UNIONDALE, NY, Oct. 15, 2009– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,460,000 loan under the Fannie Mae DUS® Loan product line for the 257-unit complex known as Windemere Apartments (top right photo) in Houston, Texas.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05 percent.
The loan was originated by Matt Norman, Vice President, in Arbor’s full-service Dallas, TX lending office. “This transaction involved Arbor assisting an existing client with a new acquisition designed to bolster their portfolio,” said Norman.
Huntington Cove Townhomes in Farmers Branch, TX Obtains $5.19 Million
UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,190,000 loan under the Fannie Mae DUS® Loan product line to refinance the 100-unit complex known as Huntington Cove Townhomes in Farmers Branch, TX. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.
The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor provided attractive, non-recourse financing that allowed the borrower to retire his existing recourse financing from a local bank,” said Porterfield. “We look forward to continuing to grow our financial partnership with this client.”
Arbor Appoints Thomas Dodge to FHA Chief Underwriter
UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and leader in the commercial real estate finance industry, has announced today the appointment of Thomas Dodge to FHA Chief Underwriter. He reports to Joseph Donovan, (bottom left photo) Senior Vice President, Production Management.
Mr. Dodge oversees the underwriting of multifamily and healthcare loans under the FHA Mortgage Insurance Programs, as well as the training and development of FHA/MAP staff. Additionally, he will ensure the Company’s compliance with HUD, MAP and LEAN requirements.
Mr. Dodge has more than 30 years of experience in commercial real estate finance, with a strong focus on Underwriting. Prior to joining Arbor, Mr. Dodge served as Vice President, Senior Underwriter with Neace Lukens Capital. Previously, he held posts with Bedford Lending Corp., First NH Bank and Shawmut Bank.
Mr. Dodge earned a Bachelor of Science degree in Management from C.W. Post College. He resides in Hooksett, NH.
Contact: Ingrid Principe, iprincipe@arbor.com, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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