Carmel, Indiana-based mortgage banking company Merchants Capital provided about $4.7 billion in financing in 2020, nearly half of which was dedicated to supporting affordable housing preservation and development across the country.
This achievement marks a historic company milestone, as Merchants Capital’s total year-over-year production saw an increase of 106 percent. While its Federal Housing Administration lending volume remained steady, the company’s Government-Sponsored Enterprise production through Fannie Mae and Freddie Mac increased 104 percent, demonstrating the evolution and expansion of Merchants’ GSE platform.
“We are hyper-focused on advancing our national footprint through continuous strategic investments in our construction, equity and debt platforms,” said Dwayne George, Executive Vice President and National Head of Production at Merchants Capital. “We are confident that we can continue to succeed because we have a team of dynamic individuals driven to be the best capital advisors in the business. At a time when many of us haven’t seen each other in more than a year due to COVID-19, our entire staff has remained optimistic and ambitious. Everyone at Merchants Capital has done a remarkable job of helping us achieve a record year.”
Merchants Capital’s bridge loan product experienced an increase of more than 100 percent in 2020, proving Merchants’ overall resilience and ability to execute even amid the pandemic when many other banks and lenders were pulling out of the market.