Prosecutors say the defendants doctored the income and purchase prices multifamily properties by maintaining a second set of books, and using fake liens, false contracts, and inflated invoices...
In a speech this week before the annual secondary market conference of the Mortgage Bankers Association, FHFA Director Mark Calabria sounded a little bit like the Mark Calabria of the Cato Institute.
The new transaction will offer LIHTC lenders an additional source of liquidity in a tight market. A San Francisco transaction tests the waters to see if the new security floats.
Economists at the National Association of Realtors prefer a public utility model for the GSEs; FHFA director touts the multi-guarantor approach. The trade group uses an appearance by Calabria as an opportunity to highlight the differences.