Cambridge Realty Capital again placed in the Top 10 in the US for total amount of HUD 232 loan money granted in 2017. The data for the annual list is compiled and published by the US Federal Housing Administration. It examines the activity of all HUD 232 lenders in the US.
What makes Cambridge’s Top 10 ranking even more remarkable is that it was competing with some much larger firms, including major money center banks. The report strictly ranks lenders by the total amount of loan money awarded during the year. It does not take into consideration factors such as size of company, number of loans granted and overall success rate.
As far as success rate goes, Cambridge continues to maintain a near-perfect record. More than 98 percent of clients who choose to work with Cambridge get the money that they need.
That’s not to say that Cambridge isn’t discriminating when it comes to its clientele. “We don’t cherry-pick clients with the most straightforward profiles,” noted Cambridge founder and chairman Jeffrey Davis. “Customers come to us because their situations don’t fit in the nice square boxes the banks like to see. Their situations are unique and complex. They have all kinds of mitigating factors, including multiple properties and multiple housing categories.”
Cambridge’s vetting process is meticulous. It is part of Cambridge’s “Signature Experience,” and it begins with a simple conversation. During this conversation, Cambridge gets to know the client and starts building a relationship. As the relationship develops, Cambridge is able to visualize the client’s needs and determine what the most appropriate type of financing for that client’s unique profile. “Often it’s a HUD loan, but sometimes it’s not,” Davis states, adding that the relationship-building stage is crucial to helping direct the client toward the appropriate pathway to funding.
Cambridge also employs a scoring system to determine whether a given client will be able to qualify for a HUD loan. “There are multiple factors that play into this, including the type of project the client is seeking funding for, how long the client has been in business, its previous loan experience, its overall business performance and many others,” Davis points out.
In addition to maintaining a strong record when it comes to loans awarded, Cambridge has closed $5.5 billion in senior housing capital transactions during its thirty years in business. Davis credits the skill and experience of his team for the company’s success. “Each member of our team is an expert in his or her area, from our managers to our administrative staff. It is because of them that Cambridge has been able to achieve this ranking. I am confident that we will keep going up from here.”
