Freddie Mac Designates Twelve New Seniors Housing Seller/Servicers
September 15, 2011
With the growth of the country's aging population, our Seniors Housing portfolio in excess of $6 billion, and the eligibility for securitization of Seniors Housing loans, we recently reaffirmed our commitment to financing Seniors Housing through a new Seller/Servicer designation. To align with this change in our Seniors Housing program, Seller/Servicers have been undergoing a rigorous qualifications process since June 30, 2011.
Twelve Seller/Servicers have been approved for the new Seniors Housing Designation and are listed on the Freddie Mac website. Effective September 6, 2011, the following Seller/Servicers are permitted to sell and service Freddie Mac conventional loans secured by multifamily Seniors Housing properties on a nationwide basis.
- Berkadia Commercial Mortgage, LLC
- CBRE Capital Markets, Inc.
- CW Capital, LLC
- Grandbridge Real Estate Capital, LLC
- KeyCorp Real Estate Capital
- NorthMarq Capital
- Oak Grove Commercial Mortgage
- PNC Real Estate Finance
- Prudential Johnson Apartment Capital Express
- Red Capital Group
- Walker & Dunlop
- Wells Fargo Multifamily Capital
"There are unique skills required to originate these types of specialized loans for independent living, assisted living, memory care, and rental continuing care property loans," said Steve Schmidt, Freddie Mac National Seniors Housing director. "The Seniors Housing designation qualification process ensures that our Seniors Housing product is well-managed from a credit and risk standpoint."
Applicants for the new Seniors Housing designation have to prove that they have specific GSE loan origination and underwriting experience for Seniors Housing properties. Seller/Servicers who do not presently meet all the new requirements may undergo the qualification process for the new Seniors Housing designation with Steve Schmidt as a sponsor.
Freddie Mac has been providing financing for seniors housing since 1998 and has a team of 16 experienced professionals devoted to serve this growing industry segment.