An update on Multi-Family rates as of April 26 2012.
Last week I was at the Mortgage Bankers Association-Commercial Real Estate Forum, the big annual commercial real estate lenders conference. There was lots of discussion about loans coming due, larger life company allocations and the return (again) of CMBS. All of this was interesting but my biggest take away from CREF relates to the agency [...]
The question I get most asked is how does yield maintenance prepayment penalty work and should I be worried about it. This is especially true for borrowers who had previously borrowed from banks and are now looking at a loan from Freddie Mac or Fannie Mae. My short answer is that this is not something [...]
In the good old days, before the collapse of the CMBS market and partial failure of the banking system, interest only (I/O) loans were everywhere. Banks were offering them, Life Companies were offering them, and Conduits were putting them on practically every deal as were Freddie and Fannie. And it wasn’t only partial I/O, for [...]
Borrowers who never considered FHA/HUD are now being told they need a FHA/HUD 223 (f) loan. However, most borrowers, and brokers who are selling this product, don’t understand the issues relating to these loans. The 223 (f) is FHA/HUD’s acquisition/refinance program for conventional apartment projects. With limited sources for apartment financing today, this program is being [...]