Yearly Archives: 2014

FREDDIE MAC LAUNCHES NATIONAL SMALL BALANCE LOAN PRODUCT

As found in the CPE Daily Newsletter on October 13, 2014: Freddie Mac Multifamily has named three nationwide lenders to launch its new Small Balance Loan product aimed at providing more affordable housing by giving small rental property owners access to long-term debt capital. The loans, which will initially be...
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GERSON LAW FIRM SEPTEMBER LOAN CLOSINGS TOP $150,000,000

National lenders engaged GERSON LAW FIRM APC for representation in closing more than $150,000,000 in commercial and multi-family loans in September 2014. The closings reach all regions of the country – coast to coast, and border to border – and ranged in size from $750,000.00 to $26,050,000.00. More than 20...
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CREDIT UNIONS TO SENATE BANKING: ENOUGH IS ENOUGH

Credit unions are being overregulated with burdensome rules XCEL Federal Credit Union President and CEO Linda McFadden will tell the Senate Banking Committee on Tuesday that “enough is enough” when it comes to the overregulation of credit unions, sources in Washington tell HousingWire. McFadden, speaking on behalf of the National...
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AND NOW FOR SOMETHING COMPLETELY DIFFERENT…THE MORTGAGE BANKER’S FOOTBALL

With Fall comes the beginning of football season and the beginning of last quarter mortgage lending which industry watchers focus on with the same excitement as football fans focus on weekends. Gordon Gerson weighed in on the similarities with this article published in the California Mortgage Bankers Association quarterly publication....
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APTS. ARE BECOMING LIFESTYLE VENUES

First published August 25, 2014 on GlobeSt.com: SAN DIEGO—One of the reasons apartments have remained so strong in the real estate industry is they are much more than just a place to sleep, Gerson Law Firm APC’s Gordon Gerson tells GlobeSt.com. In fact, many of today’s apartments have become lifestyle...
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WHAT’S BEHIND THE GSES’ SUMMER COMEBACK

First published August 18, 2014 on GlobeSt.com: SAN DIEGO—Summer has been a strong season for Fannie Mae and Freddie Mac, at least from Gerson Law Firm APC’s perspective. During the month of July, the firm closed loans on lender engagements that included 18 Fannie Mae and Freddie Mac multifamily loans...
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GERSON LAW FIRM APC STARTS THIRD QUARTER WITH CRE FIREWORKS

GERSON LAW FIRM APC helped lead GSE and other lenders into a strong third quarter. Loans closed on lender engagements included 18 Fannie Mae and Freddie Mac multifamily loans for more than $62 million dollars, as well as several CMBS, SBA credit union and bank loans, loan assumptions and modifications...
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MATZ EXPLAINS SECURITIZATION PROPOSALS

As seen in the Credit Union Times on June 20, 2014. The NCUA Board proposed new rules Thursday that would give credit unions greater parity with banks when it comes to securitizing assets. One proposal clarifies that federally insured credit unions are authorized to securitize loans they have originated. A...
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NCUA PROPOSALS OFFER SECURITIZATION PARITY

This article appeared in the Credit Union Times on June 20, 2014. The NCUA Board approved three new proposed rules at its monthly meeting on Thursday, including a rule that would give credit unions greater parity with banks when it comes to securitizing assets. According to the board action memorandum,...
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SORRENTO MESA INDUSTRIAL BUILDING SELLS FOR $18.3 MILLION

As reported in the San Diego Business Journal on this date, Alliance Commercial Partners, LLC, recorded as GFP Alliance San Diego, LLC, purchased a Sorrento Mesa industrial building for $18.3 million. The 121,496 square foot property sitting on approximately 6.7 acres at 6650 Top Gun Street in San Diego, was...
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HOW TO SEAL, NOT KILL, LOAN DEALS

I am often asked to speak to non-lawyers who work for lenders about the loan documentation process but never about underwriting or loan commitments. But the application to underwriting-to commitment to loan documentation to closing phases is closely linked. And, it is more than simply one long hyphenated series of...
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THE CREDIT UNION-LOAN CLOSING BUSINESS

Why would any lawyer conjure up the term “loan-closing experience”? It is a welcomed professional kumbaya moment following a loan closing when emails start flying with expressions of appreciation from borrower to title counsel, loan officer, loan underwriter and outside counsel. To read more, please click here....
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NEW HIGH FOR COMMERCIAL/MULTIFAMILY MORTGAGE DEBT OUTSTANDING

Today MBA released its fourth quarter commercial/multifamily mortgage debt outstanding report. It shows that the level of commercial/multifamily mortgage debt outstanding increased by $41.2 billion, or 1.7 percent, in the fourth quarter of 2013, as all four major investor groups increased their holdings. On a year-over-year basis, the amount of...
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