Multifamily borrowers can now get more loan proceeds and longer interest-only periods from lenders that securitize commercial mortgage-backed securities (CMBS). “They have gotten more competitive in every aspect of their quotes,” says Michael J. Riccio, senior managing director and co-head of national production of debt and structured finance, CBRE | Capital Markets. CMBS lenders are bending over backwards to make up for the intense competition from banks and Fannie Mae and ...
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