Source: Red Mortgage Capital / #Multifamily #Finance
COLUMBUS, OH - Comprehensive capital provider RED Capital Group announced its 2011 Mortgage Banking highlights.During the year, the firm provided $2.95 billion in capital to multifamily, student housing, seniors housing and health care project entities nationwide.
Among the list of year-end achievements accomplished by Red Mortgage Capital, LLC, the national lending and loan servicing mortgage banking group now in its twelfth year of providing services to borrowers, investors and other lenders, RED's announcements include:
Fannie Mae: 2011 Top Ten Fannie Mae DUS Lender
FHA: 2011 Top FHA Multifamily/MAP Lender (3rd by loan amount closed-$1.05 billion)
FHA: 2010-11 Top FHA Health Care/LEAN Lender - (4th by loans-61 transactions)
MBA Commercial Servicing: 2011 Top 25 Primary & Master Servicer by volume ($14.9 billion)
MBA Commercial Servicing: 2011 Top Ten Fannie Mae & Freddie Mac Servicer by volume ($11 billion)
MBA Commercial Servicing: 2011 Top Five FHA & Ginnie Mae Servicer by volume ($3.6 billion)
In addition to mortgage lending solutions through GSE executions, RED also successfully re-launched its Bridge-to-Perm capability in 2011, whereby Red lends capital to borrowers to bridge the timing of a HUD application for permanent financing or Fannie Mae-eligible properties which require additional seasoning. Principal lending structuring services are provided through related entity Red Capital Partners, LLC, which can structure bridge and gap needs as first or second mortgage or mezzanine financing. Qualifying multifamily and seniors/health care properties include acquisition, repositioning and rehabilitation opportunities as well as select new construction projects.
Red Mortgage Capital, LLC's Chairman and CEO Mark Beisler said, "I want to thank our clients and employees for a tremendous year with exceptional results. FHA and Fannie Mae were outstanding partners and worked exceptionally hard with us and our clients to deliver custom-tailored financing solutions. Red's deep programmatic knowledge of FHA and Fannie Mae provides our customers an efficient means to access capital very efficiently. Red is a reliable and predictable lender and we stand ready in 2012 to again focus our energies and resources on providing solutions to our customers. Our belief is - take care of your customers' needs and your business will take care of itself."
Operating nationwide since its inception in 1990, RED Capital Group is recognized for its industry expertise, innovative and comprehensive structures, and consistently high lender rankings. Red Mortgage Capital, LLC is one of the nation's top three FHA lenders for overall Multifamily/LEAN experience, having closed more than 100 transactions totaling nearly $1.2 billion during HUD FY2011, and also is an active Fannie Mae DUS® lender for both multifamily and seniors and an approved Freddie Mac Seller/Servicer for Seniors on a national platform.