The new relationship with the Fannie Mae Delegated Underwriting and Servicing (DUS) lender is expected to give MRG-NJ "additional access to major new multifamily lending sources," according to Richard Koch, senior vice president of the commercial mortgage banker. MRG-NJ is the New Jersey office of the Jericho, NY-based M. Robert Goldman & Co.
"Fannie Mae DUS lenders such as Reilly Mortgage have the authority to approve up to $20 million without pre-review, helping borrowers finance all types and sizes of multifamily properties," explains Gerald Kray, vice president of Reilly Mortgage Capital. "In addition, one of the newest and best features of the DUS program is its ability to secure a second mortgage from Fannie Mae after the first year, something most other lenders prohibit."
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