Transnational Gets $75MM Warehouse Line

Transnational Financial Corp., San Francisco, has obtained a syndicated $75 million revolving warehouse line of credit that it says will significantly lower its cost of borrowing.The self-liquidating warehouse line, secured by individual residential real estate loans originated by Transnational, is being provided by a syndicate led by the Dallas-based Guaranty Federal Bank. The agreement under which the warehouse line was provided includes an option to increase the line to $90 million. Transnational previously had a $25 million warehouse line with Warehouse Lending Corp. of America and a $7 million line with PNC Bank, the company said. Transnational said the new warehouse line will give the company the capacity to fund up to $2 billion in loans per year.