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Volume 3 - Number 1 | January 11, 2005
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INSIDER: Arbor Commercial Mortgage’s Joseph Donovan
By Stacey Corso
Uniondale, NY-based Arbor Commercial Mortgage LLC set a company record in 2004 by funding $100.5 million worth of Federal Housing Administration-insured loans, the highest volume it has ever reported. In fact, this figure catapulted Arbor to HUD’s top 20 list of FHA lenders.
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Fannie Mae Shakeout Continues With Compensation Dispute
By Sule Aygoren Carranza
After the Securities and Exchange Commission determined that Fannie Mae had violated accounting rules, resulting in a $9-billion loss (see MHF, Dec. 28, 2004) and the Office of Federal Housing Enterprise Oversight maintained that the company was “significantly undercapitalized” and $3 billion below its minimum capital requirement, rebuilding and regrouping at the mortgage giant has begun.
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New York City: Prices Soar, Investment Activity Fervent
By Stacey Corso
n what many multifamily experts say is traditionally the weakest quarter of any given year—the fourth quarter—prices per sf for multifamily product in New York City hit near record levels. At the same time, the city saw a sharp drop in the number of sales and listing inventory compared to the third quarter of 2004.
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