BOSTON, MA – January 8, 2018 – Berkadia today announced that it added 19 members to its Housing and Urban Development (HUD) underwriting team in 2017, increasing its overall HUD underwriting team size by 50 percent and underscoring its commitment to HUD financing. During HUD’s 2017 fiscal year, the team arranged more than $2.15 billion in financing on 152 separate transactions, surpassing year-over-year total production figures by roughly 40 percent, making Berkadia the top HUD originating lender.

“Our success as a HUD originator is a result of our ability to deliver exceptional and innovative results for our clients. Increasing our team size will enable us to continue uphold the highest standards of customer service and meet the increased demand for HUD products among non-traditional HUD borrowers. This added capacity is especially important for complicated new construction, healthcare and affordable projects,” said Steve Ervin, Head of HUD Production at Berkadia.

“The past year was a record breaker for Berkadia’s HUD team,” continued Mr. Ervin. “Notably, we experienced a 60 percent growth in HUD 221(d)(4) new construction and substantial rehabilitation loans, and we expect that trend to continue. As we look ahead to 2018, we anticipate that HUD’s loan program activity will increase as a result of their competitive fully amortizing, low rate, 35-40 year term loans. And with our talented team in place, we’re ready for it.”