Loans Leap High On Leap Year’s Extra Day

February 29, 2008
Posted in: News
By: Gerson

GERSON LAW FIRM APC closed a high volume of Fannie Mae Multifamily loans during February 2008, including eight closings on February 29.

Fannie Mae DUS multifamily loans were closed throughout California, Washington and Utah for institutional and non-institutional clients licensed to close Fannie Mae Multifamily loans.

During February 2008, Gordon L. Gerson and Shereen Rossini attended the Mortgage Banker Association’s Annual Commercial Real Estate Finance Conference in Orlando, Florida, MBA CREF. Talk among the more than 4,000 attendees, including all major national lenders and representatives of all sectors of the commercial real estate finance industry, was that there would be a continuing tightening of credit in the capital markets, and that new commercial loans would be underwritten on a “back to basics fundamentals” basis as opposed to more aggressive underwriting, which contributed to the extraordinarily high volume of commercial loans throughout the United States from 2003 to early 2006.