May 21, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. GSE vs FHA on perm LIHTC take-out and rate lock underwriting risks.
Rate Desk Notes May 21, 2020
- NASDAQ within 5% of all-time high
- Crude $33.98
- UST yields .68
- 223(f) 2.46%
- 221(d)(4) 3.11%
- Fannie 3.20%
- Freddie 3.20%
- LIHTC perm debt
- HUD waived 3 year rule
- FHA loan after 1 month stabilized at DSR and 3 month close
- Freddie TEL interest rate risk vs underwriting risk
- TEL pricing at 3.46% (1.00 above FHA)
- Forward rate lock does not remove risk
- Loan still carries underwriting risk
- Does CARES Act eviction moratorium apply?
- FHA confirmed allowance of ESA before firm commitment
- Tomorrow: Impact of the new CRA proposal on HTC values
How can I find if my property is a HUD assisted or FHA-insured multifamily property covered by CARES Act eviction moratorium?