Direct mortgage lender Geneva Financial has launched an in-house portfolio lending division, expanding its loan options.
According to its release, the investor-focused private lending division taps into Geneva’s capital with $55 million in managed funds. The new unit will offer fix-and-flip loans, ground-up construction loans, bridge loans for investors, and a signature bridge loan called the “Transition” that allows borrowers to purchase a new home before their existing one is sold.
Geneva has appointed industry veteran Morgan Smith (pictured) to head the new unit.
Source: mpamag.com