Best Practices, Underwriting Issues and Policy

Slides:

Advertisements

Similar presentations

The Challenges Facing Today’s Mortgage Market Presented by Lori Stillwell.

Advertisements

UNDERWRITING AND FINANCING RESIDENTIAL PROPERTIES Chapter Objectives

© 2005 The McGraw-Hill Companies, Inc., All Rights Reserved McGraw-Hill/Irwin Slide 1 CHAPTER EIGHT UNDERWRITING AND FINANCING RESIDENTIAL PROPERTIES.

FHA - Serving the American Homebuyer Since 1934 Marketing Programs to First Time Homebuyers Kenneth J. Lobene Office Director, Las Vegas HUD Office Lorraine.

Neighborhood Stabilization Program (NSP) Orange County, Florida.

Mortgage Credit Panel Discussion 2014 Midwest Lenders Conference Chicago, Illinois * June 16-18, 2014 Moderator: Rick Sherman, Berkadia Panelists:Kelly.

Navigating your entitlement to buy and/or sell a residence under Permanent Change of Station orders.

Energy Efficiency Recent Updates and Highlights Prepared by Eileen Hearty, Project Manager Office of Asset Management – Denver Multifamily Hub.

Affordable Housing & the 223(f) Low- Income Housing Tax Credit (LIHTC) Pilot Program Recent Updates and Highlights Prepared by Laura Stutzman, Senior Underwriter.

Low-Income Housing Tax Credit Section 221(d)(4) Sub Rehab AKA “The Pilot Outside the Pilot” A LOOK TOWARDS THE FUTURE… Prepared by Larry Fergison, Chief.

Joe Crisafulli, Boston Hub Director NCSHA Conference 10/20/14 1.

Affordable Housing Preservation Summit An Overview of Financing and Servicing Options. Wells Fargo Bank Reine Yazbeck.

FHA L OW I NCOME H OUSING T AX C REDIT P ILOT P ROGRAM SMAC Conference May 30,

FHA Lending & RAD Susan Hall, CEO of HCM Sheri Davis, Deputy Chief UW of HCM July 30, 2014 Highland Commercial Mortgage

Tax Credit Pilot Case Studies Midwest Lender’s Conference – June 2013.

1 of 14 Real Estate Law, 8th Ed. by Marianne M. Jennings Chapter 16 Closing the Deal.

1 Green Initiative & Green Refinance Plus Fannie Mae Multifamily October 12, 2011.

Single Family Housing Programs Joyce Allen Deputy Administrator for Single Family Housing September 26, 2015.

Villa Santa Fe Santa Barbara, CA LIHTC PILOT SAMPLE TRANSACTION.

1 Hot Topics Mary AndersonHUD Chicago Cortney MauldinLove Funding Ed TellingsRED Mortgage Capital MIDWEST LENDERS CONFERENCE June 18 th 2013.

ENERGY STAR Webinar: Energy Efficient Mortgages (EEMs) 101 Brian Ng Lender Partnership Coordinator ENERGY STAR for Homes U.S Environmental Protection Agency.

Ancient History FHA FHA ,987 loans 3,180,693 units about 61,000 units/year.

Tax Exempt Bond Options In North Carolina. Two Tax Exempt Bond Programs – Acquisition/Mod-Rehab Deals FHA 223(f) LIHTC Pilot – New Construction/Substantial.

SBA Lending Division SBA Lending Division October 2015.

Multifamily Financing Frontiers FFB Risk Sharing Karen E. Kelleher NCSHA Annual Conference & Showplace Nashville, September 28, 2015.

Mary Anderson Production Division Director Multifamily Midwest Region.

Residential Energy Efficiency Policy for Existing Homes Kara Saul-Rinaldi Vice President of Policy & Government Affairs, Home Performance Coalition Government.

AFFORDABLE MULTIFAMILY ENERGY EFFICIENCY FINANCING NEEP 2016 Regional Multifamily Leadership Group Summit, June 23, 2016 Chris Kramer, Energy Futures Group.

Investment Program Overview

Compliance Challenges in the RAD Portfolio June 22, 2017

LIHTC Loan Processing and the New Chapter 14

Getting Your HUD Deal Closed (On Time!)

Finance Lesson Five.

U.S. Department of Housing & Urban Development

Project Showcase: Seward Towers

HUD FUNDING OPPORTUNITIES

MidWest Lenders Conference September 27, 2017

Midwest Lenders’ Conference July 6, 2016 Dan Sullivan, Acting Director Multifamily Production, HUD HQ.

Daniel Burke, Regional Center Director, Multifamily Midwest Region

Federal Financing Bank Participation

Midwest Regional update: LIHTC Pilot and RAD

WMAC Conference September 18, 2017

Using HUD's CNA e-Tool for RAD Transactions

Mortgage Bankers Association

Presented By: Karen Fortin Danny Gordon

IN HUD MULTIFAMILY LOANS

MBA LIHTC Committee Update

Data Integrity Western Lenders Conference September 19th, 2018

National Housing & Rehabilitation Association Summer Institute

NALHFA 2017 Fall Finance Workshop

Presented by: Dove Realty Sharon Amey Owner, Broker

The Development Team Texas Rural Rental Housing Preservation Academy Session #4 June 6 – Start w/ brief overview of Greystone – who we are and what.

US Department of Housing and Urban Development

MULTIFAMILY CLOSING & SERVICING

Midwest Lenders Annual Conference

Data Integrity Midwest Lenders Conference September 6th, 2018

2018 Midwestern Lender’s Conference 221(d)(4) Panel

MBA LIHTC Committee Update

Multifamily Midwest Region

2018 Midwestern Lender’s Conference 221(d)(4) Panel

Virginia Affordable Housing Title Services 101

Working with HUD as a Lender

Multifamily Production Update

CCM Product Guidelines

Midwest Lenders 16th Annual Conference Opportunity Zone Panel

Midwest Lenders Conference Office of MF Production

Multifamily Midwest Region

Multifamily Midwest Region

20th Annual WMAC Conference LIHTC & D4 Pilot Update

FDIC Affordable Mortgage Resources FDIC’s Affordable Mortgage Lending Guide & Center Victor Galloway.

Presentation transcript:

Best Practices, Underwriting Issues and Policy Moderated by: Panelists: Rick Sherman Chief Underwriter PGIM Real Estate Finance Steve Ott Production Division Direction – Multifamily Midwest Region Chicago HUD Chris Nielsen Branch Chief – Underwriter Branch 3 Detroit HUD Mike Bisanz Vice President & Deputy Chief FHA Underwriter Dougherty Mortgage LLC

Changes during the process and review Best Practices Changes during the process and review Quality of submission leads to efficiency on timing. Quick submission does not necessarily lead to quality Communication and being partners Waivers

Upcoming 3 year waiver change Seasoning Loan Parameters Stabilized Underwriting the un-stabilized deal FHA vs Agency

Concept Meetings Sponsor – present at the meeting Transactions not concepted = more issues later Brief anatomy of a quality concept meeting

Mortgage Credit Sponsors/Principals – vet early Like kind experience – size/scope Surrounding inexperience Sponsor with other disciplines (doesn’t necessarily meet the requirements) Management Agent General Contractor/Architect

223(f) – Heavy Repairs (where are the repairs going?) How close to a d(4) SR? Value added?

Affordable Aggressive RCS Chapter 15 Renewals

Misc. Lender Perspective Promoting the FHA-insured product Welcome call and Weekly call (pilot through Minneapolis)-successful Environmental SHPO Early Start Lender Metrics Green MIP

Questions & Comments