David Durning Senior Managing Director Prudential Mortgage Capital Company Chicago
David Durning has a big job: As senior managing director in the Chicago office of Prudential Mortgage Capital Company, Durning oversees loan production not just in the Midwest but across the entire country and across all of his company’s capital sources. Durning also oversees the company’s full range of multi-family lending operations, operations that include Fannie Mae DUS, Freddie Mac and FHA lending and affordable housing.
So far, though, Durning is handling this job with skill. In 2007, Prudential Mortgage Capital, thanks in part to Durning’s work, originated more than $14.5 billion in new loans. And through it all, Durning has been instrumental in helping Prudential develop a wide range of agency and proprietary products in the FHA-lending and affordable-housing arenas.
Like most successful commercial real estate professionals, Durning posses no secret formula for his success. Rather, he relies on the rather old-fashioned values of hard work and honesty. Durning’s peers point to the lending veteran’s ability to close even the most difficult of loans and his willingness to work countless hours to ensure that his clients receive the best service, and the best deal, possible. No one in the commercial lending business outworks Durning, say his peers.
Durning’s combination of hard work, strong ethics and skill have provided him with a stellar career at Prudential. Since joining the company in 1988, Durning has risen steadily through the ranks, taking on assignments that have grown ever more challenging.
Again, though, the growing role within Prudential has proven a good fit for Durning, who continues as top-producer at the company.
Of course, Durning is no newcomer to the commercial lending industry. There are few challenges that he hasn’t run into, and overcome, during his long career. Before coming to Prudential, for instance, Durning shone as a lending officer for Chemical Bank and a corporate finance associate for Shearson Lehman.
Durning has also found time to give back to the career that has been so good to him. He serves on the executive board of the National Multi-Family Housing Council and the Fannie Mae DUS Advisory Council. He is also a member of the Urban Land Institute and the Association for Investment Management and Research.
