FHA Multifamily Lending
Annual Review - FY2025
1,007
Deals
$24.4B
Total Volume
66
Active Lenders
Most Active FHA Lenders
| # | Lender | Deals | Volume |
|---|---|---|---|
| 1 | Berkadia | 79 | $2.3B |
| 2 | Dwight Capital | 77 | $2.1B |
| 3 | Lument | 64 | $960.2M |
| 4 | Greystone Servicing Company LLC | 61 | $1.7B |
| 5 | Merchants Capital Corp. | 52 | $1.0B |
| 6 | Walker & Dunlop LLC | 52 | $1.6B |
| 7 | GERSHMAN INVESTMENT | 39 | $1.1B |
| 8 | ROCKPORT MORTGAGE | 31 | $1.2B |
| 9 | Bellwether Real Estate Capital | 31 | $661.2M |
| 10 | CALIFORNIA HFA | 28 | $825.1M |
| 11 | MASSACHUSETTS HFA | 24 | $304.1M |
| 12 | CENTENNIAL MORTGAGE | 24 | $217.9M |
| 13 | MASON JOSEPH COMPANY INC | 23 | $982.5M |
| 14 | KeyBank, N.A. | 19 | $615.3M |
| 15 | NewPoint Real Estate Capital LLC | 18 | $289.8M |
Annual Origination Volume
FHA multifamily originations totaled $24.4B across 1,007 deals in FY2025, a 47.4% increase from FY2024. The top 5 originators accounted for 33% of total volume. Average deal size was $24.2M.