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Interest rates from Fannie Mae and Freddie Mac have fallen 50 basis points in August alone, reaching the mid-4 percent range on 10-year deals.
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The future hangs in the balance for the Property Assessed Clean Energy (PACE) program—one of the country’s most powerful financing mechanisms for residential energy-efficient improvements.
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Freddie Mac is transitioning its Targeted Affordable Housing program so that it can offer borrowers the option of using the Capital Markets Execution, which means lower rates on some affordable housing deals.
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Some of the FHA's multifamily programs haven't seen changes in more than 40 years. So, in announcing new leverage and debt service levels, the FHA took the opportunity to enact a slew of other changes, and propose a few more.
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The FHA recently unveiled sweeping changes to its multifamily program, tweaking the underwriting standards on new construction and refinancing deals, while unveiling a slew of risk-management initiatives that may expand its already long transaction timeline.