Greystone Funding Co. and VIUM ranked first and second, respectively, in both number and dollar amounts of transactions completed through the Department of Housing and Urban Development’s 232 Lean mortgage insurance program in fiscal year 2024, which ended Sept. 30.
The Lean program closed $3.2 billion in loan volume and a total of 220 loans in the fiscal year. The program provides mortgage insurance for HUD-approved lenders to permanently finance licensed senior living communities.
Greystone closed 52 transactions for a total of $708.3 million through the program in FY24. VIUM Capital closed 34 deals during the time period at a total of $344.9 million.
VIUM Managing Director and Chief Underwriter Alison Lemle noted that the company closed more than half of its FY24 Lean volume in the last quarter of HUD’s fiscal year.
Other top 10 Lean lenders on the list:
- Newpoint Real Estate Capital, with 11 transactions totalling $341.4 million;
- Keybank NA, with 15 transactions totalling $306.9 million;
- Dwight Capital, with 16 transactions totalling $243.4 million;
- Berkadia Commercial Mortgage, with 15 transactions totalling $192.8 million;
- Walker & Dunlop, with 18 transactions totalling $186.1 million;
- Capital Funding, with 15 transactions totalling 170.7 million;
- M & T Realty Corp., with three transactions totalling $129.3 million
- Regions Bank, with 13 transactions totalling $126.9 million
Lenders 11 through 21 on the list completed 28 Lean transactions for a combined total of $403.2 million.
“The HUD Lean program is critical to the strength of our nation’s healthcare and seniors housing infrastructure,” Scott Tittle, managing director at Columbus, OH-based VIUM and former executive director of the National Center for Assisted Living, said in an online post. “We appreciate HUD 232 leadership for working collaboratively with us and the lending community to ensure cost-effective and term-favorable capital remains available for quality operators.”
