A whole new ballgame for Bando McGlocklin. (Bando McGlocklin Capital Corp. to sell mortgage-backed securities)

Investment firm awaits regulatory approval of new capital-raising tool: sales of mortgage-backed securities

Bando McGlocklin Capital Corp. hopes to raise at least $20 million, possibly by going public with a mortgage-backed real estate investment trust, as it pursues a restructuring that is expected to dramatically change the Brookfield company.

But first, sometime within the next 90 days, shareholders will consider plans for a holding company that would oversee the small-business investment company and other capital-raising entities Bando McGlocklin plans to unveil.

"What we're going to do will allow us to securitize our loan portfolio," said George Schonath, president. "This is a whole …