PaymentsArbor Realty Trust, Inc. co-funds Fannie Mae SARM loans of 2022

PRNewswire PRNewswireDecember 27, 20224 min

Arbor Realty Trust, Inc. (NYSE: ABR ), a leading multifamily and commercial mortgage lender, recently co-funded one of the largest Fannie Mae Structured Adjustable-Rate Mortgage (SARM) loans of 2022 in support of New York-based Emerald Empire’s acquisition of Pangea Properties’ Chicago portfolio.

The deal was primarily financed by Arbor Realty Trust. NewPoint Real Estate Capital also participated in the transaction.

The sale spans several hundred properties and thousands of units, of which 97% are considered “affordable” at 60% of Area Median Income (AMI). The deal also provides career continuity for Pangea Properties’ Chicago-area employees, who will be kept on to manage the properties for Emerald.

“The transaction is representative of the strong social commitment to the provision and preservation of affordable housing shared by both Fannie Mae and Arbor Realty Trust, as well as by Emerald Empire,” said Ivan Kaufman, Founder, Chairman and CEO of Arbor Realty Trust. “We have been a Top 10 Fannie Mae DUS® Multifamily Lender for more than a decade, and the longstanding relationships across our teams equip us to close major transactions in support of housing affordability for urban families.”

To support the mission-driven goal of creating equitable financial opportunities for renters by sharing their on-time rent payments with the three major credit bureaus for incorporation in the renters’ credit profiles, this portfolio of properties will become participants in Fannie Mae’s innovative Multifamily Positive Rent Payment Reporting pilot program.

“Fannie Mae is proud to have worked with Arbor Realty Trust on this impactful transaction” said Michele Evans, Executive Vice president and Head of Multifamily, Fannie Mae. “In addition to providing affordable housing in Chicago, this deal also provides positive rent payment reporting, offering residents opportunities to build credit.”

For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News

PRNewswire

PRNewswire

Leave a Reply

Your email address will not be published. Required fields are marked *

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications



FintecBuzz, 2023 © All Rights Reserved