Love Funding Highlights

FHA Streamlines Approvals, While Toughening Up on Large Loans

The Federal Housing Administration (FHA) recently greased the wheels on its notoriously slow approval process, and the move is already paying dividends. At the end of December, the FHA issued new rules regarding which loans need to go through regional and national loan committees—a time-consuming process which has gummed up the agency’s bottlenecked pipeline. (via Multifamily Executive)

Rise in Home Construction Suggests a Turnaround

Home construction has finally begun a gradual comeback and should add to the nation’s economic growth in 2011, a turning point in the recovery from the Great Recession… ”When you have a slowdown in home sales and a growth in population, there’s a lot of pent-up demand for apartments,” says Mark Dellonte, president of Love Funding. (via Bloomberg Businessweek)

Love Funding Arranges Record $737.2 Million of FHA Multifamily and Healthcare Loans in Fiscal 2011

Love Funding announced that it arranged a record volume of FHA loans during the federal government’s fiscal year ended in September, making it the agency’s third-ranked multifamily and healthcare lender. Love Funding originated and underwrote $737.2 million in multifamily and healthcare business that closed in fiscal 2011, totaling 67 transactions, according to data released by the U.S. Department of Housing and Urban Development.