FHA

CARMEL, Ind. – Mortgage banking company Merchants Capital today announces that it provided approximately $4.7 billion in financing in 2020, nearly half of which was dedicated to supporting affordable housing preservation and development across the country. This achievement marks a historic company milestone, as Merchants Capital’s total year-over-year production saw an increase of 106%. While its Federal Housing Administration (FHA) lending volume remained steady, the company’s Government-Sponsored Enterprise (GSE) production through Fannie Mae and Freddie Mac increased 104%, demonstrating the evolution and expansion of Merchants’ GSE platform. “We are hyper-focused on advancing our national footprint through continuous strategic investments in our construction, equity and debt platforms,” said Dwayne George, Executive Vice President and National Head of Production at Merchants Capital. “We are confident that we can continue to succeed because we have a team of dynamic individuals driven to be the best capital advisors in the business. At a time when many of us haven’t seen each other in more than a year due to COVID-19, our entire staff has remained optimistic and ambitious. Everyone at Merchants Capital has done a remarkable job of helping us achieve a record year.” Merchants Capital’s bridge loan product experienced an increase of more than 100% in 2020, proving Merchants’ overall resilience and ability to execute even amid the pandemic when many other banks and lenders were pulling out of the market. “I want to send my congratulations to the entire Merchants Capital team, and especially to Dwayne George, whose addition to Merchants in 2020 as head of production made a big impact on our success,” said Michael R. Dury, President and CEO of Merchants Capital. “I must also send a much-deserved thank you to every single one of our valued clients, whose partnership and trust in us for their financing needs is sincerely appreciated.” To learn more about Merchants Capital and its services, visit www.merchantscapital.com or find Merchants Capital on Facebook, Twitter, LinkedIn and Instagram.

We are pleased to announce the promotion of Emmett Donovan to FHA Deputy Chief Underwriter!  This is an incredible accomplishment and one that takes years of hard work and perseverance. As a former Vice President at Draper and Kramer Commercial Mortgage Corp., Emmett successfully underwrote all types of FHA loans and helped produce over $1 billion in HUD insured loans. In his capacity at Merchants, Emmett serves as Senior Vice President and as a voting member of the FHA Loan Committee. Emmett Donovan Emmett is a graduate of the University of Kansas and holds an MBA in Finance from the Kellstadt Graduate School of Business at DePaul University. CONGRATULATIONS EMMETT! EMMETT DONOVANSENIOR VICE PRESIDENT, FHA DEPUTY CHIEF UNDERWRITERChicago, Illinois

To our valued customers, Since opening our doors in 1990, the Merchants Capital team has worked tirelessly to become nationally recognized as a leader and premier provider and servicer of multifamily, senior and student housing. Recently, our hard work and commitment was recognized by Affordable Housing Finance. We’re proud to announce that Merchants Capital was named in the Top 10 Affordable Housing Lenders of 2018!This accomplishment is evidence of our commitment to advancing affordable housing nationally and ranks us among the top affordable lenders in the country. In 2018 alone, our originations team closed 207 loans and generated nearly $2.6 billion in new loan production nationwide.  That included $1.10 billion in affordable housing, demonstrating a 146 percent increase in affordable housing production compared to 2017. Over the past 28 years, Merchants Capital has originated and closed more than $13.8 billion in loans. Thank you for your continued support and loyalty. We wouldn’t be where we are today without your commitment to Merchants Capital. Sincerely, Michael R. Dury, President, Merchants Capital WE ARE MERCHANTS CAPITAL A Multifamily, Affordable, and Healthcare Lender offering a direct way to access fixed rate, long-term, non-recourse financing via our bank, Merchants Bank, all with a single point of contact.

Carmel, INDIANA (05/18/2018) – Carmel, Indiana based PR Mortgage & Investments (PR) is pleased to announce their selection of SS&C Precision LM to support loan servicing and origination for HUD/Ginnie Mae, Fannie Mae, Freddie Mac and its banking programs. SS&C Precision LM will also enhance PR’s asset management and investor reporting, and provide secure web-based portals for borrower self-service and document workflow automation.  PR’s top priority was to find a fully integrated, highly automated loan origination and servicing platform. SS&C Precision LM’s cloud platform offered the flexibility to support PR’s complex loan products including construction, participations, bridge and adjustable rate loans. “SS&C effectively demonstrated its ability to be a strategic partner for PR Mortgage and brings the industry talent and technology expertise we need to transform our agency and FHA lending operations.  SS&C has an impressive track record and a knowledgeable team to implement best practices based on their recent experience onboarding JLL,” said Michael Dury, President & COO of PR Mortgage & Investments. PR Mortgage & Investments is a wholly owned subsidiary of Merchants Bank of Indiana, specializing in multifamily housing and health care facilities finance.  Merchants Bank of Indiana’s holding company, Merchants Bancorp (Nasdaq: MBIN), is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business with a focus on Federal Housing Administration ("FHA") multifamily housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking.  Merchants Bancorp conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, P/R Mortgage and Investment Corp., RICHMAC Funding LLC and Merchants Mortgage, a division of Merchants Bank of Indiana.  PR Mortgage is a premier provider and servicer of multifamily, senior, and student housing. SS&C Technologies is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 11,000 financial services organizations, from the world’s largest institutions to local firms, manage and account for their investments using SS&C’s products and services.

Carmel, INDIANA (08/15/2017) – Carmel Indiana based PR Mortgage & Investments (PR) is pleased to announce the closing of its acquisition of RICHMAC Funding LLC (RICHMAC), a national Freddie Mac Targeted Affordable Housing Seller/Servicer, Fannie Mae Multifamily Affordable Housing Lender, approved FHA multifamily lender and Ginnie Mae issuer. The seller was an affiliate of The Richman Group. “The RICHMAC platform gives our existing customer base access to Freddie Mac and Fannie Mae, which complements our existing FHA lending platform. Furthermore, RICHMAC and its customers, which include some of the country’s largest apartment owners, will now have support from PR and its parent company, Merchants Bank of Indiana (MBI). MBI will be providing conventional construction and/or bridge loan products that enhance RICHMAC’s permanent loan products. This acquisition solidifies our commitment to affordable housing and gives the MBI family of companies a full array of affordable housing debt products with FHA, Freddie Mac, Fannie Mae, and conventional bank financing.” said Michael Dury, Executive Vice President and COO of PR Mortgage & Investments. RICHMAC will continue to be led by Mathew Wambua and Marsha Goff from offices in New York and Minneapolis. “We welcome Mathew and Marsha and their staff and look forward to working with our existing and new customers in providing expanded and innovative loan products,” added Dury. Beekman Advisors served as strategic advisor to RICHMAC in the transaction and assisted with securing transaction approvals. Wooden & McLaughlin LLP and Ballard Spahr LLP served as legal counsel to PR and RICHMAC, respectively. PR Mortgage & Investments was established in August of 1990 as a mortgage banking firm specializing in multifamily housing and health care facilities finance in the Midwest.  PR is a premier provider and servicer of Multifamily, Senior, and Student Housing. PR is an approved FHA Mortgagee and is an approved Multifamily Accelerated Processing (MAP) lender for HUD. PR is a wholly owned subsidiary of Merchants Bank of Indiana. Merchants Bank of Indiana is headquartered in Carmel Indiana and focuses on several aspects of mortgage lending, agricultural lending, and retail banking services from four Central Indiana locations. Merchants Bank of Indiana has over $3 billion in assets, 165 employees, and more than 100 shareholders. To learn more about Merchants Bank of Indiana, visit www.merchantsbankofindiana.com.