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APARTMENT FINANCE TODAY
Editor Profile
Andre Shashaty, Editor
ashashaty@hanleywood.com
Cautious optimism. That's the consensus on the outlook for the apartment industry coming from the National Multi Housing Council's annual meeting and the Mortgage Bankers Association CREF/Multifamily Housing Convention this winter. Put the emphasis on cautious. The fact is, projections of home mortgage foreclosures and losses on mortgage-backed securities keep rising. Washington's quaint little "stimulus package" made lots of politicians feel like they did something, but that's about all it will achieve. And the Federal Reserve's cut in rates means little given the ever-widening credit spreads and a much tighter approach to underwriting by most lenders. The Fed's target rate is now 3 percent, down from 5.25 percent a year ago. According to bank survey data from Bankrate.com, the average 30-year fixed-rate mortgage rate was 5.96 percent on Feb. 13. One year ago, the mortgage index was 6.32 percent; four weeks ago, it was 5.75 percent.
That's not saying much for the benefits of Fed rate cutting on mortgage lending.

The AFT Index bounced back this session with all but two components in the index logging gains—defying national markets, which were flattened in the session despite two rate cuts by the Federal Reserve Board.
FULL ARTICLE

The mood at this year’s Mortgage Bankers Association CREF/Multifamily Housing Convention was one of concern, as the lack of investor confidence in the capital markets continues to slow the pace of business.
FULL ARTICLE

Johnson Capital stands out on APARTMENT FINANCE TODAY’s list of Top 50 Multifamily Lenders, because it stands alone. The company is one of the few, and one of the largest, independent lending shops in the nation, which is no small accomplishment in an industry beset by consolidation
FULL ARTICLE

AFT lists the Top 50 Multifamily Lenders according to data compiled over the last year.
SEE CHART

Small loans get easier with Fannie Mae.
FULL ARTICLE

The mortgage crisis and its resulting economic fallout are having mixed results on the multifamily industry, according to the National Multi Housing Council’s latest Quarterly Survey.
FULL ARTICLE

Builder materials suppliers are recording sharp profit losses amid the residential construction downturn, with the Dow Jones U.S. Building Materials index falling 18 percent over the past year.
FULL ARTICLE

Housing Policy
APARTMENT FINANCE TODAY wants to send the candidates for president a message about housing, and we need your help. Our initiative is called Americans for a New Federal Housing Commitment. We are gathering input to reach industrywide consensus on 10 policy objectives for the president in his or her first 100 days in office. We will also formulate 10 steps for the next secretary of the Department of Housing and Urban Development. Then, with your help, we’ll enlist support from opinion leaders across America—not just from housing, but also from business, the media, the faith community, civic and labor organizations, and so on. Click here to take the survey and share your input.
APARTMENT FINANCE TODAY FEBRUARY 2008
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HOUSING FINANCE BLOG

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To reach APARTMENT FINANCE TODAY Executive Editor Christine Serlin, please e-mail cserlin@hanleywood.com

To reach APARTMENT FINANCE TODAY online editor Jaime Windon, e-mail jwindon@hanleywood.com

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