The Current State of the Single Family Rental Market
In speaking about the current state of the single family rental market, Mike Bennett, Head of Corporate Development for Roc360, discussed the company’s outlook for an eventual “return to normal” for DSCR lending as markets stabilize and borrowers acclimate to the new interest rate regime. Roc360 has seen an uptick in demand from its rental property investors as the initial shock of interest rate increases has abated and has seen consistent demand for its Fix and Flip investors.
Bennett went on to describe Roc360’s focus on product innovation during this market cycle, emphasizing the company’s “Stabilized Bridge” offering and more accommodative prepay structures that provide a natural hedge for rental property investors should a lower interest rate environment prevail in the next few years.
Jim Gallagher from Finance of America Commercial, FACo, also participated in the panel and spoke to the company’s optimistic view on the property investor marketplace. Roc360’s recent acquisitions of Finance of America Commercial (Fix-and-Flip Lenders are Consolidating) and more recently, Civic Financial Services (PacWest Sells Real-Estate Lending Unit to Roc360) will help Roc360 to serve more customers and combine to make Roc360 one of the largest lenders in the business purpose lending space.
By: Michael Bennett, Head of Corporate Development