Issue link: https://read.dmtmag.com/i/370270
SEPTEMBER 2014 27 THE JOURNAL its customers throughout the loan transaction process, providing timely and reliable loan quotes on the front end and mon- itoring the loan underwriting and pro- cessing through closing. Wells Fargo is the servicer for all Fannie Mae, Freddie Mac, and conduit loans that it originates, so the bor- rower will always have a Wells Fargo contact within these loan programs after the loan closes. • Industry knowledge: By following the latest national and regional issues related to manufac- tured housing, we can identify and successfully address potential issues or problems early in the lending process. We consult regularly with our lending partners on underwriting guidelines and evolving issues within the MHC sector. • Market Coverage: Wells Fargo is able to provide financing on properties located in most markets within the United States, and we main- tain a database of appraisal and other information pertaining to markets throughout the U.S. • Financial Strength: Wells Fargo & Com- pany is a nationwide, diversified, community- based financial services company with $1.5 trillion in assets, providing banking, insurance, invest- ments, mortgage and consumer and commercial finance. "During past periods of market volatility we have not only remained in the market, but have actually increased our lending activity" said Petosa. "Freddie Mac received approval earlier this year to lend on MHCs, which provides many borrowers with another very competitive non-re- course alternative." Weber noted, "We continue to see increased demand for fixed-rate, non-recourse financing. Our CMBS program is second to none with some of the lowest costs and simplest terms in the CMBS industry. Our small loan group (<$10 million) has a fixed cost program that has been very well received by community owners. Many of our deals are now with repeat borrowers." "With the volatility we have seen in Treasury yields," Bertino added, "borrowers are very anx- ious to lock in interest rates and eliminate uncer- tainty. Our loan process has proven to be very efficient in getting borrowers in position to rate lock as soon as possible." For more information about Wells Fargo's Mul- tifamily Capital team that specializes in financing manufactured home communities, or for your copy of the latest edition of their Manufactured Home Community Financing Handbook please contact: Tony Petosa at (760) 438-2153 or tpetosa@wellsfargo.com, Creighton Weber at (248) 723-3119 or cweber@wellsfargo.com or Nick Bertino at (760)438-2692 or nick.bertino@wellsfargo.com, or visit www.wellsfargo.com/mhc. EXPERIENCE MATTERS FORGING RELATIONSHIPS...DELIVERING CAPITAL. 150 PARKS FINANCED IN LAST YEAR $225,000,000 IN LOANS CLOSED SUPERIOR EXECUTION LUTZ FINANCIAL SERVICES A Q10 CAPITAL LLC PARTNER A National Mortgage Banking Group Lou Vela CALL 248.432.3200 | Q10CAPITAL.COM No. 18 on Get It Quick Page Recognized As the Industry Standard for Manufactured Home Community Market Data 2014 JLT Rent Surveys Just Updated for Texas Markets Call 800.588.5426 www.jlt-associates.com • Rents and Increases • Community Rankings • Occupancy Rates JLT Rent Survey Reports provide detailed research on investment grade communities in 72 markets nationwide, including the latest rent trends, occupancy stats, and other valuable management insights. • Amenities & Services • Historical Data • Marketing Programs Visit Our Website for a FREE Sample Report No. 17 on Get It Quick Page \ 20 Send your company news and announcements to: news@journalmfdhousing.com Please send them as a Word Document attachment.