Greystone Hits Milestone of $1 Billion in Freddie Mac and Fannie Mae Multifamily Small Loans for 2019 YTD
November 19, 2019
Greystone announced it has exceeded $1 billion in Freddie Mac and Fannie Mae multifamily small loans origination to date in 2019, further solidifying its recurrent leadership position in small- to mid-sized asset finance.
An early participant in both Freddie Mac and Fannie Mae’s small loan platforms, Greystone has consistently originated over $1 billion each year for this category, which includes properties with 5 to 50 units. Loans for these smaller assets are typically under $7.5 million, with mortgages including hybrid adjustable rates, fixed rates, and interest-only options at up to 80% LTV, as well as flexible prepayment options.
“The Agency finance option for multifamily investors has never wavered – it’s truly the best permanent solution available – and Fannie Mae and Freddie Mac continually ensure that their terms remain competitive in today’s market,” said Rick Wolf, head of Greystone’s small loan platform. “With clear guidance on the GSE loan volume for the next five quarters, we are full steam ahead in helping our borrowers realize the benefits of an Agency execution.”
“Greystone has been a major contributor to the growth and success of our SBL program throughout our 5-year history,” said Stephen Johnson, Vice President of Freddie Mac’s Small Balance Loan Business. “We congratulate the team on hitting yet another milestone and look forward to our continued work together.”
“Greystone has been an exceptional partner and valued contributor to Fannie Mae’s small loans lending platform for nearly 17 years,” said Ann Atkinson, Director of Customer Engagement, Fannie Mae. “We appreciate their long-term commitment and aligned mission to support the workforce housing sector. Together, our commitment to providing sustainable financing solutions that enhance affordability, security, and convenience of financing smaller properties plays an important role in securing a key source of housing for working families.”
“Greystone prides itself on its combination of product and local market knowledge, as well as our incredibly strong relationships with both Agencies, which help us deliver certainty of execution and exceed our clients’ expectations,” Wolf added. “We thank both Fannie Mae and Freddie Mac for their continued partnership in delivering competitive financing solutions to investors in workforce housing and the market overall.”