it will cause. "Basel III could be the end of bank real-estate finance as we know it," he said in a speech at the recent 2024 MBA Commercial/Multifamily Convention and Expo.
To better understand what is going on, let's address some of the obvious questions.
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