Columbus, OH (PRWEB) May 07, 2012
Red Mortgage Capital, LLC, consistently one of the nation’s most active FHA MAP & LEAN lenders, is proud to announce it is the country’s top lender of FHA MAP loans for volume activity through the first half of HUD’s Fiscal Year 2012, which began October 1.
Based on Multifamily Hub FHA loan activity reports (excluding OAHP 223(a)(7) and OHP health care loans) recently published by HUD, Red Mortgage Capital, LLC led both by dollar volume ($640,000,000) and by number of transactions (58) and was ranked first in New Construction/Substantial Rehabilitation loans (12); first in 223(f) Refinance/Acquisition loans (32); and second in 223(a)(7) Refinances (14).
During HUD’s Fiscal Year 2011, Red Mortgage Capital, LLC was the nation’s third most active lender, having completed more than 100 MAP and LEAN transactions totaling nearly $1.2 billion. MBA data for the calendar year ending December 31, 2011 indicated Red Mortgage Capital, LLC had moved into second position as the country’s most active FHA/GNMA lender.
Edward H.R. Tellings, Senior Managing Director of Red Mortgage Capital, LLC and Chief Underwriter responsible for FHA operations said, “This is very rewarding news. RED works hard to submit top quality applications to HUD offices nationwide and we pride ourselves on providing thorough and exceptional service and results to our clients. This mid-year standing as the nation’s top FHA lender validates our efforts and encourages us to work even harder.”
Operating nationwide since its inception in 1990, RED CAPITAL GROUP, LLC is recognized for its industry expertise, innovative and comprehensive structures, and consistently high lender rankings.
RED CAPITAL GROUP, LLC is committed to being the nation’s premier provider of capital across the spectrum of multifamily, affordable and seniors housing and health care asset classes.