Total HUD LEAN loan volume hasn’t yet reached the heights of its FY2014, when the program closed over $4.2 billion in loans in 484 transactions, but it is getting there. In its FY2017, lenders closed just over $3.4 billion in 310 deals, up 20% from FY2016’s $2.84 billion volume (in 287 deals) and up 26% from FY2015’s $2.7 billion (in 291 deals). A total of 33 lenders closed at least one transaction, with Lancaster Pollard topping the list with 79 transactions. KeyBank came in second, with 33 loans, and Capital Funding was not far behind, closing 28 transactions. Housing & Healthcare Finance and First American Capital Group tied for fourth, each with 18 loans closed.
Lancaster Pollard also came out on top volume-wise, closing nearly $770 million in transactions, or more than double the next-closest lender, Greystone, which closed $377 million in 15 transactions. KeyBank, which came in second for number of transactions, closed the third-highest loan volume, at $333 million, while First American Capital Group and Capital Funding closed $279 million and $267 million, respectively.
Who closed the largest deal of the year? Actually, Greystone closed the top three, the largest being a $78.4 million loan to refinance a 504-bed skilled nursing facility in Brooklyn, New York.