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Pillar Multifamily Announces Approval as a Freddie Mac Program Plus and Targeted Affordable Housing Seller Servicer

January 31, 2014

By a News Reporter-Staff News Editor at Real Estate Weekly News -- Pillar Multifamily, LLC ("Pillar"), an affiliate of Pillar Financial, LLC ("Pillar Financial") and Guggenheim Partners, LLC ("Guggenheim") announced that it has been approved as both a Freddie Mac Multifamily Program Plus() and Targeted Affordable Housing Seller/Servicer. In conjunction with these approvals, Pillar acquired approximately $500 million in Freddie Mac multifamily loan servicing under an approved transfer of servicing from ColumbiaNational Real Estate Finance, LLC ("ColumbiaNational Real Estate Finance"), an independent mortgage banking firm. The companies have also entered into a strategic alliance, operating under the Pillar name, to continue to service and grow all segments of Pillar's agency businesses. "Pillar is very happy to enter these relationships with Freddie Mac and ColumbiaNational," said Anand Gajjar , Chief Executive Officer of Pillar. "With this transaction and the recently announced Cohen Financial deal, Pillar and its affiliates now offer borrowers direct access to Freddie Mac , Fannie Mae , FHA/HUD, CMBS and life-company loans, as well as service over $22 billion for a wide variety of lenders. Additionally, we are particularly focused on the affordable housing sector, and have one of the largest teams in the country, headed by Justin Ginsberg and Andy Weil ," he added. "We are excited about our affiliation with Pillar and its related companies. It allows us to broaden our multifamily reach, adding Fannie Mae and FHA Healthcare financings to our business lines," said Louis S. Weeks III , Managing Partner of ColumbiaNational. Loan inquiries should be directed to Scott Park at scott.park@pillarfinance.com for conventional business and Justin Ginsberg or Andy Weil at justin.ginsberg@pillarfinance.com or andy.weil@pillarfinance.com for Targeted Affordable business. Keywords for this news article include: Real Estate, Guggenheim Partners Llc . Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Real Estate Weekly News


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