Will Interest Rates Rise 2017 Summer and Fall?

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In making plans for the rest of 2017 everyone in the mortgage business expects some volatility with interest rates. We believe rate hikes are in the near future due to mounting terror attacks, home sale declines due to lacking supply … Read More

House Way and Means New Tax Proposals

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From the staff at the MBA (Mortgage Bankers Association)  Summary of Select Provisions in Chairman Camp’s Tax Proposal that Relate to Commercial/Multifamily and Residential Real Estate Finance  February 2014  Introduction On February 26, House Ways and Means Chairman David Camp (R-MI) … Read More

HUD Reorganization

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Many people have asked “What does the HUD multifamily reorganization mean and how will it affect processing?”. We believe that this reorganization was needed and will help improve processing times by streamlining and identifying deals that need to go to … Read More

HUD Tries to reduce LEAN Processing Times:

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From HUD’s webmail: WE ARE REDUCING OUR UNDERWRITING QUEUES!!!! LENDERS CAN HELP We are quickly working our way through our underwriting queues, both in “prepping” projects while in our queues, and in the assignment of underwriters. As we move deeper … Read More

Big Developers Dabble in Apartment Market

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Wall Street Journal – By A.D. PRUITT And DAWN WOTAPKA Some of the leading U.S. developers of malls and office properties are moving into the apartment business, where demand for new projects is stronger than any other commercial-real-estate sector. Fueled … Read More

FHA MORTGAGE INSURANCE NOW

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FOR HOSPITAL REFINANCE AND ACQUISITION Since the inception of the hospital insurance program it could only be used for new construction or substantial rehabilitation projects. HUD is now allowing the refinance program subject to the rules of 242/223(f). Please call … Read More

IMPORTANT HUD PROCESSING CHANGES

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During February meetings with HUD staff we learned that there is a real push to reduce processing times for multifamily loans. HUD is taking a hard look at staff and offices that produce more loans with less staff than those … Read More