Analysis

U.S. Multifamily Market Snapshot — August 2025

The U.S. multifamily market stood on the cusp of a new cycle at the halfway point of 2025, as demand continued to be driven by favorable demographic trends and a structural need for housing.

Articles

Small Multifamily Continues Steady Price Growth

Small multifamily valuations realized positive year-over-year growth in the second quarter of 2025, demonstrating the sector’s ongoing resilience in an unsettled economic environment. Steady rent growth, improving operating expense ratios, and stable cap rates helped move price growth into positive territory.

Articles

Metro-Level SFR Rent Growth Trends in the First Half of 2025

Albany, NY, and many other affordable mid-sized metropolitan statistical areas (MSAs) outpaced the national rent growth average for single-family rental (SFR) properties in the first half of 2025, according to an analysis of Zillow’s Observed Rent Index, which tracks the 100 largest markets in the U.S.

Articles

Larger Buildings and Smaller Units: How New Multifamily Completions Continue to Evolve

Driven by high construction costs, land constraints, and rental affordability, developers are increasingly prioritizing smaller units in higher-density multifamily properties. Utilizing data from the U.S. Census Bureau’s annual Survey of Construction, the research teams at Chandan Economics and Arbor Realty Trust have analyzed how the characteristics of new multifamily properties continue to evolve.

Finance

10 Items to Have on Hand for the Fastest Financing Possible

In today’s constantly evolving market environment, partnering with a lender that can balance prioritizing speed of execution with tailored solutions makes all the difference in securing the financing you need. Arbor’s experience, expertise, and innovation, combined with our willingness to understand each deal and work to make it successful, set us apart from other multifamily lenders. In our more than three decades of closing deals, we’ve found that having these 10 items on hand at the beginning of your borrowing journey helps prevent roadblocks and streamlines the entire financing process.

Articles

Markets Where the Share of Renters is Highest

The U.S. housing market reflects a patchwork of local needs, preferences, and geographies, creating distinct storylines. Across the country, many significant shifts have occurred over the last five years, an analysis of U.S. Census Bureau data shows. More expensive housing markets tend to support higher percentages of rental households, and in fast-growing metros, rentals have become a highly effective and flexible way to house new residents.

General: 800.ARBOR.10

Home | Senior Team | Thomas Montemage

Thomas Montemage

Senior Vice President, Risk Management

Thomas Montemage is responsible for the direct oversight of the Agency Risk Management department. This team performs the Special Servicing for Arbor’s Agency loans and primarily interacts with Fannie Mae’s Special Asset Management and Real Estate Owned groups as well as Freddie Mac SBL securitizations. He also oversees the primary servicing of Arbor’s Private Label securitizations, Fixed-Rate Single-Family Rentals, and Private Investment loans.

Before returning to Arbor in 2017, Mr. Montemage was a Vice President at M&T Bank Corporation, where he managed commercial credit risk teams that had direct oversight of the bank’s commercial loan portfolio. Prior to that role, he worked in Arbor’s Agency Portfolio Management and Loan Surveillance departments.

Mr. Montemage received a Bachelor of Science in Business Administration from the University of Buffalo, State University of New York, and a Master of Business Administration at St. Bonaventure University. He earned a Chartered Financial Analyst (CFA) designation in 2016.

Grow Your Career at Arbor

Arbor employs exceptional individuals with a strong foundation to achieve success in their career.

Careers