New York, NY — November 5, 2024 — Lument announced today that it has been ranked the top U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) lender for MAP (multifamily) transactions by loan count and loan volume for HUD’s fiscal year ended September 30, 2024.
Lument led the field in multifamily closings with 45 closed transactions totaling $501 million, over 9% of total market share. This was also the fourth year in a row that Lument was the top FHA MAP lender by loan count. Of the 45 closed transactions, 29 were direct originations – more than any other lender. In addition, Lument closed 11 low-income housing tax credit (LIHTC) affordable housing transactions totaling $88.9 million. When combining MAP and LEAN (seniors housing and healthcare) closings, Lument ranked second in loan count for 2024.
“As transaction activity increases, Lument’s FHA platform is set to play a pivotal role in providing stable, long-term financing solutions for our borrowers,” said Lument CEO James Flynn. “We’re committed to making FHA loans accessible and streamlined, and we’re incredibly proud to lead the multifamily industry in delivering these essential executions. HUD has been a vital partner in this effort, and we look forward to more successful closings that position our multifamily, affordable housing, and seniors housing and healthcare clients for sustained growth.”
Overall, HUD multifamily closings totaled $5.4 billion for fiscal year 2024, down from $8.4 billion in fiscal year 2023, largely driven by a decrease in refinance activity. New construction activity, on the other hand, increased slightly from $1.8 billion to $2.1 billion year over year.
About Lument
Lument, a subsidiary of ORIX Corporation USA, is a national leader in commercial real estate finance and delivers a comprehensive set of capital solutions customized for investors in multifamily, affordable housing, and seniors housing and healthcare real estate. Lument is a Fannie Mae DUS®, Freddie Mac Optigo®, FHA, and USDA lender. In addition, Lument offers a suite of proprietary commercial lending, real estate investment sales, investment banking, and investment management solutions. The company has approximately 600 employees in over 30 offices across the United States. Securities, investment banking, and advisory services are provided through Lument Securities, LLC, member FINRA/SIPC. Lument Investment Management, LLC, is registered as an investment adviser with the U.S. Securities and Exchange Commission. For more information, visit https://www.lument.com/.
