FREMONT, CA - Fremont Bank, a leading full-service mortgage lender in California, recently announced that through its Fannie Mae multifamily lending program it has provided $48 million in financing to the multifamily housing market in 2010, and $83 million program-to-date. The bank's multifamily lending program offers borrowers an easier way to take advantage of the highly competitive rates and the security of a fixed payment each month.
Source: Fremont Bank
Fremont Bank is one of only 30 Fannie Mae Small Loan Lenders nationally that specialize in this Small Loan Program. As a lender, Fremont Bank has delegated authority from Fannie Mae to underwrite, close and deliver multifamily loans up to $3 million (and up to $5 million in certain areas) for the purchase or refinance of multifamily properties of five residential units or more.
Over the last 29 years, Fremont Bank has continued to increase its multifamily lending for borrowers in California, Arizona, Nevada and Oregon, and now features a simple pre-qualification process for multifamily properties.
"Through our partnership with Fannie Mae, Fremont Bank has strategically grown its multifamily lending options. Our team is now able to provide our clients with fast, local decisions, highly competitive rates, flexible no-point and cash-out options," says Melissa Sanguinetti, Fremont Bank's multifamily lending manager and chief underwriter. "We are confident that we will grow in our partnership with Fannie Mae and continue to offer more opportunities for local multifamily borrowers."
Fremont Bank is the leading full-service community bank in Northern California. Founded in 1964, Fremont Bank is one of the oldest independent family owned and managed banks in the region and focuses on personalized service for individuals and businesses. It serves communities through 19 branches and seven additional ATMs throughout the Greater Bay Area. Exceptional client service is the cornerstone of Fremont Bank's business. Accommodation of customer needs in a friendly, personal atmosphere characterizes the Bank's culture.