Former Freddie Mac Multifamily Executive chosen to lead RED’s Multifamily Small Loan Group as part of the Firm’s overall Growth and Product Diversification Strategy
COLUMBUS, Ohio--(BUSINESS WIRE)-- Scott Croul has been named Senior Managing Director and Head of Small Balance Originations for RED Mortgage Capital, LLC, the Mortgage banking arm of comprehensive capital provider RED Capital Group LLC.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180308006139/en/
Scott Croul, Senior Managing Director and Head of Small Balance Originations, RED Mortgage Capital, LLC (Photo: Business Wire)
Mr. Croul joined RED on February 12, 2018, and brings 30 years of mortgage lending experience across all institutional property types to RED with extensive background in multifamily lending. He joins RED from Freddie Mac Multifamily where he was Senior Managing Director and head of production and sales for the Western Region, responsible for the agency’s conventional multifamily business in the region and the region’s four production offices. Croul was previously Managing Director and head of Underwriting and Credit for Freddie Mac’s Western Region. He brings strong expertise in loan origination, strategic growth and leadership, along with deep industry relationships.
At RED, Croul is tasked to grow the company’s national Freddie Mac and Fannie Mae small balance lending platform, expand its national presence and position RED’s Small Balance Loan Group into an industry leader.
“We continue to execute on our growth strategy with the most recent hire of Scott Croul to the firm,” stated Ted Meylor, Chairman and CEO of RED Capital Group. “With his vast industry experience—particularly with Freddie Mac—he is the perfect choice to lead our Small Balance Loan team and increase RED’s market share.”
“Scott is the consummate professional. His product knowledge and commitment to customer satisfaction will greatly enhance our growth and success within the Small Balance Loan market,” stated Trent Brooks, President and National Head of Production for RED.
Prior to joining Freddie Mac Multifamily, Mr. Croul led regional operations at John Hancock Real Estate Finance Group and was a mortgage banker at predecessor companies to Berkadia, CBRE and Hunt Mortgage. According to Croul, RED is well positioned to benefit from the rapid expansion in small balance multifamily lending created by the introduction of GSE products, offering increased liquidity to this critical, substantial and underserved segment of the nation’s workforce housing supply.
About RED CAPITAL GROUP, LLC
Recognized for its industry expertise, innovative and comprehensive structures, and consistently high rankings, RED Capital Group, LLC has provided over $74 billion of integrated debt and equity capital since 1990 to the seniors housing and health care, multifamily, affordable, and student housing industries through three operating companies.
RED Mortgage Capital, LLC is a Fannie Mae DUS® and MAP- and Lean-approved FHA lender with a mortgage servicing portfolio nearly $17 billion. RED Capital Markets, LLC (MEMBER FINRA/SIPC) is active in the distribution of Fannie Mae and Ginnie Mae Project MBS, and provides structuring, underwriting, placement, and advisory services for tax-exempt and taxable housing and health care bonds.
RED Capital Partners, LLC provides proprietary debt and equity solutions, and asset management in a range of forms, including subordinated gap and bridge loans. RED Capital Group, LLC is a subsidiary of ORIX USA Corporation. For more information on RED Capital Group, LLC, visit our website at: http://www.redcapitalgroup.com
DUS® is a registered trademark of Fannie Mae
View source version on businesswire.com: http://www.businesswire.com/news/home/20180308006139/en/
Source: RED Capital Group LLC