Real Estate Finance Policy Memoranda

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Memo date
Date: 12-23-2025

… I. INTRODUCTION Prior to the COVID-19 state of emergency in March 2020, submissions to REF predominately were … system is impracticable and will cause unnecessary delay to both REF and sponsors while not providing additional … [New York State], any securities to be offered” without first having timely filed a broker-dealer or salesperson …