ASK MIKE MONDAYS - I've been asked to be a KEY PRINCIPAL on a Fannie Mae loan; what are my risks?
Old Capital Real Estate Investing Podcast with Michael Becker & Paul Peebles · Paul Peebles
February 26, 201811m 30s
Audio is streamed directly from the publisher (traffic.libsyn.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Both Fannie Mae and Freddie Mac need someone or a few folks, within the investment group, to become the fiduciary on behalf of the partnership. They typically want a natural person to sign a "guaranty" between the lender and the partnership for a non-recourse loan. Michael explains some of the benefits and concerns if you sign on behalf of the borrowing partnership.