Refinancing fails when the new quote ignores the existing note. We underwrite the request against prepay, proceeds, recourse, and timing, then originate it to the source that can actually close. Capital Market Funds is the mortgage banker. The lender is the capital source.
Permanent refinance paths we originate in Arizona: Fannie Mae and Freddie Mac for the multifamily that fits, HUD 223(f) for existing multifamily, seniors, and healthcare, life company for core cash flow, CMBS when proceeds need to stretch, and bank or credit union when the hold should stay on a portfolio. If the asset is still transitional, the honest answer may be bridge with a defined takeout, not a permanent quote that will not survive underwriting.
The refinance and cash-out files below are the ones already published. A Tempe dental and medical office, Harvard Court multifamily in Phoenix, a Phoenix industrial permanent cash-out, and a Scottsdale Airpark flex refinance. Amounts are those tombstones. We do not add a statewide volume number on top of them.
How the capital is shopped
- Fannie Mae
Cash-flowing multifamily refinance, including cash-out where the program allows.
- Freddie Mac
Optigo conventional, targeted, and value-add refinance when that box fits better than Fannie.
- HUD / FHA
223(f) acquisition or refinance of existing multifamily, seniors, and healthcare.
- Life Company
Permanent refinance of stabilized industrial, multifamily, retail, and select office.
- CMBS
Higher-proceeds refinance when life company or bank credit will not stretch.
- Bank
Relationship refinance, including credit unions, when portfolio hold is the point.
- Bridge & Private
Only when the asset is still transitional and the takeout is defined.