FINANCIAL UNDERWRITING, LOAN WORKOUT & DEBT RESTRUCTURE
Client’s Name: U.S. Department of Housing and Urban Development (HUD) Office of Affordable Housing Preservation (OAHP)
Period of Performance: May 1999– Present
Description of Services Provided: The Multifamily Assisted Reform and Affordability Act of 1997 prompted the “Mark-to-Market Program (M2M)” for the comprehensive underwriting, subsidy realignment and debt restructure for 10,000 expiring FHA-insured Section 8 project based multifamily properties, housing 1.6 million tenants.
Now in our 10th year, Signet has conducted the M2M program for over 700 properties in 28 states resulting in $750 million in loan restructures and saving approximately $400 million in excess rent subsidies. Our related responsibilities include physical and financial evaluation, market analysis, subsidy and debt restructure underwriting, owner negotiations, transaction closings and disbursement administration for capital repair escrows. In 2009, the program received additional funding under for green and energy conservation retrofits. Signet now underwrites these improvements with LEED designated staff and conducts the rigorous reporting associated with the American Recovery and Reinvestment Act of 2009 (ARRA).
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Signet Partners
7400 E. Crestline Circle
Suite 150
Greenwood Village, CO 80111
Phone: 303.773.3330
Toll Free: 888.901.3330
Fax: 303.773.6256
Email: info@signetpartners.com
