GSEs Open Space for New Loans
There’s good news on the GSE front, which has been having a record year. That’s why we’re excited to host Bisnow’s Dallas Multifamily Boom event on June 23 at the Hotel Intercontinental, starting at 7:30am.
Event panelist and Berkadia senior managing director Stuart Wernick (left, with Hunt Mortgage Group VP Colin Cross and Cadence McShane Construction president Will Hodges) tells us the agencies tapped the brakes a bit to help FHFA reassess what product should be eliminated from their allocated limits. The overall production volume cap of $30B hasn’t changed; however, FHFA has excluded even more targeted affordable housing in high and very high cost markets and some senior housing, in addition to manufactured housing communities, Stuart tells us. This opened up more space for new loans. These changes promote overall liquidity and encourage financing for affordable rental housing.
When he’s not securing funding for clients, Stuart makes movies. He’s anticipating the premiere of his second movie, which he helped produce. The film is yet to be named but scheduled for a fall opening. It's the sequel to Bad Kids Go To Hell (pictured), which is like Breakfast Club meets Friday the 13th, starring Sean Astin (for the Rudy and Lord of the Rings fans), Drake Bell (Nickelodeon fans), and Ben Browder (sci-fi fans of Farscape). Making films is pretty intense, fun, crazy, and provides an alternative creative outlet, he tells us. To learn more, please join us for Bisnow’s Dallas Multifamily Boom event on June 23 at the Hotel Intercontinental, starting at 7:30am. Sign up here!