Finance & Investment
Fannie Mae Releases Major Study on Multifamily Energy Use
Fannie Mae released a major new report on energy usage in the multifamily sector called “Transforming Multifamily Housing: Fannie Mae’s Green Initiative and Energy Star for Multifamily.”
TODAY’S DEALS: Landmark Apartment Trust Completes 342-Unit Orlando Acquisition
Landmark Apartment Trust buys a 2002-built apartment in Orlando; Chaucer Creek acquires a community in Charlotte’s ‘hippest’ neighborhood; and Colorado investor acquires a property from Fannie Mae.
Housing Crunch
Raising the Low Income Housing Tax Credit cap could mean more production opportunities for developers.
First Affordable Housing Loan Closed Under New Freddie Mac Program
Freddie Mac’s new Direct Purchase of Tax-Exempt Loans initiative, the goal of which is to keep rental housing affordable for lower-income families and lower costs involved with financing for tax exempt multifamily properties, has closed its first loan.
Dominium to Upgrade Recently Acquired Affordable Housing Community
Minneapolis-based affordable housing development and management company Dominium has announced that it has acquired a 172-unit community in Saint Paul, Minn.
TODAY’S DEALS: Kennedy Wilson Acquires 118 Units South of Seattle
Kennedy Wilson completes a $20.8 million acquisition in Turnwater, Wash.; Hunt Mortgage Group refinances an affordable seniors asset in Pennsylvania; and NorthMarq Capital arranges a seven-year, $22.8 million acquisition loan.
Economy Watch: Federal Deficit Continues to Shrink
The Congressional Budget Office estimated that the federal budget deficit for the fiscal year of 2014 (which ends Sept. 30) will amount to $506 billion, or about $170 billion lower than the shortfall in 2013.
U.S. Mortgage Delinquencies Dropped, According to TransUnion
In its latest mortgage report, financial data specialist TransUnion says that U.S. mortgage delinquencies have dropped for the 10th consecutive quarter to 3.46 percent at the end of the second quarter of 2014. In the third quarter of 2013, the delinquency rate was 4.32 percent.
Borrowers Could Face Difficulty Repaying Home Equity Loans
Now that borrowers have to start repaying home equity lines of credits, lenders are fearing a wave of defaults.
APARTMENT MARKET STATISTICS: August 2014
The three-month moving average of multifamily housing starts now exceeds the average recorded between 2000 and 2007, according to the National Association of Home Builders.