NEW YORK--(BUSINESS WIRE)--Pillar Multifamily, LLC, an affiliate of Guggenheim Partners, and First California Mortgage Company (First Cal) today announced their Correspondent Agreement effective immediately.
First Cal will source Fannie Mae-eligible mortgage loans for Pillar throughout its network, outside of southern California.
“As a leading player in the California commercial real estate market, First Cal will be an important partner for us in a key region as we continue to grow our Fannie Mae DUS business and build out the broader Guggenheim commercial real estate platform,” said Robert Brennan, senior managing director and head of Guggenheim Commercial Real Estate Finance.
“We are extremely excited to expand our partnership with Guggenheim Partners and offer Pillar’s Fannie Mae DUS platform,” said Jeff Krischer, First Cal’s director of multifamily lending. “As First Cal looks to expand beyond the residential mortgage market, it will be an incredible value add for our loan originators and broker partners to have access to Pillar’s multifamily expertise.”
About First California Mortgage Company
Throughout its 34-year history, First Cal and its affiliates have funded more than $200 billion in residential loans across the U.S. Today, First Cal is an approved FNMA Seller/Servicer, an approved HomePath® Lender, and is licensed to lend in 10 states: including Arizona, California, Colorado, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington.
First Cal specializes in high quality, fully documented conforming, jumbo, FHA and VA loans. It is a Fannie Mae residential direct lender, a HUD Non-Supervised Title II Full Eagle Lender and an approved national correspondent for most of the largest U.S. banks. The company maintains its headquarters in Petaluma, Calif., and is privately owned. You can find it online at www.firstcal.net.
About Guggenheim Commercial Real Estate Finance and Guggenheim Partners
Guggenheim Commercial Real Estate Finance, LLC is a national CRE lending business which sources, underwrites, funds and services commercial mortgages from six offices throughout the United States. GCREF originates a broad array of loan types for multiple capital sources including Guggenheim’s own portfolio, for our clients on a discretionary basis through managed accounts and fund arrangements and for execution in the capital markets (securitization and syndication).
Through our affiliate, Pillar Multifamily, LLC, a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, we offer a full array of financing solutions to owners of multifamily properties. Pillar’s capabilities include small loan solutions, market-rate multifamily mortgages, and credit facilities.
Guggenheim Partners, LLC is a privately held global financial services firm with more than $100 billion in assets under supervision including management of assets in excess of $80 billion. The firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 25 offices in nine countries. For more information, please visit www.guggenheimpartners.com.