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Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification Copy Copy

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification Copy

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

Identity Verification Live – IDECC

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number to take the final exam.

Identity Verification Live – MF321DC-BR

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number to take the final exam.

Identity Verification Live

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number to take the final exam.

Identity Verification Live

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number to take the final exam.

Identity Verification

You have successfully completed all the lessons in this course. Please verify your identity by entering in your State Recognized ID number or your full name to take the final exam.

August, September, and October Changes

Video Time: 4:40

What are you hearing from clients with August collections? What will September and October look like?

In August, experts are seeing that on average collections are at 90%. There has been a slight decline in the multifamily segment. Experts predict that the decline may continue into the fall for class A multifamily properties.  In class B, experts predict a similar decline. Class C has been strong, however. Almost every property is 95-100% physically occupied. Experts agree that there should be more stimulus funding.  In class B and C properties, most tenants cannot usually work from home.  

When the video ends, a quiz will appear below. Take the quiz to proceed to the next lesson.

Underwriting Requirements

Video Time: 3:25

 What trends are instructors seeing in regards to the real estate market as a whole?

Hospitality is extremely difficult to finance right now. If a hotel is struggling right now it will be very difficult to get financing. Multi-tenant retail deals are highly scrutinized right now depending on the tenants.  CMBS is coming back onto the market in certain portfolio deals. Financing deals is possible but instructors say that they need a strong story and sponsor. Anyone trying to get their first deal done or doing off-the-beaten-path deals like hotel-to-multifamily conversions are not really getting done right now. 

When the video ends, a quiz will appear below. Take the quiz to proceed to the next lesson.

Changes to Underwriting Requirements

Video Time: 7 Minutes

Have underwriting requirements changed in the past 4-6 months and are instructors seeing more loan assumptions?

Yes, underwriting requirements have changed, but there is also a more thorough process for looking at numbers before closing deals. Taxes and insurance in Texas must be underwritten. Outside of that, vacancy factor will need to be bumped up as well.  Most of the underwriting changes have really been focused on the borrower.  People are looking at assumptions when properties are under distress.  Typically people are looking at getting new debt because of lower interest rates. 

When the video ends, a quiz will appear below. Take the quiz to proceed to the next lesson.

LIBOR

Video Time: 1:42

Are instructors seeing any changes in LIBOR?

LIBOR will be phased out in 2021 and is being replaced by SOFR. None of the banks know how to cap SOFR yet.

 After watching the video, be sure to complete the one-question quiz to proceed.

Current Interest Rates

Video Time: 3:47

What are current interest rates and what are instructors seeing in the market?

Rates are the lowest that experts have ever seen in the industry.  Seasoned investors are getting deals done and taking advantage of the market.  We have seen as low as low 3% and high 2% rates on the Fannie Mae side. A lot of Fannie Mae debt has penalties to exiting early. So some people are still taking floating rate debt right now because they can get out earlier.  

After watching the video, be sure to complete the one-question quiz to proceed.

Fannie and Freddie Reserves

Video Time: 2:05

Instructors elaborate on Fannie and Freddie Reserves having Pull-Back.

Borrowers had to put up around 10% of the loan amount at closing of additional reserves. As a result, Fannie saw 3 good months (April, May and June) of collections and then turned that down slightly to only around 5% of the loan amount.  A lot of borrowers are raising funds and when they get it back from Fannie and Freddie they will most likely put it into the units for upgrades and improvements.  

After watching the video, be sure to complete the one-question quiz to proceed.