Trust Mortgage specifically provides FHA financing solutions. Specializing in Ginnie Mae-backed securities for large multifamily financing amid Silicon Valley Bank’s shutdown. Trust Mortgage provides 35 and 40-year mortgages, catering to various project types, with competitive interest rates and no balloon payments. Their program is a stable alternative during financial challenges.
Boston, MA, April 23, 2023 /Realty Wire/ Silicon Valley Bank (SVB), a leading commercial bank that has long served the technology industry and startups, has announced its shutdown due to inadequate liquidity and insolvency. The bank’s closure came after it sold a significant amount of securities at a loss and attempted to raise $2.25 billion through the sale of new shares to cover its financial shortfall. Following the news, a majority of customers withdrew their funds, further exacerbating the bank’s liquidity crisis and ultimately leading to its collapse.
As a result of the SVB shutdown, major banks across the United States have halted large multifamily refinances or loans, leaving developers and investors in the real estate market searching for alternative financing solutions.
Trust Mortgage originates 35 and 40-year multifamily mortgages fixed up to 90% of cost. They cater to various project types, including new construction, sub-rehab, acquisition, and refinances. Borrowers benefit from no personal guarantees, no balloon payments, and assumable mortgages.
The Government National Mortgage Association (Ginnie Mae) is a government-owned corporation that guarantees mortgage-backed securities, providing much-needed liquidity to the mortgage market. Trust Mortgage’s program caters to borrowers seeking refinancing or loans in excess of $5 million, offering competitive interest rates and flexible terms through these subsidiaries.
For more information and to request a quote worksheet, interested parties can visit Trust Mortgage’s website at trustlender.com. Amid the financial turmoil caused by the Silicon Valley Bank shutdown, Trust Mortgage presents a stable and reliable option for those in need of large multifamily refinancing or loans.