Responsible for coordination with Berkadia’s joint venture ownership in Riverside Capital
Steve Ervin joined Berkadia in 2011, and today is the company’s Senior Vice President, Head of FHA and Seniors Housing Finance. He leads the seniors housing group, with responsibility for oversight all HUD production of multifamily and healthcare lending and the growing Berkadia’s affordable housing platform through its Fannie Mae, Freddie Mac, HUD and balance sheet platforms. In addition he is responsible for coordination with Berkadia’s joint venture ownership in Riverside Capital.
Ervin’s national team includes Amy Gay, Paul Matusiak, Gemma Geldmacher, James Tanner, Henry Tanner and Chad Bedwell. Together, the team closed 199 loans for 133 clients totaling $3.4 billion in financing during 2021. Berkadia led the industry in FHA construction financing, closing 20 new construction transactions totaling $643 million, which will support development of 3,724 multifamily units.
Notably, 91 of Berkadia’s loans, totaling $1.9 billion, were underwritten to receive special MIP treatment by either meeting rigorous Green Energy standards or by providing affordable and broadly affordable housing. This treatment reduces the mortgage insurance premium for those transactions to 25 or 35 basis points as an incentive for owners to develop and finance properties meeting these standards.
These are some of the reasons we selected Ervin for inclusion in the Connect CRE Top Mortgage Brokers and Lenders Awards. These awards recognize industry professionals who have demonstrated the highest standards in commercial real estate finance.
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