Welcome to Van Patten & Company
Big Changes Announced at HUD! On Wednesday April 24, 2013, HUD announced a major restructuring resulting in the closing of 16 smaller HUD offices during 2013. Apparently, by 2016 there will only be five main offices and five satellite offices which will result in the closing of many state offices. The new HUD model will apparently be more similar to the Fannie / Freddie model with more responsibilities for the lenders. HUD's goal is to improve processing efficiency. See this link for more info:
On a more bigger scale, HUD's changes brings to focus the greater idea that over the next twelve to twenty four months, HUD, Fannie Mae, and Freddie Mac will be very different. Most notably, Congress is determined to change or consolidate Fannie / Freddie. It has been discussed that there will be just one big non HUD government entity instead of two with perhaps an emphasis on smaller sized deals under $50 million. It would be prudent to adjust your strategic plans now. Call us and let us help you get your deals done! Be prepared to work with the coming changes of HUD and Fan / Fred!
As we celebrate our 12th year, our firm’s focus remains the same,to assist our clients in navigating the often changing and confusing financial market place and provide services that help our clients prosper during both stronger and weaker economic times.
We accomplish this by providing several multifamily financing platforms with HUD, and Fannie Mae financing products, along with consulting tax-exempt bonds and low income housing tax credit services, and real estate brokerage services.
Finally, our firm’s emphasis is geared toward building relationships rather than being transaction oriented, and using our creativity to get our clients’ deals done.
We encourage you to explore our website and contact us if we may assist you in your multifamily financing, consulting, or commercial real estate brokerage needs.