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ST. LOUIS, January 11, 2005—Gershman Mortgage, one of the largest mortgage lenders in St. Louis, has partnered with HomeStreet Capital as the exclusive correspondent for the Midwest.  As a correspondent, Gershman is able to offer Fannie Mae’s Delegated Underwriting and Servicing (DUSTM) program for multifamily borrowers.  For 50 years, Gershman has provided financing for residential real estate in the St. Louis region, and for commercial multi-family projects nationwide. 

The partnership between Gershman and HomeStreet Capital offers multifamily borrowers direct access to Fannie Mae’s low-cost DUS financing, ongoing support over the life of the loan, and local, personalized service.  The program’s goal is to provide the best products, price, and service for financing a multifamily property.

Based in Seattle, HomeStreet Capital has been a leader in the multifamily and commercial property arena in the Northwest.  In 1988, Fannie Mae selected HomeStreet as one of the original participants in the Delegated Underwriting and Servicing (DUS) program.  HomeStreet Capital is the recipient of three awards from Fannie Mae: the Superior Achievement in DUS Closings and Deliveries, the Outstanding Contributions for Small Multifamily Loans, and the Founders Award.

Gershman Mortgage is the oldest independent mortgage company in St. Louis, and one of the largest in Missouri.  Gershman is an area leader in FHA/VA and conventional single-family home loans, having financed over 50,000 loans in the St. Louis area alone.  Nationally, Gershman services over $600 million in loans for multi-family and healthcare facilities. Gershman provides all types of financing for apartments, nursing homes, assisted living facilities, and hospitals.  Gershman Mortgage is one of only 63 lenders in the country approved for MAP (Multi-family Accelerated Processing) for apartments, assisted living and nursing homes. 

The commercial side of Gershman’s website, www.gershman.com, outlines products and programs available to commercial borrowers.  It provides links to important resources and includes a list of documents necessary for reviewing loan requests.  In addition, the site highlights projects and facilities financed by Gershman Mortgage.

Gershman Mortgage has offices in Clayton, St. Peters, and Fairview Heights, IL and can be found on the web at www.gershman.com.  Gershman’s Clayton office is located at 7 North Bemiston.  For more information on the Fannie Mae DUS loan program offered through Gershman Mortgage and HomeStreet Capital, contact Gershman Mortgage, at (314) 889-0600 or 1-800-GERSHMAN.