Multifamily

More than 1 million homeowners feared imminent foreclosure in December

02/08/21

While loan performance is improving in aggregate, some borrowers remained unaware of the relief available or were unable to access it, according to the Research Institute for Housing America.

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Lower taxes, more M&A: Behind a California bank’s move to Texas

02/05/21

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

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New York Community sets sights on M&A

01/27/21

The company is exploring a range of options to diversify its balance sheet, but new CEO Thomas Cangemi says the best plan of attack is to merge with or acquire another institution.

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After sudden CEO transition, New York Community shakes up board

01/06/21

The multifamily lender named Michael Levine as board chairman, succeeding Dominick Ciampa, who held the role for 10 years. The move comes less than a week after longtime CEO Joseph Ficalora abruptly retired and was replaced by Thomas Cangemi.

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Lenders to small landlords brace for credit losses

01/04/21

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.

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Diversification, M&A may lie ahead for New York Community under new chief

12/29/20

The switch to Thomas Cangemi from longtime CEO Joseph Ficalora could foreshadow a push to curtail the company’s reliance on multifamily lending and the pursuit of a bank acquisition that lowers funding costs.

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Sudden change at the top of New York Community

12/28/20

Longtime chairman and CEO Joseph Ficalora will step aside Thursday as head of the regional bank and be succeeded by CFO Thomas Cangemi.

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Why multifamily loans remain resilient in New York

10/29/20

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.

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Multifamily borrowers in forbearance cannot evict tenants, FHFA says

08/06/20

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.

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Cracks begin to show in multifamily lending

07/22/20

Delinquencies have been ticking up since the start of the coronavirus pandemic and Capital One is warning of more pain unless the government provides additional relief to tenants and landlords.

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