Thought You might be interested to know:
1. Freddie Mac recently announced Targeted Affordable Housing Express Program. This Program has Streamlined Costs. Eligible properties should be stabilized, with a loan of $10 million or less, and have at least one of these affordable characteristics:
- Tax abatement
- Section 8 vouchers
- HAP contract
- LIHTC properties in at least year 11 of compliance period
- Regulatory agreement that imposes rent/income restrictions
2. Fannie Mae Multifamily
While spreads did widen 8-10 bps compared to last Monday, the drop in the Treasury more than made up for it. Compared to last week’s rates which was issued with a 10-year at 3.07%, rates are down anywhere from 15-20 bps depending on the loan structure. They seem to have stabilized for the moment but as we all know, this can change rather quickly.
As always if you need updated rates or any market information feel free to give me a call.
Trillium Capital Resources