Greystone Closes Over 1,000 Freddie Mac Small Balance Loans
February 22, 2018
Greystone announced it is has reached the milestone of providing over 1,000 Freddie Mac Small Balance Loans (SBL).
Since its launch in late 2014, Freddie Mac’s SBL offering has funded a total of more than $13 billion and over 5,000 loans. Greystone was the first lender to close an SBL loan in 2014, and was the first lender to fund $1 billion in SBL loans within a calendar year, in 2017.
Freddie Mac’s Small Balance Loan offering provides a competitive option for loans between $1 million and $7.5 million on multifamily properties of 5 units or more. The flexible loan offering provides six different financing solutions across hybrid ARM and fixed-rate products with 30-year amortization and up to 80% LTV in certain markets.
“Greystone is an extraordinary partner—and a key driver of the Small Balance Loan platform’s tremendous success. We congratulate them on reaching yet another significant milestone,” said Stephen Johnson, vice president of Freddie Mac’s Small Balance Loan Business. “This accomplishment reflects Greystone’s tireless commitment to delivering speed, efficiency and certainty of execution to every transaction and every SBL borrower—every single time. We look forward to capitalizing on this partnership by expanding access to workforce housing wherever it is needed across the United States.”
“Freddie Mac’s Small Balance Loan offering has proven to be an ideal fit for many of our clients who are looking for acquisitions or refinancing smaller multifamily properties,” said Rick Wolf, head of Greystone’s small balance loan production. “The product is highly competitive with traditional financing, and we are thrilled to be able to provide our clients with such an advantageous loan product for optimizing their portfolios.”