By stretching out loan amortization beyond the term of the mortgage, they were effectively dropping debt service coverage to risky levels, says Joseph Franzetti, senior vice president at Duff & Phelps, a credit rating agency in New York City, as quoted in an article in
Apartment Finance Today.
A biweekly review of the latest news
in apartment finance, development, management, technology and more, featuring exclusive content from NMHC's experts and noteworthy articles from across the web.
«But relatively
easy apartment financing and prolonged developer optimism have created a supply wave that could adversely affect rents and vacancies, even in places where today's economics and demographics are apparently favorable.»
The GSEs — Fannie Mae, Freddie Mac and HUD — continue to provide
attractive apartment financing terms and rates: Loan - to - value ratios are currently 70 percent to 75 percent and 190 to 220 basis points over Treasuries.
For six years running,
Apartment Finance Today has recognized Yardi as the industry's top provider of property and management software, illustrated by its 2007 survey showing that 26.4 % of respondents used Yardi as their primary software suite.
The American Apartment Owners Association provides a range of features from tenant screening services and tenant background checks to landlord rental application forms and
apartment financing.