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Freddie Mac has started working on a new, "multisite" multifamily loan product, fresh on the heels of the federal REO-to-Rental program rollout.
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WASHINGTON, Jan. 24, 2012 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced that the company issued $7.2 billion multifamily MBS(1) in the fourth quarter of 2011, the highest quarterly issuance since Fannie Mae began reinvigorating its multifamily MBS business in 2009.
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Home Financing Stays Tough
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Las Vegas, Phoenix, and Miami have been lumped together as the poster children for distress, but each metro is climbing back up in its own way.
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Throughout the downturn, Phoenix and Las Vegas were linked together as poster children for distress, but Phoenix has pulled itself up by the bootstraps.
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Kushner Cos. re-entered the multifamily market this year with a 4,600-unit distressed-portfolio buy. And by the end of the year, the company expects to add thousands more units in similar deals.
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Ann Arbor., Mich.-based McKinley has developed a reputation for taking over troubled assets from banks over the past few years. It recently handled a Bethany portfolio from C3 Asset Management, and it’s working on another 1,110 units from servicer Helios AMC. Add in another an old Babcock & Brown...
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With $2 billion added in the second quarter of 2011, new additions to the distressed apartment pools have reached their lowest levels since the second quarter of 2008, according to the “Apartment Mid-Year in Review” report from New York-based research firm Real Capital Analytics (RCA).
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Renters and investors alike will find much to appreciate in the Garden State, which is enjoying accelerating job growth and other advantages as it emerges from the recession.