IRVING, TEXAS – October 12, 2016 – ReadyCap Commercial, LLC (ReadyCap), a leading nonbank commercial real estate lender offering conventional, bridge, SBA and Freddie Mac SBL financing, today announced it surpassed over $300 million in Freddie Mac SBL production. ReadyCap is the real estate origination subsidiary of Sutherland Asset Management Corporation (Sutherland), a full-service real estate finance company managed by Waterfall Asset Management. Freddie Mac SBL is a sought-after program providing multifamily financing from $1 to $5 million; ReadyCap is one of the original seller/servicers of the product. Brokers and borrowers alike praise the lender for its exceptional service, professionalism and streamlined process for the GSE loans.
In April, ReadyCap surpassed the $1 billion funded mark in 36 months, of which Freddie Mac SBL production played a vital role.
“We appreciate our partnership with ReadyCap and their commitment to the small loan market,” said Steve Johnson, Freddie Mac’s senior director of small balance lending. “They’ve invested the time, resources and staff to reach this milestone in a short amount of time.”
ReadyCap continues to grow in the small balance niche, building upon relationships in the market with brokers and larger strategic partners that rely upon the trusted lender to source Freddie Mac SBL deals for multifamily and mixed-use owners.
Currently, ReadyCap through Freddie Mac SBL is offering special rate reductions for uncapped business until the end of the year.
50 bps discount in Standard markets for all 10/7 (hybrid or fixed)
25 bps discount in Top markets for all 5 year (hybrid or fixed)
To receive the special pricing, properties must meet affordability requirements relative to the market. Brokers should send ReadyCap rent roll(s) for review to evaluate eligibility. Special terms are available for all loans quoted until the end of 2016.
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About ReadyCap Commercial, LLC
ReadyCap Commercial (www.myreadycap.com), headquartered in Irving, Texas, is a nonbank, portfolio lender offering financing for small-balance commercial investment, multifamily, and bridge loan programs nationwide. ReadyCap and its affiliates have offices in Orange County, California; Dallas, Texas; Charlotte, North Carolina; Austin, Texas; Atlanta, Georgia; Washington, D.C.; New Providence, New Jersey and New York City, New York. Available financing for conventional commercial real estate and multifamily loans ranges from $750,000 to $10 million. Bridge financing is available up to $25 million and is offered through Ready Capital Structured Finance, a wholly owned division of ReadyCap. Founded in 2012, ReadyCap is a wholly owned indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation (\”Sutherland\”). Sutherland, a REIT, is a real estate finance company that acquires, originates, manages and finances commercial real estate loans, and to a lesser extent, asset-backed securities where the underlying pool of assets consists primarily of commercial real estate loans and other real estate-related investments.