SACRAMENTO, CA-The high demand for multifamily properties intoday’s market should be a symphony to the ears of lenders likeThomas Dudley Jr., the chairman of theCalifornia Mortgage Bankers Association. Yetuncertainty and anxiety seem to lie beneath the surface of thisrobust market. Fannie Mae and Freddie Mac remain in thecrosshairs of Congressional scrutiny as single-family foreclosurescontinue to mount up. Meanwhile, other lenders, notably CMBS andlife insurance companies, are not as forthcoming with debt as manyoriginators would like. Trouble with European sovereign debt and/orelection-year politics over the federal debt ceiling could collapsethe current lukewarm recovery. In this edition of Six Questions,Dudley, who is also the principal of Newmark RealtyCapital in Irvine, CA, steps back and looks at some of the“macro” issues affecting multifamily lending.

GlobeSt.com: What are currently the top sources offunding capital for commercial/multifamilyproperties?

Dudley: In no particular order,insurance companies, Fannie and Freddie, US banks, foreign banks,CMBS, and some thrifts/savings banks.