Rockport Mortgage Closes $1 Billion in FHA Multifamily Loans for HUD Fiscal Year 2018; Ranks Fourth Nationally.

For Immediate Release
April 17, 2019
Media Contact: Tara Goodwin
(508) 404-1745; tara@goodwinpr.com

GLOUCESTER, MA…Rockport Mortgage Corporation today announced that it has once again maintained a top position in the HUD lender rankings for multifamily dollar volume and loan commitments, and closed over $1 billion in FHA loan volume during HUD’s fiscal year 2018.  This performance places Rockport Mortgage as the fourth largest FHA multifamily lender in the country as determined by loan volume.

[Based on calendar year 2018 results, Rockport Mortgage maintained a top-5 position nationally, closing $887 million in loan volume during this period.]

Notable Rockport Mortgage closings during 2018 included:

  • A $110 million HUD Section 223(f) loan for the owners of Lakeview Apartments, a 446-unit property in New York, NY (October).
  • A $60 million HUD Section 223(f) loan for Parkside Place Apartments, a 251-unit apartment building located in Cambridge, MA  (August). A $51.2 million HUD Section 223(f) loan for Neptune Towers, a 334-unit property located in Lynn MA (June).
  • A $32,1 Section 223(f) loan benefitting Arsenal Apartments, a 156-unit property located in Watertown, MA (May).
  • A $59.8 million HUD Section 223(f) loan for  Woodland Station Apartments, a 180-unit property located in Newton, MA (April).
  • A $25 million Section HUD 223(f) loan benefitting Sojourner Truth Homes, a 92-unit property located in New York, NY. (April)
  • A $21.9 million HUD Section 223(f) loan for Bella Vista II, a 468-unit property in New Haven, CT. (February)

“One of the reasons that Rockport Mortgage Corporation consistently ranks among the top affordable housing lenders in the country is because of our team’s deep bench strength in FHA loan programs and their rapidly evolving regulations. We have the unique ability to identify and embrace the nuances of each individual transaction and our collective experience ensures that all the pieces fit together.”  

About Rockport Mortgage Corporation

Consistently ranked as one of the top FHA multi-family lenders in the country, Rockport Mortgage is a privately-held commercial banking firm located on the North Shore of Boston. Founded in 1992, Rockport Mortgage specializes in providing FHA-insured loans to market-rate, affordable and senior multi-family properties as well as assisted living and healthcare facilities. The Rockport Mortgage team works collectively to navigate the complexities of FHA/HUD-insured financing and subsidy programs, developing strategic solutions to meet the diverse needs of its clients.

For additional information about Rockport Mortgage please contact Dan Lyons at 978 675-2002

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