Plans this Summer
What are you guys doing this summer? I feel like doing deals is off the menu, once a few more die I think I may call it and go somewhere.
Wondering if other people have the same mindset or think its worthwhile to grind through some deals and find one that may fall out when it comes to closing to show face at your company or something.
We are surprisingly busy. There's been a slight rally in the 10 year and this has caused a lot of Index Lock's for the Agency side of things.
Only Freddie can index lock right? Or can Fannie do it too? And is there an increase in spread if there is index lock? What’s the increase? Thank you.
Fannie and FHA can SERL. Not sure what it's called for FHA. But they do have a slightly different criteria to lock and have a more contracted period you have to rate lock once you've SERL'd. I'm hoping this rush to lock carries us till the fall when borrowers will of adjusted for the rate increases and business starts a normal trajectory.
For IL it's no cost. I believe FNMA is a 5 bps cost.
I'm trying to swing a trip if I can, I'm in brokerage on the debt side and our flow has been moderate. We're anticipating it to slow down even more and I'm looking to get out of the country for a little and enjoy it. TBD though:/
I am in the middle of 2 dying deals, as soon as they die I am out
We're hoping to see some distressed acquisition opportunities, but it will probably be a pretty slow summer for anything real happening. Assume I'll get staffed on a few underwritings of hopelessly underwater multitenant towers, then taking a few weeks of paternity leave with the family in August. Will probably try to work on my ARGUS case studies & skills since I'm still brushing up there, maybe do some REPE case studies to keep things sharp.
Hah, I'll be doing deals in between an Italy trip.
Glad to see people sitting on the sidelines though. Hopefully land prices start to retreat.
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