Two Ways to Improve the 223 (f) Program

Two ways to improve the 223 (f) program that would really extend its usage and help the residents the loan intends to serve  When I left the RTC in 1996 to go back into FHA Multifamily lending, one of my guideposts was Proverbs 19:17, which reads:  “He who helps the...

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Falling FHA Multifamily Mortgage Rates?

Will Economic Indicators Affect FHA Multifamily Mortgage Rates? Today the Jobs report stated that 148,000 non-farms jobs were added in September when the consensus expectation was 185,000 jobs were to be added.  This gap has led the 10 year Treasury yields to drop...

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Spreads

In the last month and a half, interest rates have spiked, stabilized and come down some.  The question is, why haven’t FHA Multifamily rates come down more?  This brings up how the markets work and how the Fed can raise rates without raising rates themselves. As I...

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When Will the Fed’s Tapering Kick In?

Yesterday Chairman Ben Bernanke announced that the U.S. economy is improving and the unemployment rate should accelerate downwards towards a 6.5% level this year. This benchmark is important as the timetable when the Federal government will begin tapering its...

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Why Do FHA 221 (d) 4 Loans Take So Long?

Everybody loves the terms of an FHA deal:  high-leveraged, fixed rate, assumable, non-recourse fully amortizing financing for 35-40 years. Terms like that went out with right on, power to the people, make love not war, and Gas-$.53/gallon.  I must confess that I still...

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FHA Apartment Loan Financing

While the final numbers are not yet in on the FHA Apartment Loan financings for fiscal year 2012, through 11 months, the results are as follows: Firm Commitments: 2,073 versus 1,669 for FY 2011 221 (d) 4 Apartment loans (New Construction and Substantial...

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Should I Get Busy & Refinance My Apartments?

Over the last two years, Ben Bernanke has provided comfort to the mortgage market and real estate owners regarding the low, sustained interest rates we could count on, first through 2013 and now into 2014. My cynicism at first was heightened.  I kept thinking that...

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