The Investor Insights

We’re a nation of renters. That’s what the market is telling us. According to a report from MSNBC.com, “the number of houses occupied by renters rose faster than the pace of new vacancies created by homeowners moving out” (in the last quarter of 2011). Commerce Department data shows that rentals increased by 749,000 in the [...]

In July, FHA adopted new guidelines that lower the maximum loan to value (LTV) for multifamily market rate loans to 83.3%. Previously this was 85% for acquisition and refinancing on the 223 (f) program and 90% for new construction on the 221 (d)(4) program. Debt Service Coverage Ratios have been increased to 1.2 for market [...]

We got a glimmer of good news on the commercial lending side of the world from Marcus & Millichap Research… * Constraints on commercial real estate lending eased during the first half of 2010, a trend that should continue as more lenders re-enter the securitization market and life insurance companies pursue a broader range of [...]

By Jerry Ascierto HousingFinance.com Fannie Mae and Freddie Mac are getting tough on cash-out refinancings for multifamily borrowers. The government-sponsored enterprises (GSEs) are changing the way they underwrite cash-out refis, with Freddie Mac announcing stricter terms in January and Fannie Mae expected to tighten up in the coming days. A cash-out refinancing—when a property is [...]

Here’s the replay of the Apartment Investing class!