Carmel, Indiana-based mortgage banking company Merchant capital provided approximately $ 4.7 billion in funding in 2020, nearly half of which was dedicated to supporting the preservation and development of affordable housing across the country.
This achievement marks a historic milestone for the company, as Merchants Capital’s total year-over-year production increased 106%. While the volume of its Federal Housing Administration loans has remained stable, the production of the company’s government-sponsored businesses through Fannie Mae and Freddie Mac has increased by 104%, demonstrating the evolution and expansion of the platform. -GSE form of Merchants.
“We are very focused on improving our national presence through continued strategic investments in our construction, equity and debt platforms,” said Dwayne George, Executive Vice President and National Head of Production at Merchants Capital. “We believe we can continue to be successful because we have a team of dynamic individuals determined to be the best capital advisors in the business. At a time when many of us haven’t seen each other for over a year due to COVID-19, all of our staff have remained optimistic and ambitious. Everyone at Merchants Capital has done an amazing job helping us achieve a banner year. “
Merchants Capital’s bridging loan product has seen an increase of over 100% in 2020, proving Merchants’ overall resilience and execution capacity even in the midst of the pandemic as many other banks and lenders withdrew from the market. .