Mr. Borak represents national mortgage lenders in a variety of multifamily real estate financing transactions.  He has particularly focused his practice on affordable housing transactions that typically feature project-based HAP contracts, 4% and 9% LIHTC, multi-layered subordinate debt, state and local property tax exemptions, and tax-exempt bond issuance.  He has extensive experience with loans purchased under Fannie Mae’s Delegated Underwriting and Servicing (DUS) and Freddie Mac’s Capital Markets Execution (CME) programs, and his practice traverses a variety of different agency and non-agency financing structures.