CWCapital, the multifamily financing subsidiary of CW Financial Services, has developed a new small-balance lending platform that will offer borrowers access to Fannie Mae loan programs designed for multifamily loans up to $5 million.
Targeting transactions from $1 million to $5 million, CW's new platform ‘streamlines the underwriting process, providing borrowers an efficient, competitive and reliable execution,’ the company says. Last year, the firm acquired the servicing rights for a $2.6 billion small-loan portfolio consisting of approximately 2,200 multifamily loans. The new lending platform will serve this client base, as well as develop additional sources of business, initially in West Coast markets.
Fred Nelson, who formerly held positions with Washington Mutual, Berkshire Mortgage Finance, Bankers Mutual and Fannie Mae, is leading the new CW team with the assistance of Marlene Burk, who will serve as chief underwriter.