Change is Hard
THE FEDERAL HOUSING Administration (FHA) has become the most prolific and popular construction debt source since the advent of the credit crunch.
Praying for Cranes
For many affordable housing lenders, 2009 will be remembered as a year not worth remembering.
THE MEZZANINE FINANCING market is heating up.
Conduit Shops Open, But GSEs Still Dominate
Several conduit lenders, including JPMorgan Chase, Deutsche Bank, and Goldman Sachs are cautiously re-opening their CMBS platforms, even as the market struggles with record-breaking delinquency rates.
FHA Bombshell: We're Tightening Our Underwriting
The FHA has become the most prolific and popular construction debt source since the advent of the credit crunch. But the agency has unveiled proposed changes to its Sec. 221(d)(4) and Sec. 223(f) programs which could make it much harder for developers to gain access to those programs, according to...
The Top 10 Affordable Housing Lenders of 2009
Bank of America claims the leadership position on Affordable Housing Finance's exclusive Top Lenders survey, leaping over Citi Community Capital for the first time in our third annual installment. In all, 2009 was an extremely challenging year, as nine of the top 10 lenders saw declines due to the...
CPC, IBM Team Up on Construction Financing Software
The Community Preservation Corp. has partnered with IBM on a new construction loan program that should help borrowers get thier money more quickly. The companies are planning to bring the software to market with the hope that the software will make it more feasible for more lenders to offer...
Driven by Refis, Some Affordable Housing Lenders Expand
Many of the affordable housing industry's largest lenders struggled through 2009 with significant declines in originations. But some smaller, more nimble organizations actually saw increases last year, mainly due to an increase in refinancing volume.
Affordable Housing's Bottleneck is Lack of Construction Debt
As the tax-credit exchange program continues to gather steam, many developers find that the biggest impediment to breaking ground is finding the debt.
Five Tips for Winning FHA Approval on a New Construction Deal
Compared to what’s being offered in the private sector, the rates and terms of the Federal Housing Administration’s (FHA) Sec. 221(d)(4) program for new construction loans are more than attractive. Loan-to-cost ratios can reach up to 90 percen