Greystone Closes More Than $1B in Freddie Mac, Fannie Mae Multifamily Small Loans
Rick Wolf, head of Greystone’s small loan platform, says that Greystone has closed more than 400 small loans with the two GSEs that he says “clearly demonstrates our commitment to the agency small loan business.”
NEW YORK CITY—Commercial real estate lender Greystone reports it has closed so far this year more than $1 billion in Freddie Mac and Fannie Mae multifamily small loans in markets across the United States.
Rick Wolf, head of Greystone’s small loan platform, says that Greystone has closed more than 400 small loans with the two GSEs that he says “clearly demonstrates our commitment to the agency small loan business.”
To support the growing demand nationally for financing of smaller multifamily assets, or properties containing five to 50 units, Greystone has invested in operational efficiencies, increased staffing in both production and underwriting support and is growing its presence in key markets that are seeing demand for workforce housing, such as Denver, Miami, and Seattle, Greystone officials note.
“We are committed to being the leader in the workforce housing finance market, and both understanding and meeting the needs of investors and owners across the US,” Wolf adds.
Freddie Mac and Fannie Mae officials both praised Greystone’s efforts in terms of their respective small loan programs.
“Since the inception of our Small Balance Loan platform in 2014, Greystone has been an exceptionally strong partner and a large contributor to its overall success and growth,” says Stephen Johnson, VP of Freddie Mac’s Small Balance Loan Business. “As the largest financier of multifamily loans in the US, we are steadfastly focused on increasing funding for workforce housing. The SBL program and our partnership with Greystone has been invaluable in helping us achieve that goal.”
“Greystone has been a valued contributor to Fannie Mae’s small loans lending platform for over 14 years, and we appreciate their long-term commitment and aligned mission to support the workforce housing sector,” says Ann Atkinson, director customer engagement at Fannie Mae.