Greystone Reaffirms Position as Top Commercial Lender for HUD-Insured Loans
Greystone’s FY2020 Volume for Multifamily and Healthcare Loan Firm Commitments Totals $3.5 Billion, Ranking #1 with 14% Market Share Among All Lenders
Greystone announced it ranks #1 based on volume of multifamily and healthcare Firm Commitments issued by the U.S. Department of Housing and Urban Development (HUD) for the agency’s 2020 fiscal year ending September 30, 2020. During this period, Greystone originated and obtained Firm Commitments for 191 HUD-insured loans totaling $3.48 billion, representing 14% overall market share – the largest of all commercial lenders – for HUD-insured multifamily and healthcare loans.
Greystone ranked highest based on dollar volume for Firm Commitments issued under HUD’s MAP program with $2.4 billion in origination volume for multifamily properties, as well as HUD’s LEAN program, totaling $1.1 billion in origination volume for healthcare properties, which include skilled nursing and assisted living facilities. In healthcare finance, Greystone’s HUD loan volume for this period represents 26% market share of all lenders.
Both HUD’s and Greystone’s overall lending volume increased dramatically over the past year. HUD’s firm commitment volume for multifamily and healthcare in FY2020 increased by approximately 58% over FY2019 while Greystone’s overall lending volume for multifamily and healthcare properties increased by nearly 120% during the same period.
The growth in HUD’s production volume and Greystone’s consistent success in leading the industry for HUD-insured lending can be attributed to a number of external and internal factors. With interest rates sustained at some of the lowest levels in history, Greystone has continued to focus on customer service and the highest-level execution for its clients.
“The demand for HUD-insured loans has been incredible this past year, and our team has stepped up to deliver to clients the best execution for this highly attractive financing option across the multifamily and healthcare sectors,” said Nikhil Kanodia, head of Greystone’s FHA lending group. “We want to thank HUD as well as our valued clients for their confidence in us, and for their continued partnership as we navigate the increased demand in FHA loans.”