NEW YORK, NY - Pillar Multifamily, LLC, an affiliate of Pillar Financial, LLC and Guggenheim Partners, LLC announced that it has been approved as both a Freddie Mac Multifamily Program Plus® and Targeted Affordable Housing Seller/Servicer.
In conjunction with these approvals, Pillar acquired approximately $500 million in Freddie Mac multifamily loan servicing under an approved transfer of servicing from ColumbiaNational Real Estate Finance, LLC, an independent mortgage banking firm. The companies have also entered into a strategic alliance, operating under the Pillar name, to continue to service and grow all segments of Pillar's agency businesses.
"Pillar is very happy to enter these relationships with Freddie Mac and ColumbiaNational," said Anand Gajjar, Chief Executive Officer of Pillar. "With this transaction and the recently announced Cohen Financial deal, Pillar and its affiliates now offer borrowers direct access to Freddie Mac, Fannie Mae, FHA/HUD, CMBS and life-company loans, as well as service over $22 billion for a wide variety of lenders. Additionally, we are particularly focused on the affordable housing sector, and have one of the largest teams in the country, headed by Justin Ginsberg and Andy Weil," he added.
"We are excited about our affiliation with Pillar and its related companies. It allows us to broaden our multifamily reach, adding Fannie Mae and FHA Healthcare financings to our business lines," said Louis S. Weeks III, Managing Partner of ColumbiaNational.
Pillar Financial and its affiliates are leading providers of financing solutions for multifamily and healthcare properties. The Pillar companies include a national Fannie Mae Delegated Underwriter and Servicing (DUS) lender for both conventional and affordable loans, a Freddie Mac Program Plus and Targeted Affordable Seller Servicer, a MAP-approved Federal Housing Administration lender, and an approved Ginnie Mae Multifamily issuer specializing in construction and permanent multi-family and healthcare debt financings.