Churchill Mortgage Investment (CMI) announced it has received approval as a Ginnie Mae issuer for its multifamily mortgage-backed securities program.
The ability to pool and securitize its own Federal Housing Administration (FHA) and U.S. Department of Agriculture-Rural Development (USDA-RD) Sec. 538 loans opens the door for increased growth for Churchill.
The firm has originated conventional, FHA, and USDA-RD Sec. 538 loans and exclusively selling whole loans into the secondary market. By becoming a Ginnie Mae issuer, the firm reduces the middleman in the origination-to-capital markets process, benefiting the company and those it serves, said CMI officials.
CMI is a nationwide multifamily mortgage lender-servicer and subsidiary of Churchill Stateside Group.
"This is an important designation for both our employees and our clients. We are confident that this will be a competitive advantage as we look to provide better service to our clients," said Keith Gloeckl, CEO of Churchill Stateside Group.