Shutting Lender will Hurt Apartments

The Daily Journal reported on March 2, 2011, that the Obama Administration has proposed to scrap homeowner lenders Fannie Mae and Freddie Mac. The publication quoted Cox Castle & Nicholson partner Stephen Ryan. He noted that the development “could be a big shake up for the DUS lending market.” Ryan, who represents lenders and developers added: “The impact of the change on DUS lenders who are associated with large financial institutions probably won’t be very big. But for some that are smaller, whose operation really involves only that DUS function – they absolutely could be impacted greatly.”