Merchants Capital closes $ 262 million loan to Freddie Mac

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“Our extensive experience in mortgage banking sets us apart from other regional banks in the country,” said Evan Gibson, vice president of debt strategies at Merchants Capital. “We use our balance sheet wisely, finding opportunities to provide liquidity and flexibility whenever possible. The ability to use the Freddie Mac Q platform gave us an additional outlet for our growing production. ”

The deal marks the 15th deal completed under the Freddie’s Q program, which provides increased liquidity to financial institutions supporting affordable housing and housing for workers. The program also offers a flexible securitization structure and allows institutions to clear bad loans from their balance sheets, manage their portfolio, and maintain key relationships.

“Evan and the rest of our Capital Markets team are dedicated to expanding the Merchants product offering beyond our balance sheet so that we can be more dynamic, ultimately supporting our customers’ needs,” said Michael Dury, President and CEO of Merchants Capital. “We are always working on alternative solutions to provide the best financial solutions in affordable housing and housing for workers, and this Q deal is the first step in that direction.”

“The Q-Deal structure enables Freddie Mac to fulfill its responsibility to support financial institutions such as Merchants in providing liquidity to affordable multi-unit housing,” said Steve Johnson, Freddie Mac’s vice president of affordable housing.

“Working with Merchants Capital, we support a workforce housing for more than 764 families located primarily in coastal states,” added Christina House, multi-family product manager for the Freddie Mac Affordable Housing Group, who spearheaded the deal.

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