A Big Appetite for Small Loans Multi-Housing News Online - Marc Schillinger, vice president at George Smith Partners and a specialist in small multifamily loans, says that he receives phone calls day and night from banks that are “trying to get money out and get it out fast” asking for suggestions … NAR: All Commercial Real [...]
As someone who spends most of his time on Freddie Mac and Fannie Mae multifamily loans I am always getting asked about the future of Freddie and Fannie’s multifamily business. Usually I tell people I don’t know what will happen, but that it won’t happen for a few years. Its Congress that must make the decision and until after the election nothing substantive will happen. Also, the housing crisis is still so bad that the government can’t realy do anything with the agency lenders now.
Just got a loan, but do you really know how your lender calculates your monthly payment and amortization schedule? It’s not as simple as you think. In fact your lender may be calculating your payment differently than you expect or know.
You hear a lot today that, with the exception of FHA-HUD, the GSE lenders (Freddie Mac and Fannie Mae) are the best lenders in today’s multifamily market. This isn’t really true, but its often said. However, with the exception of a sales call, there’s very little discussion of the best way to access GSE capital. [...]
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 [...]