- Due to increased loan volume and historically low interest rates available to borrowers, HUD has expanded its Interest Rate Reduction program, permitting borrowers of performing properties to reduce interest rates on FHA insured loans through a greatly abbreviated application process rather than requiring them to go through a complete, traditional refinancing. Now is the time for affordable housing borrowers to explore their refinancing options.
- Cost shifting is the unauthorized transfer of costs from non-reimbursable cost centers to reimbursable cost centers. Reallocated costs are the authorized repurposing of budget dollars resulting from advantageous purchasing practices or efficient delivery of construction services.
- As has been anticipated since the end of the Great Recession, a wave of bank consolidation is very much in formation and could swell to significant levels later in 2015. On its own merit, the increase in average pricing on Q1 2015 deals to a level of just over 150% of book value strongly indicates a more robust mergers and acquisition market for banks.
- Prior to the closing of the deal, certain outside directors were indicted by the US government and charged with numerous counts of fraud, misappropriation of assets, and obstruction of justice, as well as other charges related to business dealings outside of the bank. Baker Tilly was engaged to help determine the degree of involvement and influence the subject directors may have had on the bank’s operations and financial condition.
- Baker Tilly helps counsel for the buyer to quantify the lost profits associated with an alleged breach of the non-compete provision following an acquisition.
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