NYBD / AQUA Runner OF THE YEAR!!!
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Does anyone know of a broker that will let you short OTCs?
I said .908
Personally like the GOOOji candle the best! LMAO
Got a LONG power hour today boys!!! $FNMA!!!
How about a white hammer candle today anyone? FNMA
We've got a ton of bid support down to .80
0.908
It's still a 3B asset with billions more in revs. Can you find me another OTC that can say the same?
0.85 - 0.87
Will bounce off of .879 IMO...or right now!
I find it really hard to believe that this would be a "sell the news" type of stock. "Billions in profit for the forseable future" It's just simply not like other OTC's. JMO
0.9103
Senior Housing Finance Through GSEs, HUD Won’t Slow Down in 2013
Elizabeth Ecker | April 1, 2013 | Comments (0)
Coming off a big year for agency financing in the senior living lending environment, 2013 looks to be no different in terms of the participation of the Federal Housing Administration, Fannie Mae and Freddie Mac in the market.
Some areas may even be positioned for growth.
Last year, the Department of Housing and Urban Development made headlines—and set records—for logging $5.5 billion in senior housing loans through its Section 232 LEAN program. The agency far surpassed its previous high of $3.3 billion recorded in 2011.
While it is not expected to trump its previous record by the same scale as in 2012, HUD’s participation in the market will still be strong, say those in the market for senior housing finance. Fannie and Freddie, too, will likely see stable volume this year.
Fannie Mae and Freddie Mac with their promise of quick turn times and non-recourse debt, counted 2012 as a landmark year with FNMA counting $1.2 billion in its senior housing business over the course of the year and a collective $3 billion over the past two years.
There may be an opportunity for non-government lending to make inroads on the horizon, but the senior housing industry does not appear to be headed in that direction just yet, says Michael Vaughn, senior vice president, FHA finance, for Walker & Dunlop.
“In 2012 the whole fiscal year counted 715 applications [for HUD financing],” Vaughn estimates. “This year if you annualize it, it’s at a rate of over 1000. That’s up significantly. They’re having trouble getting it all done—they’re starting to run a queue again.”
Additional pressures on HUD as a result of budget cuts will not help the processing capabilities, Vaughn says, as demand rises.
“They could gear it up a bit more, but the government is not giving them more people,” he says.
The market could be in for another record year if the levels are sustained, echoes Cambridge Capital Chairman Jeff Davis.
“The year is off to an excellent start,” Davis says. “Borrowers continue to find value in refinancing existing loans, with HUD’s 232 Lean program particularly active at this time. It’s early, but last year’s record-setting pace for FHA-approved HUD funding programs could be eclipsed if the current trend continues.”
Likewise, the GSEs are not slowing down in their appetite and capacity for senior housing projects in 2013.
“We have seen business pick up significantly over the past few months and were very busy in 2012,” says Bob Simpson, Vice President, Seniors and Affordable Multifamily Mortgage Business at Fannie Mae. “As busy as we are today, one of our competitive strengths is execution and response time.”
Fannie Mae says it is looking for growth opportunities through new partnerships in the coming year. It may mean more work with regional or mid-sized operators, and not just those that have existing relationships with the corporation.
“We are looking to establish relationships with borrowers who may not have used Fannie Mae financing in the past,” Simpson says. “A lot are emerging borrowers and may not have thought FNMA was interested. There are a lot of opportunities in this middle part of the market.”
Those potential operators are often regional, with communities in one state or a few states in a small geographic footprint, says Chris Honn, director of Fannie Mae’s seniors housing group.
“Typically they have at least two properties they own and operate with up to 30 to 50 properties in their portfolio,” he says. “One of the key items for us is identifying how much experience they have in this industry.”
With HUD and GSE financing expected to remain strong, a question remains of whether other financing sources are seeking expansion in seniors housing.
Real Estate Investment Trusts (REITs) have been very active in acquiring senior housing portfolios following the housing crisis and the market is seeing more competition from life insurance companies, say the Fannie Mae reps.
With slowing demand for debt financing, GSE activity could begin to taper off as well, says Nick Gesue, chief credit officer at Lancaster Pollard.
“Fannie and Freddie had very good years [in 2012],” Gesue says. “Volume was down relative to historic volume but both agencies were fairly pleased with the volume. Interestingly it has been curtailed a lot by two factors in particular, probably the biggest being REIT activity, and the elimination of need for debt financing. That’s the biggest eroder of their volume.”
Yet REITs are likely to continue as a strong financing source.
“They still have a lot of cash and a strong appetite for properties,” Gesue says. “One thing that will be interesting is seeing how much they get into short term lending, whether mezzanine or true first mortgage debt to bridge acquisitions, or as a way to deploy some of the cash they have at a better return.”
Written by Elizabeth Ecker
LATER!!! $FNMA!!
Chase baby chase JMO ;) $FNMA
HERE SHE BLOWSSSSSS!!!!! FNMA$$$
Chase shorty chase...oh and good luck ;) FNMA
0.72 and ready to bust a move! FNMA
Shorties gonna squirm and burn BABY FNMA!!!
Can't wait til they push it down more! Loadin up FNMA!
LMFAO! Lovin the shorties in here just squirming this am. LICKIN CHOPS BABY! ;)
Cannot wait until the open! Sr. adviser told my uncle to put every penny of his retirement into FNMA!!! :D
funny how you are essentially pumping for shorties right now...good luck!
LMAO ok you tryin to be a shorty here....hehehe good luck ;)
I don't know how to embed the video within the message even though I've seen others do it.
Listen to what Mr Warren Buffet says at the 3:18 mark in this video ;)
We seem to be settling a bit in the low 50's...I'd be happy with that
Been watching L2 for the past 3 days and it's been the same ol same ol. Selling a ton of 5k or less lots and a whole lotta loading HUGE 20k 50k 100k lots...doesn't take a rocket scientist to see whats happening here. LOAD UP IMO!
I smell PR afterhours and all you fools who sold will watch the gap up tomorrow with your jaw dropped imo :O
man they are LOADING this one! FNMA!!!
Rebound coming!
That is true. The preferreds are not flying off the shelf they simply offer the investor a tad bit more security long term and have a healthy dividend. However the upside margin on the common will be both higher near-term and long term IMO. FNMA!
Here she goes...ready to steady move upward $$$ FNMA
We are breaking structural resistance of .9241 very soon IMO ;)
Good luck with that...the thing just got cut more than in half :) What more could you ask for? FNMA
Oh well nicely played sir!
Not gonna happen bro. The only reason for the big dip yesterday was a some went rushing for the preferred shares. They are mostly gone now. We're in nothing but MEGA REBOUND MODE! GO FNMA!
I don't understand why everyone keeps saying The Street was negative on FNMA common shares. Thats not true! Really all the article said was that the preferred shares were a better deal. Meaning long term there was a safer upside with the dividends. IMO the common shares are going to offer investors a much higher % yield short & long term. GO FNMA!
0.839 now
Damn I had my bid in at .55 and ended up pulling it and chasing all the way to .66 AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH