Commercial Real Estate Mortgage
Total Page：16
File Type：pdf, Size：1020Kb
Load more
Recommended publications
-
Down Payment and Closing Cost Assistance
STATE HOUSING FINANCE AGENCIES Down Payment and Closing Cost Assistance OVERVIEW STRUCTURE For many low- and moderate-income people, the The structure of down payment assistance programs most significant barrier to homeownership is the down varies by state with some programs offering fully payment and closing costs associated with getting a amortizing, repayable second mortgages, while other mortgage loan. For that reason, most HFAs offer some programs offer deferred payment and/or forgivable form of down payment and closing cost assistance second mortgages, and still other programs offer grant (DPA) to eligible low- and moderate-income home- funds with no repayment requirement. buyers in their states. The vast majority of HFA down payment assistance programs must be used in combi DPA SECOND MORTGAGES (AMORTIZING) nation with a first-lien mortgage product offered by the A second mortgage loan is subordinate to the first HFA. A few states offer stand-alone down payment and mortgage and is used to cover down payment and closing cost assistance that borrowers can combine closing costs. It is repayable over a given term. The with any non-HFA eligible mortgage product. Some interest rates and terms of the loans vary by state. DPA programs are targeted toward specific popula In some programs, the interest rate on the second tions, such as first-time homebuyers, active military mortgage matches that of the first mortgage. Other personnel and veterans, or teachers. Others offer programs offer more deeply subsidized rates on their assistance for any homebuyer who meets the income second mortgage down payment assistance. Some and purchase price limitations of their programs. -
Commercial Mortgage Loans
STRATEGY INSIGHTS MAY 2014 Commercial Mortgage Loans: A Mature Asset Offering Yield Potential and IG Credit Quality by Jack Maher, Managing Director, Head of Private Real Estate Mark Hopkins, CFA, Vice President, Senior Research Analyst Commercial mortgage loans (CMLs) have emerged as a desirable option within a well-diversified fixed income portfolio for their ability to provide incremental yield while maintaining the portfolio’s credit quality. CMLs are privately negotiated debt instruments and do not carry risk ratings commonly associated with public bonds. However, our paper attempts to document that CMLs generally available to institutional investors have a credit profile similar to that of an A-rated corporate bond, while also historically providing an additional 100 bps in yield over A-rated industrials. CMLs differ from public securities such as corporate bonds in the types of protections they offer investors, most notably the mortgage itself, a benefit that affords lenders significant leverage in the relationship with borrowers. The mortgage is backed by a hard, tangible asset – a property – that helps lenders see very clearly the collateral behind their investment. The mortgage, along with other protections, has helped generate historical recovery from defaulted CMLs that is significantly higher than recovery from defaulted corporate bonds. The private CML market also provides greater flexibility for lenders and borrowers to structure mortgages that meet specific needs such as maturity, loan amount, interest terms and amortization. Real estate as an asset class has become more popular among institutional investors such as pension funds, insurance companies, open-end funds and foreign investors. These investors, along with public real estate investment trusts (REITs), generally invest in higher quality properties with lower leverage. -
Commercial Property for Rent Shelbyville Ky
Commercial Property For Rent Shelbyville Ky Richmond waded poutingly while working-class Walden heathenise galvanically or rinsed thievishly. Clemens is nocturnal: she recrystallized inerrable and explant her mitrailleuse. Resonant Jackson wreathes that butyl exsect stiff and Balkanise peaceably. The complete project for rent listings that you have higher than what you Pirtle Realtors in sustaining progress in Louisville by walking the path of flexible and responsible commercial and residential real estate development and brokerage. Have your attorney look up cases where Anchor Loans was the defendant and you will see the trend. Start to finish, the cycle was so smooth for what commonly would be an upsetting and critical trade. If I ever needed help from them. But numerical ones and surrounding area for the dr is redeemable for little money and commercial property for rent shelbyville ky area, no gathering worked with minimal hassle. Xpress credits regards the hour of others. Shelbyville healthcare properties for sale or lease, Shelbyville special purpose properties for sale or lease and Shelbyville development property for sale or lease. How can settle on property for rent, ky and property for commercial rent shelbyville ky? Thank you for your inquiry! Provides shelter or storing old files should have shown respect and property for commercial rent shelbyville ky area who have benefited from experiencing a kissimmee, i feel like? Main component in commercial property for rent shelbyville ky. Send you can be added feature of patient care along arterial routes. Company skilled in proposing optional solutions. Very efficient work with rent, ky commercial property for rent shelbyville ky commercial hard money loans. -
Real Estate Developers & Owners
www.bowditch.com INDUSTRY Real Estate Developers & Owners KEY CONTACTS OVERVIEW Paul C. Bauer REAL ESTATE DEVELOPERS & OWNERS T. 617-757-6535 The commercial development community understands the importance of having lawyers with an E. [email protected] innovative, solutions-focused approach to clients’ business needs and financial performance. Our Leah Rochwarg team members are, therefore, powerful allies to their clients, bringing a fresh, practical perspective to T. 617-757-6509 helping owners and developers of commercial real estate property, regardless of the size, type or E. [email protected] location of a client’s interests or projects. Joshua Lee Smith We understand that property developers and owners have unique needs for information, specialized T. 508-926-3464 legal services and informed counsel. With decades of experience, our Developers and Owners Industry E. [email protected] Group members help their developer clients manage risk and protect their financial future. Our clients rely on us for a comprehensive array of tailored services and support, including: PARTNERS • Ownership structuring and estate and family succession planning Louis M. Ciavarra Robert D. Cox, Jr. • Property acquisition, sale and leasing Katherine Garrahan • Debt and equity financing Brian S. Grossman James D. Hanrahan • Construction contracting and litigation Jane V. Hawkes • Environmental services, permitting and regulatory compliance Joshua A. Lewin Robert E. Longden We remain on the cutting edge of the complexities of property ownership – beyond the strict confines Samantha P. McDonald of a legal perspective – to provide the most supportive and useful guidance possible. We maintain our Timothy C. Monahan focus on each property owner’s goals and communicate fully at all times, meeting the unique needs of Julie K. -
Will Virginia's New Eminent Domain Amendment Protect Private Property?
WILL VIRGINIA’S NEW EMINENT DOMAIN AMENDMENT PROTECT PRIVATE PROPERTY? INTRODUCTION Most toddlers respect private property as private until they want it, at which point they feel justified in asserting their superior rights. The Norfolk Housing Authority recently has not behaved much differently. In fact, the Housing Authority is forcing local businessman Bob Wilson to give up his private property for an approved redevelopment plan to provide “retail space” for Old Dominion University student housing.1 Bob’s property is neither primarily residential nor an object of blight in the neighborhood. On the contrary, Bob has owned and operated Central Radio Company on the property for fifty years, employing 100 taxpaying citizens to produce radio and surveillance parts for the United States Navy. In Mr. Wilson’s words, “You shouldn’t be able to take land from one business and give it to another. That’s not fair. It’s not morally correct, it’s not legally correct.”2 Nevertheless, the Housing Authority may legally be able to proceed because the Supreme Court in Kelo v. City of New London defined public use as encompassing economic development.3 The Supreme Court’s opinion in Kelo strayed far from the intention of the constitutional Framers and early judicial adherence to a narrow, more literal interpretation of the public use requirement of the Fifth Amendment’s Takings Clause. The idea that the government cannot take from A and give it to B has been an established, bedrock principle since the nation’s founding.4 The trend toward a broad view of public use that culminated in Kelo has triggered an overwhelming response from 1 Rob Bell, Preventing Abuses of Eminent Domain, VIRGINIAN-PILOT, Oct. -
Commercial Vs Residential Transactions the Complexities & Needed Due Diligence
A Division of American Surveying & Mapping, Inc. Commercial vs Residential Transactions The Complexities & Needed Due Diligence National Marketing Director Service Provider to the David Herrin, Fidelity National Title Group Cindy Jared, SVP, Major Accounts Family of Companies Thank You Thank You • Thank you to ALTA and to Fidelity National Title Group for sponsorship of this Webinar and the opportunity to present to ALTA members • My name is David Herrin the National Marketing Director of National Due Diligence Services (NDDS) • NDDS is a Division of American Surveying & Mapping, Inc. • We are a national land surveying and professional due diligence firm • Established in 1992 with over 25 years of service • One of the nation's largest, private sector, survey firms • Staff of 150 dedicated & experienced professionals ® 2 Commercial vs Residential Transactions • Residential Transactions – Systematic and Regulated • Commercial Transaction – Complexities • Commercial - Due Diligence Phase – ALTA Survey – Related Title Endorsements • Other Commercial Due Diligence Needs – Environmental Site Assessments – Property Condition Assessments, – Seismic Risk Assessments (PML) – Zoning ® 3 Subject Matter Expert Speakers may include: David Herrin, National Marketing Director, NDDS Mr. Herrin offers over 35 years real estate experience including 10 years as a Georgia licensed Real Estate Broker (prior GRS & CCIM designates), regional manager for a national title insurance company & qualified MCLE instructor in multiple states. Brett Moscovitz, President, -
Hard Money Loan Guide Ebook
GUIDE TO HARD MONEY LOANS by Cathy Crowe “Hard money lenders are a great resource for real estate investors. Especially for the beginner investor with limited resources of cash and credit. Having a hard money lender on your team you can confidently go out and make offers on properties, close on the house and have repair funds to do the job!” Hard money lenders are a great resource for real estate investors. Especially for the beginner investor with limited resources of cash and credit. Having a hard money lender on your team you can confidently go out and make offers on properties, close on the house and have repair funds to do the job! The term “hard money” is a bit confusing. When you first hear this term, one might think that the money is difficult or hard to obtain. But, quite the opposite, it is the easiest money to procure. Just like in other areas of business the terms “hard” and “soft” come into play. Hard money has strict terms and repayment schedule. Soft money has easier terms a flexible repayment schedule. Hard money loans were designed specifically to service short-term real estate investments. If you’re looking at flipping a property or building something new, the benefits of hard money far outweigh the challenges. Hard Money Loans can be used for: • Property Acquisitions and Improvements • Rehabs • Apartments • Bridge Loans • Construction Developments • Commercial Projects • Remedial Financing on Distressed Mortgages. Hard money lenders are not restricted by the same regulations as major financial institutions, so hard money loans are more flexible than conventional mortgages or construction loans. -
Get a Glossary of Terms Used in the Title Industry
GLOSSARY A Abstract Plant – A geographically arranged abstract plant, currently kept to date, that is adequate for use in insuring titles, so as to provide for the safety and protection of the policyholders. An abstract plant as further defined in Rule P-12 and as further provided for in the Insurance Code, Chapter 2501.003 and Chapter 2502, must include an abstract plant for each county in which a title insurance agent or direct operation maintains an office. Abstract of Title - A compilation of all the recorded documents relating to a parcel of land. Usually kept by the land owner and used as the basis for an attorney as to the condition of title. Still in use in some states, and in some areas of Texas, but mostly replaced by issuance of title insurance. Abstract of Judgment – A lien created by a statutory filing of a court judgment in the real property records. This lien, commonly referred to as an AJ (in Texas), attaches to all non- exempt real property of the person or entity that the judgment was against. Acceleration Clause (in a mortgage) – Specifies conditions under which the lender may advance the time when the entire debt which is secured by the mortgage becomes due. For example, most mortgages contain provisions that the note shall become due immediately upon the sale of the securing land without the lender's consent or upon failure of the landowner to pay an installment when due. Access – The right to enter and leave a tract of land from a public way. Can include the right to enter and leave over the lands of another. -
Commercial Property-Assessed Clean Energy (PACE) Financing
U.S. DEPARTMENT OF ENERGY CLEAN ENERGY FINANCE GUIDE Chapter 12. Commercial Property-Assessed Clean Energy (PACE) Financing Third Edition Update, March 2013 Introduction Summary The property-assessed clean energy (PACE) model is an innovative mechanism for financing energy efficiency and renewable energy improvements on private property. PACE programs allow local governments, state governments, or other inter-jurisdictional authorities, when authorized by state law, to fund the up-front cost of energy improvements on commercial and residential properties, which are paid back over time by the property owners. PACE financing for clean energy projects is generally based on an existing structure known as a “land- secured financing district,” often referred to as an assessment district, a local improvement district, or other similar phrase. In a typical assessment district, the local government issues bonds to fund projects with a public purpose such as streetlights, sewer systems, or underground utility lines. The recent extension of this financing model to energy efficiency (EE) and renewable energy (RE) allows a property owner to implement improvements without a large up-front cash payment. Property owners voluntarily choose to participate in a PACE program repay their improvement costs over a set time period—typically 10 to 20 years—through property assessments, which are secured by the property itself and paid as an addition to the owners’ property tax bills. Nonpayment generally results in the same set of repercussions as the failure to pay any other portion of a property tax bill. The PACE Process *Depending upon program the structure, the lender may be a private capital provider or the local jurisdiction A PACE assessment is a debt of property, meaning the debt is tied to the property as opposed to the property owner(s), so the repayment obligation may transfers with property ownership depending upon state legislation. -
Commercial Mortgage ALERT Insurers Write Loan on Socal Mall Sition Specialist at Philadelphia Fund Shop Rubenstein Partners
FEBRUARY 26, 2021 QuadReal Doubles Down on Real Estate Debt After installing new leadership for its real estate lending operation last month, 2 Insurers Write Loan on SoCal Mall QuadReal Property aims to double its holdings of commercial-property debt in the U.S. and Canada over the next five years. 2 Apollo Hires BofA Lending Veteran The collateral for the Vancouver, Canada-based investment manager’s roughly 2 Loan Sought for New Boston Rentals C$6.8 billion ($5.4 billion) book of outstanding loans is split about evenly between properties in the U.S. and Canada. As it expands that portfolio, starting with about 3 Single-Borrower CMBS Deals Roll On C$2.5 billion of originations this year, the firm will lean more heavily toward lend- ing in the States as the economy rebounds from the impact of the pandemic. 3 Debt Sought for Refi of NC Offices The real estate debt platform had been led by executive vice president Dean 4 More Freddie Floaters On the Way Atkins, who retired at yearend. QuadReal has since modified the group’s leader- ship structure to align more closely with the company’s broader real estate business, 5 High-Yield Debt Returns Fell in 2020 encompassing commercial-property investments in 17 countries, including joint- venture equity stakes. 6 Helaba to Lend on Chicago Rentals QuadReal last month named managing director Prashant Raj head of the U.S. 7 CLO Shop Expands Bridge-Loan Unit See DEBT on Page 9 7 Kroll: 6% of Conduit Loans Modified Blackstone Backing Boston-Area Lab Play 10 INITIAL PRICINGS Blackstone is in line to provide some $400 million of financing on an office prop- erty outside Boston that’s been teed up for conversion to laboratory space. -
Your Step-By-Step Mortgage Guide
Your Step-by-Step Mortgage Guide From Application to Closing Table of Contents In this Guide, you will learn about one of the most important steps in the homebuying process — obtaining a mortgage. The materials in this Guide will take you from application to closing and they’ll even address the first months of homeownership to show you the kinds of things you need to do to keep your home. Knowing what to expect will give you the confidence you need to make the best decisions about your home purchase. 1. Overview of the Mortgage Process ...................................................................Page 1 2. Understanding the People and Their Services ...................................................Page 3 3. What You Should Know About Your Mortgage Loan Application .......................Page 5 4. Understanding Your Costs Through Estimates, Disclosures and More ...............Page 8 5. What You Should Know About Your Closing .....................................................Page 11 6. Owning and Keeping Your Home ......................................................................Page 13 7. Glossary of Mortgage Terms .............................................................................Page 15 Your Step-by-Step Mortgage Guide your financial readiness. Or you can contact a Freddie Mac 1. Overview of the Borrower Help Center or Network which are trusted non- profit intermediaries with HUD-certified counselors on staff Mortgage Process that offer prepurchase homebuyer education as well as financial literacy using tools such as the Freddie Mac CreditSmart® curriculum to help achieve successful and Taking the Right Steps sustainable homeownership. Visit http://myhome.fred- diemac.com/resources/borrowerhelpcenters.html for a to Buy Your New Home directory and more information on their services. Next, Buying a home is an exciting experience, but it can be talk to a loan officer to review your income and expenses, one of the most challenging if you don’t understand which can be used to determine the type and amount of the mortgage process. -
Sample Mortgage Application (PDF)
Uniform Residential Loan Application This application is designed to be completed by the applicant(s) with the Lender's assistance. Applicants should complete this form as "Borrower" or "Co-Borrower," as applicable. Co-Borrower information must also be provided (and the appropriate box checked) when the income or assets of a person other than the Borrower (including the Borrower's spouse) will be used as a basis for loan qualification or the income or assets of the Borrower's spouse or other person who has community property rights pursuant to state law will not be used as a basis for loan qualification, but his or her liabilities must be considered because the spouse or other person has community property rights pursuant to applicable law and Borrower resides in a community property state, the security property is located in a community property state, or the Borrower is relying on other property located in a community property state as a basis for repayment of the loan. If this is an application for joint credit, Borrower and Co-Borrower each agree that we intend to apply for joint credit (sign below): Borrower Co-Borrower I. TYPE OF MORTGAGE AND TERMS OF LOAN Agency Case Number Lender Case Number Mortgage VA Conventional Other (explain): Applied for: FHA USDA/Rural Housing Service Amount Interest Rate No. of Months Amortization Fixed Rate Other (explain): $%Type: GPM ARM (type): II. PROPERTY INFORMATION AND PURPOSE OF LOAN Subject Property Address (street, city, state & ZIP) No. of Units Legal Description of Subject Property (attach description if necessary) Year Built Purpose of Loan Purchase Construction Other (explain): Property will be: Primary Secondary Refinance Construction-Permanent Residence Residence Investment Complete this line if construction or construction-permanent loan.