The 20 lenders selected to participate in a pilot program the US Department of Housing and Urban Development launched in February—the Multifamily Low Income Housing Tax Credit pilot—are set to begin training Friday. Once the session is complete, lenders will be qualified to start processing applications.
A HUD spokeswoman tells GlobeSt.com that any deals in these lenders’ pipelines that fit the program’s criteria can transfer to the pilot. She declined to comment what that amount may be.
One lender in the program, CWCapital, has about $50 million worth of transactions it hopes to transfer. “We have about six or seven loans and we expect to add more,” Ellen Kantrowitz, managing director and head of CWCapital’s FHA group, tells GlobeSt.com. “We plan to market the program to clients that have properties that meet the criteria.”
Read more...GlobeSt.com - Lender Training Begins for HUD's Multifamily LIHTC Pilot - Daily News Article
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