FOR IMMEDIATE RELEASE Contact: Julie Fornaro | Meghan Curtiss

Transcription

FOR IMMEDIATE RELEASE Contact: Julie Fornaro | Meghan Curtiss
FOR IMMEDIATE RELEASE
Contact: Julie Fornaro | Meghan Curtiss
IDEA HALL
562-587-3957 | 714-263-8725
[email protected] | [email protected]
Freddie Mac Approves Sabal Financial as a Seller/Servicer for the Small Balance
Loan Offering
Sabal will be the fifth Seller/Servicer to join the Program and the Only Utilizing the
proprietary SNAP™ Technology
Newport Beach, Calif. – January 7, 2015 – Sabal Financial Group, L.P., a diversified
financial services firm specializing in real estate, lending and banking, announced today
its approval as a Seller/Servicer in Freddie Mac’s new Small Balance Loan offering,
which offers debt solutions for multifamily acquisitions and refinancing. Just one of six
eligible Seller/Servicers approved by Freddie Mac for the new program, Sabal Financial
will offer non-recourse mortgages ranging from $1 million to $5 million to eligible
borrowers nationwide. The firm is the only participant in the program employing the
proprietary SNAP™ web-based technology.
“As a national commercial real estate lender and a company whose core business
interests focus on the small balance loan arena, Freddie Mac’s new Small Balance Loan
offering is a natural fit for Sabal Financial,” said founder and CEO Pat Jackson. “Our
expertise aligns well with Freddie Mac’s goals for this new multifamily debt program.”
The Freddie Mac Multifamily Small Balance Loan Program is designed to enable
liquidity, stability and certainty of execution in the country’s affordable rental housing
marketplace. Applicable properties include conventional multifamily housing of five units
or more with 90 percent or more occupancy, including properties with tax abatements
and Section 8 vouchers. Notable components of the program include full-term interestonly options, low interest rates, non-recourse, 80 percent loan-to-value and flexible prepayment options. Competitive pricing and streamlined loan processes are also
cornerstones of the new program.
“Sabal Financial is a great Seller/Servicer addition for us,” said David Brickman,
executive vice president of Freddie Mac Multifamily. “The firm was selected for its
demonstrated expertise in commercial real estate, particularly in the small balance
finance market, as well as for its operational efficiency.”
Sabal Financial will utilize its proprietary SNAP™ technology to ensure efficient
processes during pricing, underwriting, closing and funding of loans through Freddie
Mac’s Small Balance Loan Program. A robust web-based platform, SNAP™ generates
live quotes and automates portions of the application and closing process, ensuring
speed to finance.
“Sabal Financial has placed technology at the center of its business processes from the
start as a means to enable efficiency, speed and scalability in operations,” added
Jackson. “We created SNAP™ specifically for our lending businesses and it has allowed
us to dramatically reduce our funding cycle while also providing our broker clients with a
number of additional benefits.”
Sabal Financial’s participation in the Freddie Mac Multifamily Small Balance Loan
offering will commence immediately, with loan processing operations occurring as of
December 17.
About Sabal Financial
Sabal Financial Group, L.P. is an international diversified financial services firm
specializing in real estate, banking and lending headquartered in Newport Beach,
California. The firm’s flagship Principal Investments business has established a strong
foothold in the distressed debt arena, bringing nearly $7.4 billion in real estate assets
under management since the firm’s inception in 2009. The Sabal Financial platform also
operates a number of complementary businesses including Real Estate Capital
Solutions, Advisory Solutions, Third-Party Servicing and Sabal Europe. For more
information, visit sabalfin.com.
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