Mortgage Banking

Making sense of commercial real estate finance.

Archive for September, 2008

All that’s going on…

Posted by Jordan Crouch on September 22, 2008

I’m still digesting all that’s going on and therefore will no editorialize anything yet. From my desk, this is how it looks:

  • Morgan Stanley/Goldman Sachs are asking to become banks
  • The Fed is recommending a $700 Billion (some say Trillion) bail out
  • Lenders stopped quoting loans last week while the market moved drastically
  • The Dow Industrial Average was down, down down, the up, up last week. It’s down again today
  • No one knows what’s going to happen next…

Posted in Capital Markets | 2 Comments »

Fannie Mae Update

Posted by Jordan Crouch on September 9, 2008

Business as usual…That’s what I’m hearing from my Fannie Mae contact. Spreads have lowered a bit, combined with the T-bill yield drop, rates are looking good. The only change that Fannie has made so far is lowering the amount of Interest Only for Tier 2 deals. A Tier 2 deal is a highly leveraged, low DSCR loan where as a Tier 4 deal is low LTV, high DSCR (Tier 3 is in between). Tier 4 loans can still get 10 years of Interest Only, Tier 2 loans now only get two years and Tier 3 loans can get five years). If you must have 10 years of Interest Only, contact me at Jordan(at) ASAP. There is still a few days to get 10 years IO.

Check out this link for explanation of the terms used in this post.

Posted in Capital Markets, Lenders | 1 Comment »

Monthly Newsletter

Posted by Jordan Crouch on September 3, 2008

Here is a link to the September’s newletter. If you would like to recieve this in email form, let me know.

Posted in Capital Markets | 1 Comment »

Events Page updated

Posted by Jordan Crouch on September 2, 2008

I’ve updated the events page with local Seattle area real estate events for September. Not sure why the last couple months haven’t been updating but its fixed now.

Posted in Seattle Real Estate | 1 Comment »