Eastern Union transaction flow now exceeds pre-COVID-19 rate
NEW YORK, May 3, 2021 / PRNewswire / – Eastern Union, one of the nation’s largest commercial real estate finance companies, is now submitting commercial mortgage applications at a rate exceeding pre-COVID-19 levels.
In March and April 2021, new applications in the Eastern Union pipeline exceeded 100 loans in each of the two months. This figure exceeds the pace of transactions implemented during the same months in 2020, before the moment when the COVID-19 pandemic had recorded its monumental negative impact on the market.
Illustrating the company’s growing national reach amid the post-COVID recovery, Eastern Union new loans pending in April represented 19 states nationwide, with 50 lenders participating.
Among the loans pending in April was a $ 12.9 million bridging loan in Texas native Ruth freeze, a newly trained principal who had only 21 working days in the company Memphis office at time of request.
Ms Freeze is part of the company’s multi-family group, which last year reset market prices by offering a quarter-point fee – with no back-end fees – for refinancing properties backed by Fannie Mae or Freddie Mac.
“With thanks to God, Eastern Union the origins pipeline is stronger now than it was before COVID-19 hit the scene, ”said Ira Zlotowitz, president and co-founder of Eastern Union. “This is happening less than a year after our company switched to going mostly virtual – and also going national with the launch of our multi-family group.
“With the stimulus and vaccinations behind us and with the country reopening, banks are feeling more comfortable and generating renewed competition for commercial mortgages,” he said. “We are experiencing a spring push.”
Ms. Freeze received training on the Eastern Union “ABC21” Broker Training Program, a 21-day course that provides participants with a comprehensive understanding of the commercial real estate industry. ABC-21 training, which includes C-suite mentoring and hands-on training, teaches participants about mortgages, underwriting, sales, credit, bridging loans, transaction structure and other dimensions of the industry. .
“Ruth Freeze’s This achievement reflects her skills as a mortgage originator as well as the quality of the ABC-21 program, “said Zlotowitz.” We are delighted with Ruth’s success and look forward to her future accomplishments as a member. of Eastern Union team.”
Those interested in learning more about the commercial real estate industry through the ABC21 training program can visit this link. For those who are interested in a potential job with Eastern Union, which includes the training program, please visit here.
About Eastern Union
Founded in 2001, Eastern Union is a leading national commercial mortgage brokerage firm. It employs over 125 real estate professionals and closes on average $ 5 billion in transactions annually.
Eastern Union leverages relationships with lenders and market knowledge to obtain the best rates and terms available. Eastern Union, headquartered at new York, closes transactions of all sizes on United States. It secures the financing of all types of assets. Transactions – which can include multi-state and multi-site portfolios – encompass both conventional and structured finance. In 2020, Eastern Union Multi-Family Group has reset market prices by offering a quarter point fee – with no back-end fees – for refinancing properties backed by Fannie Mae or Freddie Mac. Capital introductions are managed by Eastern Union affiliate, Eastern Equity Advisors.
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For more information, visit www.easternunion.com
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SOURCE Eastern Union