BETHESDA, MD—Locally-based EagleBank is expanding its lending creds with the launch of a FHA Multifamily lending division. It has hired four specialists to staff the new unit.
EagleBank will provide a range of debt products for multifamily borrowers through the new division, from development to long-term permanent financing. EagleBank Chair and CEO Ronald D. Paul called the unit the bank's "logical and strategic next-step" as it grows its multifamily business.
The four specialists are Tony Washington, Rich Devaney, Mike Somerville and Quinn Cullen.
Prior to joining EagleBank, Washington served as VP/National Production Manager for Oak Grove Capital, LLC, and other lending firms, including Walker Dunlop and Charter Mac Mortgage Capital.
A 30-year industry veteran, Devaney co-founded Crossbeam Capital in 2006. He led Crossbeam Capital through a merger with Concierge Asset Management in 2010, forming Crossbeam Holdings.
Somerville served as the Director of Multifamily Asset and Counterparty Oversight for the US Department of Housing and Urban Development before he joined EagleBank.
Cullen was AVP/Account Manager at Oak Grove Capital and a VP/Account Manager at Oak Grove Capital in Bethesda, MD.
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