PROFILE:
Union Capital is a full service financial lender serving owners, developers and corporations. With a dedicated source of funding from pensions and investment funds, it lends on commercial real estate, renewable energy projects and corporate finance. Its loans are priced competitively with the market and are adjusted to reflect the value of the assets, the nature of the business, the location and the perceived risk. Short term bridge and long term permanent loans are available.
HISTORY:
Union Capital 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 with the markets improving, MFR under the direction of new leadership reactivated its origination pipeline on behalf of pension investors. In 1993 it changed its name to Union Capital Mortgage Corporation and revived its membership in the Mortgage Bankers Association of America. The company expanded its operations by opening offices in Atlanta, West Palm Beach and later in Reno, Nevada. The following year Union expanded beyond its pension clients and became an approved correspondent for several Wall Street firms when the conduit market was still in its infancy. By 1996 Union was actively involved with investment banking activities reflecting the expertise and experience of the new principals.
During the recession of the last few years, Union’s focus has been on renewable energy development, distressed real estate, bridge lending and corporate finance.