Columbus, OH (PRWEB) January 07, 2014
Comprehensive capital provider RED CAPITAL GROUP, LLC announced today that according to Federal Housing Administration (FHA) reports, its mortgage banking arm, Red Mortgage Capital, LLC is the top ranked FHA-approved lender in the country for all FHA loan closings. In 2013, Red Mortgage Capital provided 255 FHA-approved LEAN and MAP loans totaling volumes over $2.4 billion, which is 11 percent of all FHA-approved loans.
“We are proud to be the highest-ranked multifamily FHA lender in the country again this year,” said Mike Moran, Chief Executive Officer, Red Capital Group. “We continue to achieve this distinction because we remain committed to our customers, our employees and our partnership with FHA.”
Of the 255 FHA-approved loans that were closed by Red Mortgage Capital in 2013, 193 of those were Multifamily Accelerated Processing (MAP) closings totaling over $2 billion, ranking the firm number one by loan count in this category. Section 232 LEAN program closings represented $452 million, ranking the firm number three in this healthcare category.
“Our strong partnership with FHA provides our customers with reliable and predictable access to the capital they need,” said Jim Hensley, Senior Managing Director, Red Mortgage Capital. “I believe that this coupled with our industry expertise and the exceptional service provided by our dedicated staff remains an asset to our customers.”
About RED CAPITAL GROUP, LLC
Recognized for its industry expertise, innovative and comprehensive structures, and commitment to its long-standing clients, RED CAPITAL GROUP, LLC has provided over $52 billion of integrated debt and equity capital since 1990 to the multifamily, student and seniors housing, and health care industries through three operating companies. Red Mortgage Capital, LLC is a leading Fannie Mae DUS® and MAP- and LEAN-approved FHA lender with a mortgage servicing portfolio of more than $17.8 billion. Red Capital Markets, LLC (MEMBER FINRA/SIPC) is a leader in the distribution of Fannie Mae and Ginnie Mae project MBS and provides structuring, underwriting, placement and advisory services for tax-exempt and taxable housing and health care bonds. Red Capital Partners, LLC provides proprietary debt and equity solutions and asset management in a range of forms including subordinated gap and bridge loans. RED CAPITAL GROUP, LLC, a subsidiary of ORIX USA Corporation, is headquartered in Columbus, Ohio and employs approximately 180 people across nine offices nationwide.
About ORIX USA Corporation
ORIX USA Corporation (http://www.orix.com) is the U.S. subsidiary of ORIX Corporation, a publicly-owned Tokyo-based international financial services company established in 1964. ORIX Corporation is listed on the Tokyo (8591) and New York (NYSE:IX) stock exchanges. ORIX USA Corporation is a diversified corporate lender, finance company, and advisory service provider with more than $6 billion in assets and an extensive portfolio of credit products and advisory services. ORIX USA is headquartered in Dallas, Texas and has approximately 1,400 employees worldwide.
DUS® is a registered trademark of Fannie Mae.