Morgan Keegan’s National Housing Group consists of 23 bankers and other professionals dedicated solely to providing financing solutions to providers of single family affordable housing programs and multifamily housing developments. Housing transactions are inherently more complex than many other bond issues. This is because of the more complicated analytical process that accompanies any housing issue. Morgan Keegan has invested heavily in state-of-the-art computer software to run these analyses, which are required by the rating agencies and other parties to the transactions. In addition, we have some of the most skilled analysts in the industry who are proficient in developing proprietary models to achieve virtually any type of analysis necessary to accomplish the borrower’s financing objectives.
Single Family Housing
Morgan Keegan’s National Housing Group is continually developing new financing structures and techniques designed to benefit state and local housing agencies and the constituents they serve. In the interest of our clients, Morgan Keegan constantly reviews, in coordination with an issuer and its financing team, the financing and non-financing options available in the marketplace. Over the years, Morgan Keegan has employed a number of innovative techniques as senior manager, tailoring structures to specific challenges and situations, as appropriate for each issuer and market.
Since 1988, Morgan Keegan’s National Housing Group has structured almost 600 single family mortgage revenue bond issues totaling over $21 billion.
Multifamily Housing
Morgan Keegan has senior managed virtually every type of credit enhanced and unenhanced multifamily housing bonds. These have included fixed and variable rate transactions involving for-profit and not-for-profit developers. Morgan Keegan has structured large and small single project financings as well as pooled financings. We have created innovative multifamily structures for both new money and refunding issues. In the last five years, Morgan Keegan has managed over 125 multifamily issues totaling $2.2 billion in par value.
Morgan Keegan’s housing finance professionals have structured and placed numerous bond issues used to finance the acquisition, construction or rehabilitation of multifamily projects. We also have extensive experience in analyzing and structuring esoteric multifamily products, such as financial adjustment factor (“FAF”) refundings. Our bankers are also aware of the role that low income housing tax credits play in multifamily housing finance as well as other potential subsidies such as HOME funds, CDBG and Rural Economic Development and Community Development Service programs.
Representative housing clients include:
- Alaska Housing Finance Corporation
- Arkansas Development Finance Authority
- City and County of Denver, Colorado
- Finance Authority of New Orleans
- Florida Housing Finance Corporation
- Georgia Housing and Finance Authority
- Houston Housing Finance Corporation
- Industrial Development Authority of the City of Phoenix
- Kentucky Housing Corporation
- Louisiana Housing Finance Agency
- Mississippi Home Corporation
- North Carolina Housing Finance Agency
- Southern California Home Financing Authority
- Tennessee Housing Development Agency
- Urban Residential Finance Authority of Atlanta
- Virginia Housing Development Authority
