RED Capital Group Approved by Freddie Mac as a Seller/Servicer for the Small Balance Loan Offering
Columbus, OH (PRWEB) August 24, 2015 -- Freddie Mac (OTCQB: FMCC) and RED Capital Group, LLC announced recently that RED is an approved lender in Freddie Mac’s Small Balance Loan program, which offers debt solutions for multifamily acquisitions and refinancing for smaller properties with at least five units.
“We are excited that the RED team is staffed with proven industry leaders in agency origination, underwriting and closing,” stated Ted Meylor, CEO and Chairman of RED. ”Each team member has over 10 years of agency and lending experience in their specialty fields.”
“With this team of experts and our established relationships and knowledge, I am certain we will exceed our clients’ needs on service and execution”, stated Donald Frankman, Managing Director, Small Balance Loan Originations for RED. “The team is equipped to provide immediate feedback on all inquiries and has the expertise to get deals done quickly and efficiently.”
“RED Capital Group was selected for its expertise in commercial real estate, especially in the smaller loan market,” said David Brickman, executive vice president of Freddie Mac Multifamily. “We look forward to working with RED to meet the financing needs of small apartment property owners.”
Freddie Mac’s Small Balance Loan offering features both fixed-rate mortgages and hybrid adjustable-rate mortgages ranging from $1 million to $5 million for apartment properties with at least five units. Terms include up to 80 percent LTV with underwriting parameters that are highly competitive with the banks, allowing for maximum leverage with an interest-only component.
About Freddie Mac
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
About RED CAPITAL GROUP, LLC
Recognized for its industry expertise, innovative and comprehensive structures, and consistently high rankings, RED CAPITAL GROUP, LLC has provided over $57.5 billion of integrated debt and equity capital since 1990 to the seniors housing and health care, multifamily, affordable, and student housing 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 exceeding $16 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 is a subsidiary of ORIX USA Corporation. For more information on RED CAPITAL GROUP, LLC, visit http://www.redcapitalgroup.com.
About ORIX USA Corporation
ORIX USA provides innovative capital solutions that clients need to propel their business to the next level. Based in Dallas, ORIX USA has a team of more than 1,400 employees spanning seven primary offices across the U.S. and Brazil. ORIX USA and its family of companies offer investment capital, asset management and financial advisory services to clients in the corporate, real estate and municipal finance sectors. The company holds approximately $7 billion of assets and manages an additional $30 billion. ORIX USA’s parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 36 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, visit http://www.orix.com.
DUS® is a registered trademark of Fannie Mae
For more information on this release or RED CAPITAL GROUP, LLC, please contact:
Lisalynne Quinn
Director of Marketing
RED CAPITAL GROUP, LLC
+1 469 385 1434
llquinn(at)redcapitalgroup(dot)com
Lisalynne Quinn, RED CAPITAL GROUP, LLC, http://www.redcapitalgroup.com, +1 (469) 385-1434, [email protected]
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