Preserving Access to CRE Capital Act of 2016

[AI summary unavailable — showing source text] Preserving Access to CRE Capital Act of 2016 This bill amends the Securities Exchange Act of 1934 concerning credit risk retention standards for commercial real estate loans to revise the optional standard that may include retention of the first-loss position by a third-party purchaser that specifically negotiates for the purchase of that first loss position, holds adequate financial resources to back losses, provides due diligence on all individual assets in the pool before issuance of the asset-backed securities, and meets the same standards for risk retention as the federal banking agencies and the Securities and Exchange Commission (SEC) require of the securitizer. The revised specifications for retention of the first-loss position by a third-party purchaser shall mean the permissible risk retention of the first-loss position by a one or two party third-party purchaser, who may hold the retention obligation in either a senior-subordinate structure or pari passu (where two or more assets, securities, creditors or obligations are equally managed without any display of preference), as long as each party meets the requirements expressed above. The bill exempts from risk retention r…