Suburban Capital Markets Inc. has begun originating multifamily loans under Fannie Mae's delegated underwriting and servicing program.
In addition to multifamily, sectors in the program include affordable housing, cooperative apartments, student housing, manufactured housing and senior housing. The program also includes special processing for small-balance loans.
The standard size of loans ranges from $500,000 to $30 million, and up to $75 million for cooperative apartments. The loans can carry a loan-to-value ratio of up to 80% of a property's appraised value, and terms can include maturities of five, seven or 10 years (or 30 years for self-amortizing loans).
SOURCE: Suburban Capital Markets
