Despite record-low mortgage rates, real estate lending remains tight for many homeowners as well as home builders and small-scale developers. Non-traditional lenders have seized the opportunity to finance real estate investments from mortgages to development projects, in many cases charging hefty interest rates in return for the cash. Wall Street-based hedge funds and sovereign wealth funds have been among the most active for larger projects, while small firms like Procida Advisors underwrite mortgage loans for single-family home investors. Loans acquired from the savings of family members have become increasingly more popular, too.
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