Gerson Is Cautious After $300M Q2

SAN DIEGO-One would think closing nearly $300 million in multifamily loans in one quarter would be cause for celebration, but Gordon Gerson isn’t popping the champagne cork quite yet. The principal of Gerson Law Firm here has been through a few real estate cycles since its inception in 1992 and is aware of how the market corrects itself after a strong quarter like Q2.

In addition to representing non-GSE lenders on commercial real estate loans secured by property other than multifamily, Gerson closed more than 30 Fannie Mae or Freddie Mac loans per month in April, May and June and nearly topped the $300-million mark in total GSE loan closing volume during those months. During the same time period, the firm represented loan servicers on assumptions and other loan-servicing matters related to Fannie Mae and Freddie Mac loans.