NEW YORK, April 22, 2021 /PRNewswire/ — Lument ranked #6 on Affordable Housing Finance‘s Top 25 Affordable Housing Lenders of 2020 list with over $3 billion in closed transactions, doubling last year’s volume. The financing activity created or preserved affordable housing at over 140 communities containing nearly 20,000 units.
«We’re honored to play a part in addressing our nation’s affordable housing crisis,» said James Flynn, CEO at Lument. «Financing affordable housing is one of the most complicated areas of multifamily. I commend our dedicated team, as well as our clients, agency partners, and the Federal Housing Administration for coming together to provide creative solutions during a difficult year.»
Combined, the Top 25 lenders provided over $53.6 billion in loans for affordable multifamily housing communities in 2020, an increase of 31% from the 2019 total of $41 billion.
«The pandemic brought challenges, no doubt, but it actually impacted the affordable space less than some feared,» said Paul Weissman, head of affordable housing production at Lument. «Collections for our affordable portfolio have remained resilient, and the support from Fannie Mae, Freddie Mac, and HUD/FHA has been steadfast. I expect our volume to continue on its upward trajectory in 2021.»
Affordable Housing Finance‘s rankings include permanent and construction loans for multifamily housing communities serving renters up to 80% of the area median income (AMI). This is Lument’s first appearance on the list, although its predecessor firms made the Top 25 in prior years.
Lument, the combined company of Hunt Real Estate Capital, RED Capital Group, and Lancaster Pollard, was also recently named the #1 FHA Lender in the Mortgage Bankers Association’s (MBA) 2020 Commercial/Multifamily Annual Originations Rankings. Lument provides financing to meet all types of affordable housing needs, including forward commitments, preservation loans, and both taxable and tax-exempt executions.
ORIX Real Estate Capital Holdings, LLC, d/b/a Lument, is a subsidiary of ORIX Corporation USA. Lument is a national leader in commercial real estate finance, delivering a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, investment banking, and investment management solutions. Securities, investment banking, and advisory services are provided through OREC Securities, LLC, d/b/a Lument Securities, Member FINRA/SIPC. Investment advisory services are provided by OREC Investment Management, LLC, d/b/a Lument Investment Management. OREC Investment Management is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit www.lument.com.
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