Prudential Mortgage Capital Company
Prudential Mortgage Capital Company originates funds and services the loans they write. They are licensed across the United States and the District of Columbia. They are the one-stop source for commercial mortgage financing. Prudential can provide the advice, service and expertise needed to complete complex mortgage transactions. They will commit capital from multiple capital sources to provide the right financing for their clients. They also service the FHA’s (Federal Housing Administration) multifamily loan program through their Huntoon Paige Division. The FHA-insured financing provides long-term, fully amortizing, fixed rate, non-recourse loans for affordable rental developments. Their regional origination offices are staffed with highly qualified and experienced loan officers, underwriters and analysts who serve as a bridge between the FHA and their clients. The MAP (Multifamily Accelerated Processing) program reduces the amount of time it takes to obtain a mortgage commitment and close the loan.
Loans Funded by Prudential Mortgage Capital Company
Prudential has a broad range of products, loan terms and innovative structures to meet all of their clients commercial mortgage financing needs, for single properties all the way to cross-collateralized pools of properties. Loans typically start at $2 million though can differ by product. Loan products also differ by region. Some are listed below:
- Permanent Fixed Rate Loans
- Low-Leverage Loans
- Floating Rate Loans
- Interim Loans
- Credit Facilities
- Mezzanine Loans and Structured Transactions
- Forward Commitments
- Construction to Permanent Loans
- Acquisition/Bridge/Rehabilitation Loans
Prudential can commit capital to fund these loans from various sources. Capital may be obtained from Prudential’s own portfolio or general account, capital markets, Fannie Mae, the FHA, or institutional investors. This flexibility and availability of capital sources allows Prudential to meet their clients funding requirements at any time.
For 125 years Prudential has been funding commercial loans. Their first mortgages were on properties close to their own headquarters. At that time they did traditional life company/portfolio lending from Prudential's General Account, investing billions of dollars annually in commercial mortgages on behalf of their own investment portfolios. They also have been one of the largest, most successful agricultural investment managers in the country. Prudential continues to develop new and different types of commercial mortgage loan originations and to stand by their commitments. Prudential continued to fuel the economy by funding loans even in times of recession. Prudential’s full-service regional operations allow them to conduct underwriting and closing activities in the regions where their clients live and work on a nationwide basis. This gives them the advantage of local product knowledge with the financial backing of a nationwide giant.
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