BETHESDA, Md., July 28, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that its dedicated multifamily small loans team, WDExpress, is now an approved Freddie Mac Optigo® Small Balance Lender. As an approved lender, Walker & Dunlop is part of a select group of 12 experienced multifamily lenders that work exclusively with the Freddie Mac Small Balance Loan (SBL) production team. The designation provides a platform to originate and sell multifamily loans of $1 million - $7.5 million and with at least five apartment units nationwide.
To help support the nationwide need for affordable housing, Freddie Mac offers special programs for small balance loans. Smaller properties play a unique role in the rental housing market, as they tend to be more affordable and located in urban areas. Through the Freddie Mac SBL program, WDExpress can provide sustainable and affordable financing solutions with terms that meet their clients' specialized needs, including:
- Non-recourse loans
- Fixed and hybrid floating-rate options
- Interest-only available
- Lower closing costs than traditional agency financing
- Ability to lend in secondary and tertiary markets
"We are thrilled to add the Freddie Mac SBL program to our platform, which will help propel us to the forefront of small balance multifamily lending," commented Mark Besharaty, Senior Vice President and Chief Production Officer of WDExpress. "As an SBL lender, we will work closely with Freddie Mac to find financing that meets our clients' needs, offering better terms and a faster, simpler loan process. When it comes to multifamily finance, Walker & Dunlop and Freddie Mac get the job done."
"We are pleased to welcome Walker & Dunlop as the newest member of our Optigo® Small Balance Loan network," said Megan McElgunn, Senior Director of SBL Production & Sales for Freddie Mac Multifamily. "As a top lender in the Multifamily space for many years, Walker & Dunlop has deep expertise and experience that make them an excellent addition to the team. Working together, we will provide essential financing to this important part of America's affordable housing landscape."
Since its launch in 2018, the WDExpress team has closed Freddie Mac Targeted Affordable Housing (TAH) Loans and Fannie Mae Multifamily Small Loans, providing small balance financing for different property types, including market-rate properties, mixed-use properties, and manufactured housing communities (MHC). The small loan product serves as an excellent option for Walker & Dunlop's existing client base, as well as regional banks and mortgage brokers seeking Agency financing for their customers.
Walker & Dunlop, a leader in the multifamily space, was ranked the #3 Freddie Mac Optigo® Multifamily Lender, and the #1 Fannie Mae DUS® Lender in 2019 and has processed over $1.5 billion in small multifamily loans since 2016. For more information on Walker & Dunlop's small balance lending programs and financing options, please visit our Multifamily Small Loans website.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine's Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop's 850+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.
SOURCE Walker & Dunlop, Inc.