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Whole Loan Acquisition Program

Whole Loan Acquisition Program. Greystone’s Whole Loan Acquisition Program. Greystone (GSC) purchases loans collateralized by multifamily properties from banks and other lending institutions.

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Whole Loan Acquisition Program

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  1. Whole Loan Acquisition Program

  2. Greystone’s Whole Loan Acquisition Program • Greystone (GSC) purchases loans collateralized by multifamily properties from banks and other lending institutions. • Loans purchased by GSC are either delivered to Fannie Mae, sold to third party investors, or held in portfolio. 1

  3. Eligible Loans • Loans secured by multifamily properties located anywhere in the United States, Puerto Rico, the Virgin Islands, and Guam. • Individual loans or pool transactions. • Loans may be seasoned or recently closed. • Loans that do not meet secondary market standards may be modified to bring them into compliance with secondary market standards: • Adding yield maintenance. • Curing loan documentation deficiencies. 2

  4. Benefits to Seller? • Increase liquidity • Resolve match funding dilemma • Manage single borrower loan volume and geographic concentration limits • Take-out for construction/mini perm loans • No “outside” origination or advisory fees 3

  5. Why Would Borrower Agree to a Modification? • Lower interest rate • No application fee • No origination fee • No closing costs • Lower/No third party costs • Purchased loans are eligible for full Fannie Mae benefits (i.e. supplemental loans, debt is assumable, etc…) 4

  6. Underwriting Loans are underwritten to Fannie Mae parameters: • Loans secured by “market” rate properties: • Maximum 80% LTV • Minimum 1.25x DSC • Loans secured by “affordable” properties*: • Maximum 90% LTV • Minimum 1.15x DSCR • Hybrid Loans – Contains floating and fixed rate interest periods. Must meet stress test. Consult Whole Loan Acquisition Team. *HAP properties underwritten to max. LTV of 80% and min. 1.25x DSC. 8

  7. CONTACT US: Jeff Englund - Director Phone: 813.830.7842 Cell: 813.300.7020 Fax: 813.830.7850 JEnglund@GreystoneUSA.com 10

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