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Viewpoints | January 23, 2019

Breaking Records, Going Further

John Cannon
Article By
John Cannon, SVP Production & Sales*

A year is more than a collection of days — it’s a way to measure progress from one point to another. We had another outstanding year and I encourage all our lenders, servicers, investors, borrowers and staff to enjoy a quick moment of pride from all that we accomplished together.

First, and most significantly, let’s start with our Volume.  We had another record-breaking year with $78 billion in multifamily production volume. That breaks down to an impressive 860K plus units – pushing closer to a million homes for individuals and families who are the workforce of our country.

Last year saw several large deals, but I’d be remiss to leave out the smaller, bread-and-butter deals that make up the bulk of our business. Together they show the diversity of our financing and our flexibility to adapt to many different types of transactions.

I am so proud of the joint efforts of our team and yours. Below are some of the business line highlights from this year.

Our Conventional business introduced Mezzanine and Social Impact financing that bring a new spin on solving the affordability crisis with private capital, as well as enhancements like external pricing color and grids, to make it easier to work with us. They also moved the dial in our Structured Solutions group by introducing new enhancements such as flexibility to our Structured Pool Transaction. These new offerings, together with our legacy products, helped us bring in $59.5 billion in volume.

Small Balance Loans (SBL)
SBL kicked off the year with mobile inspections through their innovative app. They introduced new program changes by adjusting market tier categories in certain cities and launched phase one of Linked Loans. All of this while closing on several monster portfolio deals, which lead to an overall total of $7.4 billion in volume.

Seniors Housing
Our Seniors business grew well with $3.2 billion in UPB, which is a 33 percent increase over 2017. We added fixed and floating rate debt and other flexibility to the Structured Pool Transaction program, which led to the first of several Seniors deals using that offering in 2018.

All things considered, 2018 was a fantastic year. I appreciate your efforts in making us the leading multifamily financier once again. Now let’s make this new year even better. 

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