Scott MacPherson

There’s quite a bit of confusion around how filing your annual Texas Franchise Tax Public Information Report (“PIR”) with the Texas Comptroller affects your records with the state and control of an entity.  The content of the PIR although reflected in the records of the Texas Secretary of State (“SOS”) does not amend the Certificate...

The Mortgage Bankers Association estimates that nearly $1 trillion in multifamily CRE debt will mature by 2027.  An historically large number of multifamily debt maturities is on the horizon, leading many borrowers seeking to extend time on their current loans waiting for better interest rates and loan terms,  rather than refinancing their property at a...

Something new I’ve been encountering, as buyers find ways to avoid banks and other traditional lenders, is the “contract for deed” also known as an “installment land contract” or “bond for deed”.  A contract for deed is another method of seller financing. In this setup, the seller and buyer enter into a contract for deed...

Fannie Mae’s Green Rewards program incentivizes borrowers to undertake energy and water efficiency improvements at multifamily properties. The program is available nationwide to both conventional and affordable multifamily property loans, with a term between 5 to 30 years, and helps to lower property utility costs while increasing loan proceeds made available to borrowers. Additionally, owners...

Prior to joining Patel Law Group, I worked for two large servicers of Fannie Mae and Freddie Mac loans, and eventually ended up working in one of their special servicing departments managing underperforming loans. It wasn’t fun, and borrowers were annoyed, but it gave me a great understanding of what borrowers deal with once a...

As the economy grapples with a potential banking crisis, buyers are seeking ways to reduce interest rates and qualify for loans.  Some sellers are willing to take on a bit of risk to help these buyers purchase through seller financing. Although seller financing is rare, it has grown more common as the Fed continues to...

As interest rates remain high, one option for investors seeking multifamily financing for acquisitions is a loan assumption. A loan assumption occurs when a real estate buyer purchases a property and takes over a seller’s existing mortgage loan through the lender.  Many types of commercial loans can be assumed, including most Fannie Mae, Freddie Mac,...

In the search for an investment property, one of the first things any investor will consider is the property’s ability to cover its own operation and debt costs. Your lender will be just as, if not more, interested, and their underwriting team will delve deeply into the property’s recent financials calculating the annualized Debt Service...