Chase Picks Up Where WaMu Left Off
Washington Mutual has been one of the most prolific lenders to the multifamily industry, originating at least $9 billion in debt annually for the last three years.
The Wall Street Player
Editor's Note: AFFORDABLE HOUSING FINANCEhas selected 15 outstanding industry leaders under the age of 40. These 15 individuals are being featured in the June, July, September, October, and November issues.
GSE Regulator Affirms Affordable Housing Commitment
The sudden government takeover of Fannie Mae and Freddie Mac raised concerns about the governmentsponsored enterprises’ (GSE) continuing support for affordable housing, and the new GSE regulator has tried to calm those fears by affirming their commitment to their basic mission.
Staying on the Sidelines
Although interest rates on variable-rate debt more than quadrupled in September as credit markets seized up, those in the market for taxexempt multifamily housing bonds expect rates to settle down in the coming months.
Affordable Housing Debt Grows Less Affordable
Freddie Mac is raising its price of debt for tax credit deals, both in permanent loans for 9 percent developments and credit enhancements of tax-exempt bonds.
Debt Up, LIHTCs Way Down
Fannie Mae invested $10 million in low-income housing tax credits (LIHTCs) through the first half of 2008, a precipitous drop from the $620.5 million mid-year 2007 mark, and just 1 percent of the $1 billion in investments registered through mid-year 2006.
For-Sale Housing from NMTCs
COLUMBUS, OHIO - Vacant houses in neighborhoods like American Addition and North of Broad here are getting a second chance, thanks to the New Markets Tax
Fannie Mae Rolls Out Refi Plus
Fannie Mae has finished developing Refi Plus, a portfolio retention tool that was introduced in July.
Sustainability Motto for Seniors Rehab
EAST BRADY, PA. - Acutting-edge financing model has funded the significant renovation of 79 units of seniors housing built nearly 30 years ago.
Parkhurst Transforms Troubled Site
APTOS, CALIF. - Parkhurst Terrace is a world away from the notorious trailers that were once parked on the same land and served as homes to many families.