Steve Rosenberg, founder and CEO of Greystone, says HUD and the GSEs also have aided multifamily refinance, which has been a very active sector this year, primarily because of sustained low interest rates.
“Some capital sources in the industry pulled back, but government-backed financing, such as Fannie Mae, Freddie Mac, and HUD, remained a stable source of qualified sponsors,” he says, adding that Greystone saw a 120% increase in HUD loan firm commitments this year and expects continued interest in this non-recourse, low-rate, and long-term permanent financing option.
Read more in Multifamily Executive.