Signed in as:
filler@godaddy.com
For over 4 decades, borrowers have been shut out of the pricing process for insured project loans. A high price for your bonds means a high rate for your loan. What is the maximum bond price promised by your lender at engagement? How do you know if they are honest about it?
We start with a market status check. We know which lenders have offered the best interest rates during the prior quarter, how rates have trended, and we help set expectations. We may even help you choose a lender!
But before you sign your engagement letter, use our advisory services to translate the information being given to you by your lender. If you want a more lenient prepayment penalty, it's important to discuss a bond price ahead of time. If your construction loan requires a lot of equity up front, it's important to draw at least $25,000 from the debt at closing to get the best execution. We're experts at guiding you through this process.
After your application has been submitted to HUD, add your loan details to the KimmyMae platform and be kept up-to-date on a specific interest rate for your loan. The platform will update your estimated mortgage proceeds so you can be reassured of a problem-free analysis for your investors. We offer peace of mind through transparency and trust.
Our business intelligence reports highlight the interest rate averages for each business quarter in 2023 and inform the borrowers who is offering below-average rates. Save yourself the dozens of hours of analysis, and buy the report today.
We're not advising that your lender do anything different from what they're already doing, so there should be no pushback. Our services and software make the information flow very quick and transparent. As productivity increases, the workload on the lender falls. They should be happy about that.
We understand that relationships matter, and our platform unlocks new opportunities for lenders to discover new buyers for their bonds. We're aware that some lenders have very special relationships with their bond buyers, but that should concern you (the borrower or producer) a little. In an opaque market, profit can be hidden. Broker fees can be hidden in bond proceeds. It's been this way for decades. Shining a light on the pricing of the bonds should have been heavily anticipated by the lenders. And if the lenders try to get the investors to boycott the sharing of pricing, they may be engaging in prohibited antitrust practices. Neither side wants to be the victim of an FTC inquiry, so the parties should be willing and able to disclose their information. Price fixing is a serious crime (10 years in prison, $1 million per person fine, $10 million fine per company).
Affordable housing, due to its government subsidies, is more rate-sensitive than any other multifamily real estate. We think all affordable deals should be certified Best Execution for the sake of the US taxpayer, who is ultimately at risk for defaults. HUD offers reduced-MIP loans for "broadly affordable" and "green" projects they insure.
Those loans have interest rate/price caps. Lenders who use our platform will be able to immediately calculate the maximum interest rate they can charge you based on your application and reduced-MIP status.