EagleBank approved as a Ginnie Mae multifamily MBS issuer

EagleBank of Bethesda, Md., has been approved as the 13th Ginnie Mae multifamily mortgage-backed securities issuer.

"EagleBank is proud of this achievement, as we are only one of 13 banks in the nation with this authority," said EagleBank Chairman and CEO Ronald Paul in a press release.

"EagleBank now has expanded its critical lending role in the permanent financing of acquisition, rehabilitation and construction of multifamily rental housing. These projects stabilize communities, bring jobs, and contribute to the preservation and expansion of affordable housing in our area."

EagleBank started its Federal Housing Administration multifamily lending division in January 2016. The FHA group recently began closing loans and has a robust pipeline of transactions for the balance of 2017 and into 2018, the bank said.

There was $12.7 billion of Ginnie Mae multifamily MBS issued in the first seven months of fiscal year 2017, according to the agency's website.