Arbor Launches ALEX, a Groundbreaking Online Multifamily Agency Lending Platform
UNIONDALE, N.Y. — Arbor Commercial Mortgage, LLC, one of the nation’s largest direct commercial real estate lenders, today unveiled ALEX (Arbor LoanExpress), the multifamily industry’s first ever, all-agency, online loan origination platform.
Developed for direct borrowers, brokers and correspondent lenders, ALEX is designed to streamline and organize a historically complex multifamily lending process, helping clients easily and efficiently obtain market-leading Fannie Mae and Freddie Mac financing. ALEX will provide the fastest loan evaluation in the industry and incorporates the first ever use of e-signature execution for certain forms used in multifamily agency lending.
“As a true leader in the small balance agency lending business, we are both proud and excited to revolutionize multifamily financing with ALEX,” stated Ivan Kaufman, Arbor’s Chairman and CEO. “We incorporated our years of success, world-class customer service and small loan experience in building a proprietary technology that allows us to reach new customers and provide our highly valued repeat clients with an organized, transparent and efficient experience. In today’s fast-paced world, we understand our clients’ needs for a quick response time, and ALEX leverages technology to provide quick feedback and allows our clients to stay on the pulse of the loan process with just the click of a button.”
ALEX will offer all of the benefits of an automated lending platform while leveraging Arbor’s established multifamily finance capabilities and infrastructure as well as its traditional hallmarks of personalized and customized service from dedicated loan originators. ALEX’s leading features include:
- Online and automated application creation and forms submission
- Three-hour or less loan evaluation and feedback from a loan officer with full information completion
- Live help chat during all stages of the application process
- Fannie Mae and Freddie Mac approval of e-signature execution on key forms
- 24/7 mobile and desktop access
Both Fannie Mae and Freddie Mac were consulted throughout the development of ALEX.
“Fannie Mae applauds Arbor for bringing leading-edge financing technology to the multifamily industry in the form of ALEX,” said Bob Simpson, Vice President of Fannie Mae’s Multifamily Affordable, Green and Small Loans business. “With such attributes as e-signature execution, ALEX complements our delegated underwriting model by further simplifying the financing process for multifamily owners. We are delighted Arbor is bringing this technology to the market.”
“Freddie Mac is always looking for new and innovative ways to better meet the need for market-leading multifamily financing,” added Steve Johnson, Freddie Mac’s director of small balance lending. “We see real value in innovation and a real strategic advantage in the development of something like ALEX to include automated documents, faster execution and improved efficiency.”
Dr. Sam Chandan, a professor at the Wharton School and founder of Chandan Economics, a leading provider of commercial real estate data and analytics and one of Arbor’s research partners, has also endorsed ALEX. “ALEX breaks new ground in multifamily lending, introducing an innovative model for financing and one that supports a faster and easier process than the industry’s traditional service,” he said. “It especially meets the often underserved financial needs of small balance multifamily investors, who will be the primary beneficiaries of a simplified e-commerce-based lending experience that is enhanced through state-of-the-art technology.”
To learn more about ALEX, please visit ArborLoanExpress.com, which offers quick video tours on how the loan platform works as well as exclusive small balance multifamily news and research on the ALEX Chatter blog that features Chandan Economics.
Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. Arbor is a Top 10 Fannie Mae DUS® Multifamily Lender by volume and Fannie Mae Seniors Housing Lender, a Freddie Mac Program Plus® Seller/Servicer, Seniors Housing and Small Balance Loan lender, an FHA Multifamily Accelerated Processing (MAP)/LEAN Lender, a HUD-approved LIHTC Lender as well as a CMBS, Bridge and Mezzanine lender, consistently building on its reputation for service, quality and flexibility. Arbor also offers its clients, ALEX (Arbor LoanExpress), an online loan origination platform. With a current servicing portfolio of more than $11 billion, Arbor is a primary commercial loan servicer and special servicer rated by Standard & Poor’s and holds an Above Average rating from Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List and is a primary commercial loan servicer and loan level special servicer rated by Fitch Ratings.
Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com.