CARMEL, Ind. (Mar. 29, 2019) – Mortgage banking firm Merchants Capital announces today that it has reached a major milestone. As of Dec. 28, 2018, Merchants Capital, formerly PR Mortgage & Investments, now services loans in excess of $10 billion for Merchants Bank and other investors.
Since its inception in 1990, Merchants Capital has originated and closed more than $13.8 billion in loans. In 2018 alone, Merchants Capital closed approximately 207 loans and generated nearly $2.6 billion in new loan production nationwide. In 2017, the company closed more than $1.7 billion in new loans.
“We are extremely proud of our servicing teams for their continued commitment to providing the highest quality of service to our borrowers,” said Michael R. Dury, president of Merchants Capital. “Reaching this milestone is not only a testament to our highly driven team, but also to our valued customers who trust us and our skilled expertise in providing a direct way to access financing via our bank, Merchants Bank, with a single point of contact.”
Merchants Capital provides servicing for a variety of loan types – including Fannie Mae, Freddie Mac and FHA – to meet the needs of a diverse portfolio of affordable, multifamily and healthcare housing loans. The company’s team of professionals specialize in managing the needs of multifamily and healthcare facility loans, providing skilled expertise to investors and borrowers.
This milestone comes on the heels of the company’s rebrand to Merchants Capital, which renewed and elevated the company’s commitment to providing and servicing multifamily housing. Merchants Capital also recently announced its new $25 million, 100,000 square-foot headquarters in Carmel, Indiana, opening in 2019. The development will bring an estimated 150 bank employee jobs to the Carmel Midtown area.