The Mortgage Banking Group is a national leader in mortgage financing for conventional multifamily properties across the United States. We originate and service loans for different types of multifamily properties. The majority of our loans are structured for funding through the Fannie Mae DUS Program, Freddie Mac Program Plus, and FHA. In addition, Centerline offers other financing when an agency execution does not suit a client’s needs, such as bridge financing and financing for commercial and affordable housing properties. We can provide preferred equity through capital partners.
Our services include:
- Conventional loans for multifamily properties, manufactured housing, and student housing.
- Bridge loans for transitional multifamily assets throughout the US that meet GSE criteria.
- Our CMBS Loan Program offers non-recourse, first mortgage financing for acquisition or refinance needs for stabilized, multifamily and other commercial properties.
- Centerline and LEM Capital are partners providing senior equity and senior debt to qualified sponsors who are pursuing value-add multifamily investment opportunities.
- The Small Loan Division originates conventional loans through a Fannie Mae execution for clients requiring debt of $5.5 million or less.
Customers We Serve
Centerline serves a wide range of clients depending on the type of financing required. For conventional loans, we work with direct borrowers and select correspondents, with a focus on middle market property owners and super-regional privately owned real estate firms. For small loans, we work through our correspondent relationships in selected geographic markets.
- $12.4 billion mortgage servicing portfolio
- $6.8 billion Fannie Mae
- $2.9 billion Freddie Mac
- $341 million FHA and others
- $2.4 billion bond portfolio
- Closed $286 million small loan deals in 2012
- Closed $108 million Freddie Mac CME 14-property financing transaction
- Closed $55 million bridge loan deal
- Re-entered CMBS market
- Forged partnership with LEM Capital to provide senior equity and senior debt for conventional multifamily properties
Centerline helps borrowers obtain permanent financing for acquiring or refinancing multifamily buildings using an agency execution that provides competitive proceeds, rates and flexibility via its supplemental and substitution features.
Centerline is a licensed Fannie Mae DUSTM lender, a Freddie Mac Program PlusTM seller/servicer and an FHA MAP Lender. Centerline’s agency lending professionals provide you with centralized negotiation, coordination and pricing through long- standing relationships with Fannie Mae, Freddie Mac and FHA.
Existing market rate and affordable apartment buildings, cooperatives, student housing and manufactured housing communities.
Fannie Mae Products
As a Fannie Mae DUSTM lender, we offer fixed rate or adjustable financing for acquisition and rehabilitization, moderate rehabilitization, prestabilized properties, permanent forwards, student housing and manufactured housing communities. Terms range from 5 years to 30 years and may be fully amortizing, or contain partial or full interest-only options. Through this program we offer first mortgage financing and subsequent supplemental (subordinate) financing and/or substitution of single assets.
Freddie Mac Products
As a Freddie Mac Program PlusTM seller/servicer, Centerline offers financing for fixed and adjustable rate conventional and affordable mortgage products. We provide financing for stabilized, moderate rehabilitization, prestabilized properties, permanent forwards, student housing, cooperatives and manufactured housing communities. Terms range from 5 years to 30 years and may be fully amortizing or contain partial or full (interest-only) options. Through this program we offer first mortgage financing and subsequent supplemental (subordinate) financing.
FHA MAP Product
Multifamily Accelerated Processing (MAP) is a national fast-track processing system for the FHA multifamily mortgage insurance programs. As an authorized FHA MAP lender, Centerline is responsible for preparation of most documents required for an application for mortgage insurance, and for making a recommendation to the FHA field offices based upon Centerline’s processing and underwriting.
- Loan types: New Construction, Substantial Rehabilitation, Refinance, and Acquisition
- Term: Up to 40 years
- Interest Rates: Fixed rate
- Spread: Market
- Amortization: Up to 40 years
- Prepayment: Fixed step-down prepayment structure
- Pledge: First mortgage
- Fees: Market
- Recourse: Non-recourse except for customary environmental, malfeasance and fraud carve-outs.
- Reserves: Taxes and insurance; replacement reserves.
- Loan Costs: Borrower is responsible for all legal and third-party fees.