Sentences with phrase «on syndicate mortgages»

«We only fund projects and developers that we know,» he says, adding that one of the mistakes made on syndicate mortgages is not carefully monitoring the project and how the funds are spent.

Since banks are not too keen on funding a building project that hasn't even started, developers will rely on syndicated mortgages to cover soft costs: consultant fees, zoning permits, architecture costs and even marketing and sales expenses.

Not exact matches

A crackdown in Ontario last month put the spotlight on these products when the province's financial services regulator issued $ 1.1 million in fines against four parties that were involved with syndicated mortgages for real estate development projects in which Ontario - based Fortress Real Developments Inc. was a developer or development consultant.

For instance, there are companies that specialize in securitizing the mortgages (a way of turning an illiquid asset into an investable security), as well as groups that focus on packaging cash from hundreds of investors and turning it into developer loans (also known as syndicated mortgages).

Mr. Nothaft made his mortgage prediction while speaking to Gil Gross on Real Estate Today, a nationally syndicated radio program that features experts from the housing and mortgage industry.

In Ontario, only mortgage brokers and agents licensed with the Financial Services Commission of Ontario (FSCO) can engage in syndicated mortgage transactions on behalf of a brokerage, and only licensed mortgage brokers (not agents) can sign the required investor / lender disclosure statement forms.

The mortgage structure can vary and mortgage brokers may either put together their own syndicates from a regular pool of investors, develop their own syndicated mortgage product that brokers can bring clients to, or deal with a company that underwrites a project after putting it together and then rely on one or more mortgage companies to raise the funds.

The RCMP conducted a search of Fortress Real's head office in Richmond Hill on Friday morning - the latest development in its investigation into syndicated mortgage fraud

Panelists are: Dr. Lynn Fisher, Mortgage Bankers Association, VP of Research and Economics Ken Harney, Washington Post Syndicated Columnist, The Nation's Housing Dr. Terry Clower, George Mason University, Director, Center for Regional Analysis Stockton Williams, Urban Land Institute, Terwilliger Center for Housing, Executive Director Location on Thursday, Nov. 10: Fairview Park Marriott, 3111 Fairview Park Drive, Falls Church, Virginia 22042 For Google Map Directions: http://go.nvar.com/ecodirections Media who attend will learn about these issues and more from our experts: I. National Economic, Housing Overview & Forecast A. Presidential Election Outcome: Impacts on Housing B. National Housing Policy Developments C. Availability of Financing, Monetary Policy D. Demographic Trends and The Housing Market II.