Pillar Multifamily, 801 Capital Finance Ink Correspondent Deal

Pillar Multifamily LLC, Guggenheim Partners' Fannie Mae Delegated Underwriting and Servicing arm, and 801 Capital Finance Co. LLC, an affiliate of Flat 801 Management Co., have entered into a correspondent agreement.

Under the deal terms, 801 Capital will source Fannie Mae-eligible multifamily mortgage loans for Pillar throughout its national network, outside of Southern California. Pillar will have the first option, but not the obligation, to originate all Fannie Mae-eligible mortgage loans sourced by 801 Capital.

The agreement formalizes a longstanding relationship between Pillar and 801 that has resulted in the delivery of more than $275 million in loans this year, according to officers at the firms.

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