Ray Jones was quoted in an S&P Global Market Intelligence article about a government probe into tax credits for low-income housing.
"If you see a bank is consistently paying below the market rate for tax credits, that should be a red flag," Ray said. "The probe appears to allege there were inducements where the banks would make loans to make up the difference."
Ray, who has extensive experience with the financing of affordable housing deals, also said the probe appears to have little effect on overall demand for the tax credits.
"Any time you have credits, and corporations are making profits, there's a strong market for tax credits," Jones said. "I think the market is pretty good right now."
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