Bellwether Closes 2015 with $4.5B
- Jan 07, 2016
Washington, D.C.—The commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment, Bellwether Enterprise Real Estate Capital, closed the year originating $4.5 billion in loans and servicing more than $12 billion in 2015 to finance a total of 566 loans, including 272 multifamily properties and 294 commercial properties in 37 states.
Bellwether was also named one of Real Estate Forum’s Fastest-Growing Companies in 2015 and executed several initiatives that will benefit clients and further the firm’s mission. Some of this initiatives include:
- Being designated by Fannie Mae as a Fannie Mae Delegated Underwriting and Servicing (DUS®) Lender. As a full lender, Bellwether is part of a network of 24 DUS lenders nationwide. These lenders retain a portion of the underlying credit risk, so they are authorized to underwrite, close and deliver most loans without pre-review, which allows for more efficient service for clients.
- Bellwether established an affordable housing group dedicated to providing flexible financing to multifamily clients across the nation. The group is led by Executive VP of Bellwether Enterprise and affordable housing veteran Philip Melton.
- In June, the company acquired the Charlotte-based Capital Advisors in a strategic business move that added more than $1 billion in annual loan volume and $1.75 billion in servicing.
“Over the past year, we have experienced significant growth and have made strides toward achieving our mission to become the best and most respected mortgage banking company in the United States,” said Ned Huffman, president of Bellwether Enterprise. “Our DUS Lender designation, establishment of the affordable housing group, and acquisition of Capital Advisors has allowed us to expand our market share throughout the country, ensure that our clients continue to receive the highest possible quality of service, and make a difference in the communities in which we serve.”
Picture courtesy of Enterprise