CHARLOTTE, N.C.—Grandbridge Real Estate Capital LLC announces its approval from the U.S. Department of Housing and Urban Development (HUD) as a Multifamily Accelerated Processing (MAP) approved lender for both multifamily and healthcare programs. Grandbridge, as a long-time HUD MAP-approved lender (under the Collateral Real Estate Capital banner), administers HUD’s FHA mortgage insurance programs while providing long-term, nonrecourse financing for multifamily and healthcare properties. This certification authorizes approved Grandbridge underwriters to submit pre-applications and FHA firm commitment applications for eligible MAP-approved loan products, enabling Grandbridge to provide access to the flexibility of FHA loan products on an expedited basis. Multifamily and healthcare properties funded through FHA include both market rate and affordable housing, as well as manufactured home communities, seniors housing, assisted living facilities, nursing homes and other specialty housing products.

“We are very excited about the expanded market opportunities the Grandbridge loan production platform brings to our FHA lending platform. During recent upheavals in capital markets, FHA-insured loan products have continued to provide a reliable capital source for the new construction, refinance and acquisition of multifamily and healthcare facilities,” said Grandbridge Senior Vice President Tim Duncan, manager of the company’s FHA origination and underwriting division.

Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corporation (NYSE: BBT) principal subsidiary Branch Banking and Trust Company, is one of the largest full-service commercial and multifamily mortgage banking companies in the nation. Grandbridge is a Fannie Mae DUS^® (Delegated Underwriting and Servicing) lender, a Freddie Mac Program Plus^® seller/servicer and an active participant in multifamily products insured by the Federal Housing Administration (FHA) as a MAP-approved lender. With a current servicing portfolio of more than $21 billion, representing 96 capital providers, Grandbridge is an S&P “Above Average” rated servicer.

Grandbridge, one of the largest full-service commercial and multifamily mortgage banking companies in the nation, arranges permanent commercial and multifamily real estate loans, services loan portfolios, and provides asset and portfolio management as well as real estate brokerage services on a national basis. The company has a broad capital provider base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks as well as a proprietary lending platform—enabling Grandbridge to close more than 1,000 transactions in 2007.

With $132.6 billion in assets and nearly 1,500 financial centers in 11 states and Washington, D.C., Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) is the nation’s 14th largest financial holding company. More information about the company is available at BBT.com.

Contacts

BUSINESS

Thomas S. Dennard
Grandbridge CEO
704.379.6910

FHA LOAN ORIGINATION CONTACT

Timothy M. Duncan
Grandbridge Senior Vice President, FHA
816.931.0175 ext. 222

MEDIA

Patricia Muse
Grandbridge Marketing
205.978.1139