Commercial real estate finance company Dwight Capital has acquired Love Funding, the HUD lending subsidiary of Midland States Bank.
”As a result of this acquisition, Dwight Capital has become the largest dedicated FHA/HUD Multifamily & Healthcare financing firm in the nation and is poised to continue its industry leading HUD financing production,” said the company in a press release.
The Love Funding Platform, based in Washington D.C, will be rebranded and integrated within Dwight Capital. Midland States Bank will be retaining the existing Love Funding servicing portfolio.
READ ALSO : Commercial/multifamily mortgage debt in U.S rises to $3.72 trillion
“Our clients appreciate our dedicated attention and white-glove service that is synonymous with Dwight Capital, and our financing volume has increased exponentially as a result. It was therefore imperative that we take action to rapidly grow our personnel with a group of the highest caliber, so that our quality and service continue to excel as we grow,” stated Adam Sasouness, Co-CEO of Dwight Capital.
“The Love Funding team is and has been well-respected in the FHA/HUD lending industry for decades, which is why we felt they would be a seamless fit within Dwight. This acquisition is a demonstration of Dwight’s commitment to build and maintain a HUD financing team that is unmatched in the industry.”
“Our growth is also a direct result of our collaboration with the incredible team at HUD,” said Josh Sasouness, Co-CEO of Dwight Capital. “We are grateful to HUD for their ongoing partnership with us, and their willingness to continuously adapt their policies to match housing needs across the country.”