Newport's acquisition, announced in August, is the second thisyear for KeyCorp, which has initiated a management reportingshuffle for the operation. Newport specializes in loan origination,underwriting, funding and servicing of multifamily real estateloans under Fannie Mae, Freddie Mac Program Plus, HUD Sections 223(f) and 221 (d) and securitized mortgage programs. The KansasCity-based acquisition, National Realty Funding, caters to CMBSorigination and loan servicing. Nearly 30 percent of Key's annualcommercial real estate financings are in the multifamilysector.

The management makes John E. Case of Cleveland into the role ofpresident for Key Commercial Mortgage. He will report directly toGeorge Emmons, KeyCRE's executive vice president and nationalmanager.

"The concept behind creating a national mortgage finance companyis to be able to offer our clients the broadest selection ofpermanent lending products, which will allow them to decide what isbest for them," says John E. Case, Key Commercial Mortgage's newpresident. A national lending structure will enable processes to bestreamlined and open doors for offerings, he says.To leverageexisting resources from both acquisitions, KeyCRE has consolidatedareas of permanent mortgage servicing, CMBS, agency underwritingand closing. KeyCRE will maintain offices in Dallas, Baltimore,Tampa, San Diego, Atlanta and Cincinnati.