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Welcome to Chatter! We’re happy to be your source for multifamily news, research and insight. Bookmark us and be sure to sign up for our weekly newsletter to stay on top of all things financing and investment for the multifamily industry. We also invite you to follow us on Twitter. What is Chatter? So what Read the full article…

Research

How Big is Small Cap Multifamily?

A closer look at the multifamily housing inventory in the United States and the size of the small cap investment opportunity.

Around the Web

Multifamily Forecast: Investors Moving to Secondary Markets

The apartment sector has remained the darling of the commercial real estate for the past six years. This doesn’t appear to be changing anytime soon, as 2016 is expected to set a new record for multifamily mortgage origination volume. While multifamily’s position as top dog remains uncontested, savvy investors are altering their strategy for sourcing Read the full article…

GENERAL: 800.ARBOR.10

FANNIE MAE DUS®

Cooperative Apartment Financing

Arbor’s Cooperative Apartment Financing program provides blanket mortgage financing for cooperative multifamily housing.

Loan Amount $750,000 minimum.
Loan Term 5 to 30 years.
Amortization Up to 30 years.
Minimum DSCR 1.0 for cooperative; 1.55 as market rental project.
Maximum LTV 55%
Rate Structure Fixed and adjustable rate options available.
Eligible Properties Cooperative projects, minimum five units.
Eligible Borrower Single Asset Cooperative Corporations.
Market Acceptance Property must be located in an area evidencing strong market acceptance of cooperative housing.
Occupancy Requirement 85% physical occupancy and 70% economic occupancy for 90 days prior to commitment date.
Tax & Insurance Escrows Monthly deposits required.
Replacement Reserve Underwritten at a minimum $250 per unit per annum.
Recourse Non-recourse execution available with standard carve-outs for “bad acts” such as fraud and bankruptcy.
Commercial Space Eligible
Required Reports Appraisal, Property Condition Assessment and Phase I Environmental.
Prepayment Loans may be voluntarily prepaid upon payment of yield maintenance.
Subordinate Financing Available through Fannie Mae Supplemental Loan Program.
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock 30- to 180- day commitments. Borrowers may lock a rate with the Streamlined Rate Lock option.
Application Deposit $20,500. Covers estimated processing and legal fees.
Origination Fee Minimum 1%. Par pricing available.
Good Faith Deposit 2% of loan amount, due at rate lock, refundable post-closing.

V082018

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