|
|
1/14/15
|
Sabal Financial Group has been approved 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 $1mil to $5 mil 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 interest-only options, low interest rates, non-recourse, 80 percent loan-to-value and flexible pre-payment options. Competitive pricing and streamlined loan processes are also cornerstones of the new program.
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’s participation in the Freddie Mac Multifamily Small Balance Loan offering will commence immediately, with loan processing operations occurring as of December 17.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate