Capital One Partners with MassHousing on MAP Loans
Capital One will partner with MassHousing in its Multifamily Accelerated Processing (MAP) lending program, which provides an expedited process for rental housing owners to refinance, renovate and preserve their properties, while extending affordability protections to tenants. MassHousing selected Capital One as a MAP joint venture partner as a result of a competitive request for proposals.
“Partnering with MassHousing on the MAP program represents an opportunity to leverage the strength of our FHA platform to help provide affordable housing for individuals and families in Massachusetts,” said Drew Ades, SVP at Capital One Multifamily Finance. “We look forward to innovating with MassHousing to address this critical need.”
Capital One joins Rockport Mortgage Corporation and CBRE as a MassHousing MAP JV partner. Since MassHousing became an approved MAP lender in 2015, it has provided more than $1 billion in financing for 44 rental communities in Massachusetts, serving more than 7,500 lower-income senior citizens and households.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing