Independent. Bank-grade derivatives analysis.

Interest rate swap
and cap advisors.

Hedging advisory for commercial real estate and multifamily, state housing finance agencies and affordable housing, municipal and 501(c)(3) issuers, and corporate borrowers nationwide. From a single deal-required hedge to a multi-billion-dollar bond program.

Talk to a principal → Request a rate cap quote
Always on the borrower and issuer side, never the bank's.
40+ yrs
Combined experience
1,000s
Transactions advised
100+
Lenders — every active hedge provider
QIR & IRMA
Registered advisor

Who we serve

Specialized expertise for each borrower and issuer we serve.

CRE & Multifamily

Commercial real estate & multifamily

Caps and swaps for owners, operators, investors, and asset managers.

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Housing finance & affordable

State housing finance agencies & affordable housing

Specialized hedging for state HFA bond programs and 4% LIHTC bond deals.

State HFAs → Affordable housing →
Public & nonprofit

Municipal & 501(c)(3) nonprofits

Swap advisory and QIR and IRMA for state and local governments, agencies, hospitals, universities, and other nonprofits.

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Corporate

Corporate borrowers

Hedging advice solely suited to your company's debt and risk profile.

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Services

Every step of the hedge, on your side of the table.

Interest rate caps

Best pricing on lender-required and agency caps, including Fannie Mae and Freddie Mac.

Swap advisory & structuring

Strategy, sizing, and structure, then a fair, transparent execution.

Municipal advisory

IRMA and QIR roles for tax-exempt borrowers.

Procurement & execution

Competitive bids and Dodd-Frank mid checks, fully documented.

ISDA negotiation

Negotiate the terms, collateral, and ratings triggers in your favor.

Hedge accounting & valuation

Mark-to-market valuations plus GASB 53/72 and ASC 815/820 effectiveness testing.

Fuel & commodity hedging

Diesel, gasoline, and natural gas hedging for transit and public-sector fuel users.

Insights

Notes from the desk.

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Affordable housing

Locking your permanent rate on an affordable housing deal

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State HFA

Managing prepayment risk with embedded cancellation options

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CRE

Agency cap requirements, from strike to DSCR, explained

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About Evercrest

Always a principal. Never handed off to a junior analyst.

Evercrest is a two-principal firm built by former Managing Directors of Swap Financial Group, and your engagement is handled by a principal directly, from first call to closing. Between us we bring more than 40 years of combined experience in derivatives pricing and independent advisory work, so you get bank-grade analysis and none of the bank's conflicts. We advise clients of every size, from agencies running multibillion-dollar bond programs to companies entering their first swap, with the same rigor on each.

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