Articles

America’s Aging Rental Stock is Driving Demand for Smarter Capital Solutions

The nation’s rental housing is older than at any point on record, with a median age of 45 years, according to the 2026 America’s Rental Housing report from Harvard’s Joint Center for Housing Studies (JCHS). America’s aging housing stock has created unique opportunities as the need for capital investments to rehabilitate and preserve affordable housing units rapidly rises.

Current Reports

Single-Family Rental Investment Trends Report Q1 2026

Arbor’s Single-Family Rental Investment Trends Report Q1 2026, developed in partnership with Chandan Economics, spotlights how market shifts, including the rising cost of living and historically high build-to-rent activity, have fueled record rental household growth.

Articles

Top Markets for Multifamily Building Permits

Multifamily permitting trends indicate continued national stability amid local recalibration. Across the country, issuances were steady, rising just 2.6% in 2025. At the metropolitan level, trends diverged sharply, with some markets accelerating and others pulling back. Per-capita leaders continued to cluster around high-growth Sun Belt and regional hubs, while year-over-year market-level fluctuations suggest that more pipelines have become increasingly selective and, in some cases, more concentrated in large-scale projects.

Articles

Seven Facts About FHA Multifamily Loans

The Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD), is one of the largest mortgage insurers in the world. The agency insures mortgages on affordable housing, multifamily properties, single-family homes, and healthcare facilities. Since 1934,  FHA has financed over 50,000 multifamily mortgages nationwide. Whether you’re interested in acquiring, refinancing, or rehabilitating an affordable housing property, FHA multifamily loans are a financing route you need to know about.

FHA 232/223(f)

FHA® 232/223(f): Healthcare Refinance, Acquisition or Mod Rehab  

Articles

Top States for Population Growth

Despite a national slowdown, population growth remained concentrated in a small group of states in 2025, where strong net domestic migration inflows, economic opportunity, and in some cases elevated birth rates drove the annual increases. Overall, 14 states had an annual population growth rate above 0.75%, while 12 states had less than 0.1%, according to a Chandan Economics analysis of the U.S. Census Bureau’s 2024 American Community Survey.

Articles

Arbor’s Build-to-Rent Financing: 10 Reasons to Choose a Premier Lender

Build-to-rent (BTR), a compelling solution to the U.S. housing market’s evolving needs, is experiencing record growth. BTR accounted for 8% of all single-family rental (SFR) construction starts in the 12 months that ended in the first quarter of 2024, according to Arbor’s Single-Family Rental Investment Trends Report Q2 2024. As the need for quality rental units remains high, borrowers have much to gain from partnering with an experienced lender who specializes in build-to-rent financing.

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Home | Senior Team | Stephen Liotta

Stephen Liotta

Senior Vice President, Controller
Stephen Liotta is responsible for accounting operations for all Arbor entities, as well as internal control compliance with Sarbanes-Oxley, and coordination with internal and external auditors.
 
Mr. Liotta has more than 30 years of experience in the commercial real estate and financial services industries and joined Arbor in 2008 as Controller. Prior to Arbor, he held Assistant Controller and expense management roles at American Home Mortgage, AXA Financial, and GreenPoint Financial.
 
Mr. Liotta holds a Bachelor of Arts in Business Administration in Accounting and Finance from Queens College, City University of New York. 

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