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APARTMENT FINANCE TODAY
Jerry Ascierto
Jerry Ascierto,
Senior Editor
jascierto@hanleywood.com

For those of you tired of waiting for the private sector to kick into gear, the wait is over. Life insurance companies, banks, and even conduit lenders are growing increasingly active. That’s the good news. The bad news is that the agencies still back the lion’s share of the multifamily debt market.

With that in mind, we decided to focus this week on how the GSEs currently approach deals. Consider that Fannie Mae and Freddie Mac have loosened up their credit parameters recently, with Interest-Only terms routinely being offered, even as they continue to tighten up borrower
scrutiny
. And while the FHA is still the most viable construction lender these days, the process of getting a 221(d)(4) loan is no picnic, which is why we offer five tips to help you position your deal for approval.

I’m looking forward to the day when this newsletter doesn’t even mention the agencies, except to note that the private sector is winning market share away from them. Until then, I’ll continue to keep my fingers on the pulse of the agencies, while watching out for a more inclusive horizon


WEB EXCLUSIVES:
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.
FULL ARTICLE

GSEs Loosen Underwriting as Confidence Grows
Credit parameters are loosening at the government-sponsored enterprises (GSEs) after two years of continual tightening. The loosening seems to indicate a growing confidence on the part of Fannie Mae and Freddie Mac in the economy.
FULL ARTICLE

GSEs Tighten Up Borrower Scrutiny, Despite Looser Underwriting
A quirky dynamic is at play these days at the government-sponsored enterprises (GSEs)—borrower scrutiny is at an all-time high, even as credit conditions begin to loosen. In the past few months, interest-only loans re-emerged at the GSEs and are now being routinely offered.
FULL ARTICLE

NEW! MFE Virtual Conference. Register Today!

The industry is full of ideas and innovators. Hear from leading tech experts, executives, and consultants about how emerging technology trends will shape the future of multifamily—all from the comfort of your home or office. The event kicks off in June with a live keynote Webinar, plus access to half a dozen on-demand seminars. Register today!

Wells Fargo Dusts Off Bridge Loan Program
Wells Fargo, the multifamily industry’s largest lender, has rejuvenated its floating-rate bridge loan program for multifamily properties. The news comes fresh on the heels of a similar move from Prudential Mortgage Capital Co., as more institutional lenders see greater demand for, and grow more comfortable with, debt for transitional assets.
FULL ARTICLE

Landlords See Record-High Retention Rates
In late 2008, as the economy was quickly turning sour, the battle cry throughout the apartment business was to “keep heads in beds” at all costs. Now, a year-and-a-half later, it looks as though the industry was successful in doing just that.
FULL ARTICLE

Three Trends Driving Higher Retention Rates
Though many owners around the country have seen resident retention rates increase sharply over the past year, there isn’t a single reason as to why. Instead, there are a number of contributing factors, according to property managers and industry observers. Here’s a look at three key drivers of retention in the current market.
FULL ARTICLE

Download of the Week: E&S Ring's Ryan Schnobrich on E-Payments
In 2005, Culver City, Calif.-based E&S Ring Management was like a lot of regional apartment operators and fee managers: still struggling with rent collections and payment management using the tried-and-true method of paper check collection and manual deposits.
FULL ARTICLE

ebuild
AFT's March/April Digital Edition

Now available: Apartment Finance Today's newest flipbook edition! See the March/April 2010 issue as it appeared in print; search the entire issue by keyword; link specific pages to Facebook, Digg, and Delicious; and connect with advertisers. You can even save the issue hard drive for when you're not online. It's a 21st century take on an old-school experience.

Check Out HousingCrisis.com

Hanley Wood's HousingCrisis.com is a unique source about the real estate and construction economies with news, data, and conversation about your smartest options. We’ll highlight exclusive articles, related stories, and linked resources from across our publishing network -- in real-time -- so that you’ll have information you need, a step ahead of the moment you need it.
Go to HousingCrisis.com

APARTMENT FINANCE TODAY

Events/Announcements

2010 MFE Conference: Register Now!

Most experts say the bottom of the recession is here, and the future of multifamily is bright. But just how bright? Understand what lies ahead at the 2010 Multifamily Executive Conference, held Oct. 4-6, 2010, at the Bellagio in Las Vegas. There, you’ll find quality peer-to-peer education and networking opportunities to help you navigate the looming recovery. Register online today. 

Check our online calendar for upcoming events.

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Contact

To reach APARTMENT FINANCE TODAY Editor Shabnam Mogharabi, e-mail smogharabi@hanleywood.com

To reach APARTMENT FINANCE TODAY online Web Producer Spencer Markey,
e-mail smarkey@hanleywood.com

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