Merchants Capital Names New National Sales Head
- Jul 22, 2020
Dwayne George, a mortgage banking veteran who most recently served as senior director at Freddie Mac, has joined Merchants Capital as executive vice president, national head of production, and will be leading the national mortgage banking company’s sales office team.
He previously held positions at Greystone and Northmarq. Most recently, he served as senior director of Target Affordable Housing Production, where he managed the Freddie Mac Optigo Lender Network. The platform consists of 19 lenders that originate about $6 billion of annual affordable housing production.
George will be working closely with Merchants’ sales office leads in New York, Minneapolis-St. Paul, Indianapolis and Chicago. He will be traveling extensively and meeting with loan originators and customers, training existing sales personnel, managing the sales process closely and recruiting for and growing new offices.
Michael Dury, president & CEO of Merchants Capital, said in a prepared statement it was essential to provide best in class leadership to help grow the company’s sales team across the country. He noted many of the team members already knew George from his time at Freddie Mac and expected that would lead to a smooth transition. Dury also stated Merchants’ customers would benefit from George’s “thoughtfulness and creativity” combined with the company’s products and its expertise with the GSEs and Federal Housing Administration.
George said in prepared remarks his private sector experience and at Freddie Mac fueled his approach to multifamily finance that has a hyper-focus on the customer experience. He said the Merchants’ team shares his vision to expand the mortgage banking firm’s national affordable multifamily housing presence in the market.
Freddie Mac Duties
Prior to joining Merchants, George was also a senior underwriter in Freddie Mac’s Target Affordable Housing Group, where he was responsible for obtaining and granting credit approvals for LIHTC Preservation, Section 8, Bond Credit Enhancements, Moderate Rehabilitations and Extended Use loans totaling $300 million to $400 million in annual production. In his first three years at Freddie Mac, he led the purchases of $920 million of Freddie Mac Target Affordable originations, which included Freddie Mac’s largest Target Affordable Housing Capital Markets Execution (CME) transaction, the first Short Term Bond Execution and the first Rental Assistance Demonstration (RAD) conversion.
A graduate of Goucher College with a BA degree in business management, George also holds a master’s degree in real estate from Georgetown University.