Yield PRO TV Rate Desk May 21, 2020

May 21, 2020 edition of Yield PRO TV Rate Desk with Michael Thomas. GSE vs FHA on perm LIHTC take-out and rate lock underwriting risks.

Rate Desk Notes May 21, 2020
• NASDAQ within 5% of all-time high
• Crude $33.98
• UST yields .68
• 223(f) 2.46%
• 221(d)(4) 3.11%
• Fannie 3.20%
• Freddie 3.20%
• LIHTC perm debt
• HUD waived 3 year rule
• FHA loan after 1 month stabilized at DSR and 3 month close
• Freddie TEL interest rate risk vs underwriting risk
• TEL pricing at 3.46% (1.00 above FHA)
• Forward rate lock does not remove risk
• Loan still carries underwriting risk
• Does CARES Act eviction moratorium apply?
• FHA confirmed allowance of ESA before firm commitment
• Tomorrow: Impact of the new CRA proposal on HTC values

How can I find if my property is a HUD assisted or FHA-insured multifamily property covered by CARES Act eviction moratorium?

HUD multifamily assisted properties:
@s/multifamily-properties-assisted

FHA-insured multifamily properties:
@s/hud-insured-multifamily-properties