I noticed a few new players lending in the Bay Area multifamily bridge space at 90% LTC, and I had a feeling the party would end soon.

@Robin Morales I think we're still seeing most players in my market standing on the sidelines.

There are a few players that make a great living in those areas, but majority would not. 

But there are still a ton of players.. and hopefully this will be short lived.But its really going to affect those who provide rehabbed rentals to the open market if that credit dries up.. 

@THU NGUYEN Is a huge player too.

Now, the rates are high due to all the fears of defaults in the coming months in the market and all the major players tightening up their lending guidelines and pulling out of certain loans all together. 

from what i am reading here on BP  Non QM investor loans are seeing some of the major players Pause / stop for now.Jumbo loans seem to have really tightened the criteria leaving few who could qualify it seems like There is no question of lending tightening up here in the short term.. 

Wells fargo has almost no cost of capital but a huge infrastructure, so they are GREAT for big acquisitions but bad for small players to deal with.Smaller banks are more expensive but they become much closer to partners then lenders because their success is much more closely tied to your success.now if we are just talking Fannie Mae loans that can be issued by absolutely anyone then a local investor friendly loan broker is your best bet. 

I agree with @Jeff Cagle that the real opportunities will be coming in late 2020 and early 2021 after people use up their government deferred leverage and when they do, there will be far more players in the game.

They need to see you in their circle for about a year or so before they will come around to see you as a solid player.