Inside Agency Lending: Market Cycles, Risk & Smarter Debt with Avrom Forman
From Baltimore RE full circle by Yaakov Kanevsky
February 5, 2026 · 51 min
About this episode
Yaakov Kanevsky interviews Avrom Forman about agency lending, market cycles, and smarter debt strategies for investors.
In this episode of Baltimore RE Full Circle, Yaakov sits down with Avrom Forman of Greystone, for a candid conversation on agency lending, market cycles, and how investors should be thinking about debt in today’s environment. Avrom draws on decades of experience as an owner, operator, and lender to explain how Freddie Mac and Fannie Mae underwriting really works, where borrowers commonly go wrong, and why many issues stem from misaligned incentives rather than bad intent. They discuss lessons from past cycles, the realities of third-party property management, scattered-site portfolios, and how lenders evaluate risk beyond the spreadsheet. Whether you’re refinancing, acquiring, or reassessing your capital stack, this episode delivers practical insight into structuring smarter debt, avoiding common pitfalls, and navigating a more disciplined lending landscape.
People in this episode
Host: Yaakov Kanevsky
Guest: Avrom Forman
Topics covered
- agency lending
- market cycles
- debt management
- investing strategies
- risk evaluation
- property management
Keywords
- agency lending
- market cycles
- debt
- Freddie Mac
- Fannie Mae
- risk evaluation
- property management
- investing
- capital stack
Mentioned in this episode
Organizations: Greystone, Freddie Mac, Fannie Mae
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