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Prudential Mortgage Capital shut down its conduit operations in 2008, but the firm is now ready to jump back in through a joint venture with Perella Weinberg Partners.
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Many Fannie, Freddie, and FHA lenders are now building up thier life company correspondent relationships both to offer customers more choices, and to protect themselves against the uncertainty surrounding the GSEs.
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Over the past month, both Berkadia and Walker & Dunlop made moves to tie loan originations to investment sales platforms, following the lead of Wells Fargo and CWCapital.
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Wells Fargo was the most prolific multifamily lender in 2010 for the second year in a row, nearly doubling the volume of No. 2-ranked CBRE Capital Markets.
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Unlike this time last year, borrowers have more options on permanent debt, as life insurance companies, banks, and even conduits start to give the GSEs a run for their money.
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But its latest lending criteria make supporting market-rate rental a challenge.
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Even a great credit rating won’t exempt most home buyers from Fannie Mae’s and Freddie Mac’s updated risk fees.
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The biggest wedge issue in the debate over what to do with Fannie Mae and Freddie Mac is to what degree the federal government should be involved in the next generation of housing finance entities.
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Even though Washington, D.C.’s economy is driven in large part by the federal government, when it comes to multifamily deals, the government entities Fannie Mae and Freddie Mac, are often losing out.
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Cash-crunched apartment owners that may have skimped on essential repairs over the past couple of years now have a new opponent to contend with. In addition to complaining residents, banks are also asking owners to step up and fix on-site problems.
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Banks and life insurance companies are increasingly muscling in on Fannie Mae and Freddie Mac as private sector lending activity accelerates.
With lenders more willing to negotiate than ever before, here's a look at six things you need to know before you negotiate your loans.
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For more than a year now, multifamily equity funds, owners, and brokers have complained about the “extend and pretend” policy in the banking industry that have allowed owners with troubled loans to keep their assets. Yesterday, at the 2010 ULI Fall Meeting, Shelia Bair, Sheila Bair, chairman of the...
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Part of the reason for the uptick in sales out of receivership have been recent court decisions (including the Bethany Group sale) regarding the legality of receiver sales, which some states specifically allow, other states specifically do not, and still other states remain silent on.
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Some of the FHA's multifamily programs haven't seen changes in more than 40 years. So, in announcing new leverage and debt service levels, the FHA took the opportunity to enact a slew of other changes, and propose a few more.
The FHA recently unveiled sweeping changes to its multifamily program, tweaking the underwriting standards on new construction and refinancing deals, while unveiling a slew of risk-management initiatives that may expand its already long transaction timeline.
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National and regional banks are slowly starting to provide construction debt again, but they're only opening the balance sheet to those with whom they have an existing or potential long-term relationship.
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Fannie Mae's small laon program recently loosened some underwriting criteria and is offering standard 10-year deals at around 5.75 percent, and seven-year pricing is in the mid-5 percent range. But it's on shorter-term loans where banks are undercutting Fannie Mae.
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Wells Fargo, the multifamily industry's largest lender, rejuvenates its bridge loan program, tying it to the company's agency permanent loan executions.
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Red Capital Group has come back to its roots as an entrepreneurial firm after being acquired by an investment group led by ORIX USA Corp. and Stonehenge Partners.