Many borrowers are facing a difficult time finding lenders interested in construction or rehabilitation loans right now. But multi-family owners with a need and desire to rehabilitate their multi-family properties are finding the HUD 221(d)4 program a viable alternative. “We direct clients with … [Read more...] about 8.26.10: Use HUD 221(d)4 Program for Multi-Family Rehab Loans
8.13.10: Business Owners Struggle as Lending Bill Stalls*
Rich Balka is hungry for capital. The Trenton, NJ entrepreneur whose company makes specialty rubber products, says he needs the money to buy raw materials, pay his workers and weather the last stretch of the recession. Balka’s sales fell 30% last year, forcing him to lay off one-third of his staff … [Read more...] about 8.13.10: Business Owners Struggle as Lending Bill Stalls*
8.11.10: SBA 504 Loan Interest Rate Drops Below 5% for Small Business Borrowers*
The Small Business Administration’s (SBA) 504 loan program is providing long-term, fixed-rate financing for the purchase of commercial real estate at one of the lowest interest rates since the program's inception. The SBA's lending partners, Certified Development Companies (CDCs), are busy working … [Read more...] about 8.11.10: SBA 504 Loan Interest Rate Drops Below 5% for Small Business Borrowers*
8.9.10: Demand Strong for Goldman’s CMBS Issue
According to Commercial Mortgage Alert, demand easily outstripped supply for the $788.5-million CMBS conduit issue from Goldman Sachs, Citigroup and Starwood Property that rolled out on August 4. The issue collateral consists of 23 mortgages secured by 40 properties. The majority of the collateral … [Read more...] about 8.9.10: Demand Strong for Goldman’s CMBS Issue
8.2.10: Thomas Wallace, President of IDS Corporation, Reports on HR 5297
On August 2, Tom Wallace, president of IDS Corporation, reported on the status of HR 5297, the Small Business Jobs and Credit Act of 2010. HR 5297, if passed, will create the Small Business Lending Fund Program and give the U.S. Secretary of the Treasury the authority to make capital investments in … [Read more...] about 8.2.10: Thomas Wallace, President of IDS Corporation, Reports on HR 5297
7.30.10: CMBS Prices Continue a Slow, Steady Climb
CMBS prices picked up about 45 basis points (bp) in July based on the change in spread for the benchmark CMBS bond, GSMS 2007-GG10 A4. At the beginning of July, the benchmark bond was trading at about 390 bp over swaps, while finishing the month at 345 bp over swaps. In fact, some of the better … [Read more...] about 7.30.10: CMBS Prices Continue a Slow, Steady Climb
CMBS Prices Grind Tighter: 2010 Outlook
CMBS prices have slowly tightened in the latter part of December 2009 as buyers continue to purchase senior investment grade CMBS that are eligible for financing under the government’s Term Asset-Backed Securities Loan Facility (TALF), which allows CMBS investors to leverage their CMBS returns. In … [Read more...] about CMBS Prices Grind Tighter: 2010 Outlook
Will 2010 Bring a Recovery in Lending?
“This year will likely be a turning point in the lending industry as the economic recovery takes hold,” believes Gary Unkel, a loan originator for ValueXpress. “The early part of 2010 will be led by government-sponsored lending programs, such as Fannie Mae and HUD for multifamily and the SBA 7(a) … [Read more...] about Will 2010 Bring a Recovery in Lending?
SBA 7(a) Loan Guarantee Prices Holding Steady at 109-110
According to a survey of its broker-dealers, ValueXpress reports SBA 7(a) guarantee prices holding steady at 109-110 for 25-year SBA 7(a) loans secured by real estate and priced at the Wall Street Prime Rate plus 2.75%, adjusted quarterly. The sale price provides a 1% servicing fee to the seller. … [Read more...] about SBA 7(a) Loan Guarantee Prices Holding Steady at 109-110
7.26.10: CMBS Conduit Loan Quotes Are Flowing
“ValueXpress is providing a significant amount of CMBS loan quotes to borrowers,” according to Gary Unkel, a loan originator for ValueXpress. “LTVs are now routinely 70%, up from 65% just 30 days ago.” ValueXpress is providing quotes on food- and drug-anchored shopping centers, big box shopping … [Read more...] about 7.26.10: CMBS Conduit Loan Quotes Are Flowing