Pillar Multifamily LLC, an affiliate of Guggenheim Partners, continues to build out its correspondent lending business, having announced this week a new agreement with Boston-headquartered Tremont Realty Capital LLC (Tremont).
Under the terms of the deal, Tremont will source Fannie Mae-eligible multifamily mortgage loans for Pillar throughout its network, outside of Southern California. Pillar is a Fannie Mae Delegated Underwriting and Servicing lender.
"We believe this redefined platform, with the addition of Pillar's Fannie Mae multifamily product, now provides a full spectrum of loan products for the real estate industry," says Richard Gallitto, executive director of Tremont Realty Capital.
Earlier this month, Pillar announced a correspondent agreement with 801 Capital Finance Co. LLC. In June, Fannie Mae approved a similar correspondent lending agreement between Pillar and George Elkins Mortgage Banking.
