Allied Mortgage Obtains $100M LOC

Allied Mortgage and Financial Corp., Sunrise, Fla., has received a $100 million credit facility from CapitalSource Inc., Chevy Chase, Md.The terms of the credit line were not disclosed. Allied, a hard-money lender, is looking to expand its residential, commercial, and correspondent loan purchase programs to a national audience. "We believe it is prudent to have additional capacity for our future needs, and this new facility gives Allied financial flexibility for our aggressive expansion efforts," said Anthony Chao, chief operating officer of Allied. The company operates in five states, with plans to move into 10 more in the next 90 days. It also just opened a correspondent lending channel. CapitalSource is a commercial finance company using a real estate investment trust structure.