NEW YORK, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced it has earned Program Plus® status from Freddie Mac (OTCQB:FMCC) Multifamily. The new designation enables Greystone, a leading multifamily and healthcare lender, to offer loans of all sizes for multifamily properties in New York, New Jersey and Connecticut.
Greystone has been a Freddie Mac Multifamily Targeted Affordable Housing Seller / Servicer, providing financing for affordable housing since 2011. Greystone began offering Freddie Mac seniors housing and assisted living loan products in 2013, and the Agency's Small Balance Loan product earlier this year, which enables acquisition and refinancing for properties between $1 million and $5 million. The new Program Plus® license completes a full spectrum of multifamily property financing options available from Greystone with Freddie Mac.
"We could not be more thrilled to add the Freddie Mac Program Plus® status to our stable of multifamily loan offerings," said Joe Mosley, executive managing director of Freddie Mac and Fannie Mae lending at Greystone. "Adding to our existing agency lending offerings, we are pleased we can now offer a full spectrum of complete GSE financing products for multifamily property owners and acquirers."
David Brickman, Executive Vice President of Freddie Mac Multifamily, said, "Greystone's reputation for identifying qualified borrowers and delivering expert execution of our multifamily loan products gives us complete confidence that they will serve as a long-lasting partner for years to come."
"We are very excited to substantially expand our relationship with Freddie Mac and to continue to build on our partnership," added Greystone's agency lending CEO, Billy Posey.
Greystone provides mortgage finance solutions across multiple platforms, including FHA, Fannie Mae, Freddie Mac, USDA, CMBS, bridge, mezzanine and other proprietary loan programs. In 2013, Greystone ranked #1 in combined multifamily and healthcare FHA lending; #1 in Fannie Mae Small Loans and #3 in Affordable Housing volume as a Fannie Mae DUS® lender; and as a top-5 Freddie Mac lender for seniors housing.
About Freddie Mac
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac's blog FreddieMac.com/blog.
Greystone is a financial services and private investment group whose original core business is multifamily real estate lending. Over the years, Greystone has added business lines that are related to, and natural extensions of, its core business. Headquartered in New York with offices across the U.S., Greystone is active in three major business segments: Mortgage Finance, Healthcare and Real Estate. Greystone's mission is to apply unparalleled creativity while modeling corporate compassion. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information about Greystone's multifamily and healthcare financing solutions please visit http://www.greyco.com.