Press Releases

Arbor’s Servicer Ratings Affirmed and Positive Outlook Rating Assigned by Fitch

Fitch Ratings Recognizes Arbor’s Commitment to Excellence and Innovation Arbor Realty Trust (NYSE:ABR) NEW YORK, NEW YORK – November 29, 2023: Fitch Ratings has reaffirmed Arbor Multifamily Lending, LLC’s (Arbor) commercial primary and special servicer ratings, further solidifying Arbor’s position as a trusted partner in the multifamily lending industry. Concurrently, they have assigned a Positive Outlook to each rating, reflecting an unwavering commitment to excellence and innovation. Commercial primary servicer rating at ‘CPS2’; Outlook Positive; Commercial special servicer rating at ‘CSS3+’; Outlook Positive. “The assignment of the Positive Outlook reflects Fitch’s 12–24 month view on the trajectory of Arbor’s primary servicer rating, noting that as the new borrower website is fully realized and deployed and turnover within the primary servicing function continues to stabilize, positive rating movement is possible.” – Fitch Ratings Read more from Fitch about the key rating drivers behind this announcement. Direct inquiries to [email protected]. About Arbor Arbor Realty Trust, Inc. (NYSE: ABR) is a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental (SFR) portfolios, and other diverse commercial Read the full article…

Articles

Video: Special Report Fall 2023 Key Takeaways

In this video, Dr. Sam Chandan, Founding Director of the C.H. Chen Institute for Global Real Estate Finance at the NYU Stern School of Business and non-executive chairman of Chandan Economics, details the key takeaways of Arbor’s Special Report Fall 2023, which he co-authored with Ivan Kaufman, Chairman and CEO of Arbor Realty Trust.

Articles

FHFA Loan Caps for 2024: What Multifamily Borrowers Need to Know

The Federal Housing Finance Agency (FHFA) announced a $10 billion rollback of Fannie Mae and Freddie Mac’s volume cap for loan purchases for 2023 to $140 billion ($70 billion for each agency). This move aligns with industry expectations, given the anticipation of continued headwinds for the multifamily in 2024. Next year’s cap for the Government-Sponsored Entities (GSEs) is a reduction of approximately 7% from the $150 billion limit set for 2023 and a return to the level it was in 2021.

Current Reports

Affordable Housing Trends Report Fall 2023

With the cost of living climbing, the need for affordable housing has become more urgent. Although demand continues to outpace available supply, multifamily investment in affordable housing is fortified by Low-Income Housing Tax Credits (LIHTC), Project-Based Section 8, and the Housing Choice Voucher (HCV) programs. Arbor’s Affordable Housing Trends Report Fall 2023, developed in partnership with Chandan Economics, examines the supply-driven programs and policies designed to improve supply at a point in time when federal gridlock has stalled many funding increases.

Current Reports

Small Multifamily Investment Trends Report Q4 2023

Arbor’s Small Multifamily Investment Trends Report Q4 2023, developed in partnership with Chandan Economics, is a snapshot of a strong and resilient subsector continuing to navigate ongoing market dislocation. The report shows that distress has remained limited, even with valuations and measures of risk pricing in flux. As conditions start to stabilize, there are signs that deal activity is picking up.

GENERAL: 800.ARBOR.10

FANNIE MAE DUS®

Supplemental

Whether your Arbor Fannie Mae loan was executed on a market rate or affordable property, under the Forward Commitment or Small Loans program, or on a cooperative complex or student-based property, you are eligible for a supplemental loan under the Fannie Mae DUS program.

Loan Amount $1,000,000 minimum
Loan Term 5 to 30 years, coterminous or non-coterminous
Amortization Up to 30 years
Interest Type Fixed- or variable-rate options available
Requirements
  • Arbor must be the servicer of the existing Fannie Mae fixed-rate or adjustable-rate mortgage loan
  • Supplemental loans are available 12 months after the closing of the senior Fannie Mae mortgage loan
Eligible Asset Classes
  • Stabilized Conventional
  • Multifamily Affordable Housing
  • Student Housing
  • Seniors Housing
  • Manufactured Housing Communities
Limitations
  • One Supplemental loan is permitted during the term of the first mortgage lien; however, an additional supplemental loan may be placed if the preexisting debt is assumed through an arms-length acquisition
  • Preexisting Fannie Mae debt may not have less than five years until maturity
Underwriting
  • Appraisal, Property Condition Assessment, and Phase I Environmental update are required
  • Funding of replacement reserves will match the preexisting level unless an increase is required after review of the Property Condition Assessment
  • A new title insurance policy is required
  • No new survey is required provided the title meets legal requirements
Minimum DSCR As low as 1.30x, depending upon asset class and use of proceeds
Maximum LTV As high as 75%, depending upon asset class and use of proceeds
Prepayment Yield maintenance or defeasance
Accrual 30/360 and actual/360
Rate Lock 30- to 180- day commitments; borrowers may lock a rate with the Streamlined Rate Lock option
Recourse Nonrecourse execution with standard carve-outs for “bad acts” such as fraud or bankruptcy
Assumable Subject to approval and 1% fee (nonrecourse loans only)
Application Fee Deposit $20,500; covers estimated processing and legal fees

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