This post is a little belated, but it's always fun to be quoted in the press. Click article for more insights into the multifamily industry.
“The other byproduct of increased rates is a rising number of defaults of financial covenants in multifamily loans – in particular, failure to meet certain debt service coverage ratios or debt yield requirements,” he said. “For the most part, we have seen forbearance from lenders in exercising remedies for these types of defaults; but the million-dollar question remains: How long will lenders ride along before calling these loans?”
