| UNION MORTGAGE CORP.
Founded 1983
Over 26 years of excellence
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PROFILE:
Union Mortgage Corporation is a full service commercial real estate lender. With a dedicated source of pension money, its mission is to generate good quality loans nationwide. Its programs are priced competitively with the market and are adjusted to reflect the loan-to-value, the debt service ratio, the property condition and the merits of the neighborhood. Short term, bridge, permanent and mezzanine loans are available.
In addition to being a lender, Union also offers investment opportunities.
(see INVESTMENTS)
HISTORY:
Union Mortgage Corporation was founded in 1983. Originally called Multi-Family Resources, Inc., it was organized for the purpose of originating, underwriting, processing and closing multifamily loans throughout the United States. From its inception until 1990, MFR originated almost $1 billion of mortgage loans on behalf of its 23 client banks. Most of these loans were sold to Freddie Mac with servicing retained by the banks. With Freddie Mac phasing out of the market in 1990, MFR originated very few new loans for a period of two years.
In early 1992 MFR reactivated its origination pipeline on behalf of pension investors. In 1993 it changed its name to Union Mortgage Corporation and revived its membership in the Mortgage Bankers Association of America. The company expanded its operations by opening offices in Atlanta and West Palm Beach. The following year Union expanded beyond its pension clients and became an approved correspondent for several Wall Street Conduits.
During the last five years years, Union has broadened its position in the market by expanding its lending capabilities with more loan types covering a greater variety of properties and offering debt and equity investment opportunities. Union remains a dynamic and diversified company focusing on multiple facets within the national real estate market.
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