UNIONDALE, NY (April 19, 2012) – Arbor Commercial Mortgage, LLC, a national, direct commercial real estate lender, announced today the appointment of Joseph Donovan (top right photo) to Senior Vice President, Director of FHA Lending, in Arbor’s Boston, MA, office. Mr. Donovan will now oversee the expansion of Arbor’s targeted FHA Multifamily Lending business, which is strategically positioned to increase its origination volume through a dedicated commitment of financial and staffing resources in order to better serve Multifamily borrowers. Mr. Donovan reports to John Caulfield, (middle left photo) Chief Operating Officer.
Mr. Donovan’s specific scope of responsibilities includes oversight of the day-to-day operations of Arbor’s FHA loan production group, the expansion of Arbor’s FHA lending platform and the development of Arbor’s FHA origination and underwriting teams on a regional basis.
As an approved FHA Multifamily Accelerated Processing ("MAP") Lender, Arbor’s FHA group provides borrowers access to all FHA-insured Multifamily and Healthcare loan programs on an expedited basis. Arbor also provides Bridge loans that are underwritten to a permanent FHA loan take out.
“Arbor is making a significant commitment to expanding its dedicated FHA Group in response to an increase in borrower demand for FHA financing in the marketplace,” said Ivan Kaufman (lower right photo), Arbor’s Chairman and CEO.
“Over the past several years, Joe has played a critical role in expanding Arbor’s FHA lending business.
"His extensive experience in the origination and management of Multifamily and Healthcare lending transactions through HUD’s mortgage insurance programs will undoubtedly help to further strengthen Arbor’s position as a premier FHA Lender, while expanding Arbor’s footprint in the seniors housing market and the growing market for green and affordable housing.”
Mr. Donovan previously held the title of Senior Vice President, Production Management. In that role, he was responsible for overseeing the day-to-day operations of Arbor’s Fannie Mae, FHA/Ginnie Mae and commercial mortgage-backed securities production unit.
In addition, Mr. Donovan managed Arbor's initial evaluation, screening and analysis of all loan opportunities under the company’s agency product lines.
Mr. Donovan has 22 years of experience in the real estate finance industry. Since joining Arbor in 1993, he has held various underwriting and production management positions. Prior to Arbor, Mr. Donovan worked for the Federal Deposit Insurance Corporation (FDIC) and Commonwealth Mortgage Company.
Mr. Donovan earned his Bachelor of Arts degree from Canisius College. He has previously served as a board member of the National Multi-Housing Council.
Contact: Christopher Ostrowski, costrowski@arbor.com
No comments:
Post a Comment