Cleveland-based Bellwether Real Estate Capital LLC has been approved as a Freddie Mac Multifamily Program Plus Seller/Servicer. This designation, shared by 26 other firms in the country, authorizes Bellwether to sell and service loans secured by multifamily properties in Ohio, Kentucky and western Pennsylvania.
Freddie Mac introduced its Program Plus network of multifamily mortgage lenders in 1993. Program Plus lenders must meet Freddie Mac's requirements for both origination and servicing of multifamily loans.
‘Our Program Plus status with Freddie Mac not only enables us to provide the most efficient delivery of capital to our customers, but offers unparalleled access to a wide variety of superior multifamily loan products," says Bellwether Director Sara Behrman.
Bellwether recently worked with Freddie Mac to close a $16.5 million loan for BRG Apartments, operator of more than 6,000 apartment homes in 30 locations throughout Greater Cincinnati.