The portfolio is comprised of 2,200 Fannie Mae multifamily loans with an average unpaid principal balance of $1.2m, said CW Financial Services.
CW’s Primary Loan Servicing Group managing director and head Gardner Hall will oversee the new portfolio and the company has assigned several experienced staff members to the Small Loan Servicing Group, which will be led by Brian McGrath, vice president.
CWCapital president and CEO Michael Berman said they are pleased to complete this transaction and to enter into the multifamily small loan market. They have a highly proficient staff committed to providing best in class service.
CW is planning to launch a small loan origination team during the first quarter of 2012.
