As lenders nationwide hunker down and prepare for an economic downturn, Fannie Mae and Freddie Mac are implementing stricter multifamily loan terms.
The GSEs remain open for business, but many borrowers will have to provide more equity and will be required to put 12 to 18 months of payments into a reserve account. That is a tough ask for all but the most well-capitalized borrowers.
Read more...Fannie, Freddie Raise Reserve Requirements as Loan Standards Tighten via Multi-Housing News Online
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