New York, NY Mortgage banking company Merchants Capital has hired Dwayne George as executive vice president, national head of production.
With 15 years of multifamily production and management experience, George is recognized as an adept problem solver with proven success in multifamily production and sales team management, as well as originating and underwriting Government-Sponsored Enterprise (GSE) executions. George previously held positions at Greystone and Northmarq, but most recently, at Freddie Mac as senior director of target affordable housing production where he managed the Freddie Mac Optigo Lender Network – a platform that consists of 19 lenders that is responsible for originating $6 billion of annual affordable housing production.
Prior to joining the production team, George served as a senior underwriter in Freddie Mac’s Target Affordable Housing Group, where he was responsible for obtaining and granting credit approvals for LIHTC Preservation, Section 8, Bond Credit Enhancements, Moderate Rehabilitations, and Extended Use loans totaling $300-$400 million in annual production.
During his first three years at Freddie, he orchestrated the purchase of $920 million in Freddie Mac Target Affordable originations, which included the firm’s largest Target Affordable Housing Capital Markets Execution (CME) transaction, the first Short Term Bond Execution, and the first Rental Assistance Demonstration (RAD) conversion.
In his new role at Merchants Capital, George’s primary responsibility is to lead the company’s sales team, where he will be working closely with Merchants’ sales office leads in New York, Minneapolis-Saint Paul, Indianapolis and Chicago. He will spend the majority of his time traveling and meeting with loan originators and customers, training existing sales personnel, managing the sales process closely, and recruiting for and growing new offices.
“We are thrilled to welcome Dwayne George, a proven leader and mortgage banking executive, to our growing team,” said Michael Dury, president and CEO of Merchants Capital. “As we continue to grow our sales team across the country, it was essential to give them support through sales and product training, but most importantly, provide them with best in class leadership to help grow their respective businesses. Many of our team members already had a strong relationship with Dwayne during his time at Freddie Mac, which I believe will allow for a smooth transition and allow him to hit the ground running. I am excited for our customers to meet Dwayne and be able to benefit from his thoughtfulness and creativity as he accesses our creative balance sheet products combined with our expertise with the GSEs and Federal Housing Administration (FHA).”
George is a graduate of Goucher College with a Bachelor of Arts degree in Business Management. He also holds a master’s degree in Real Estate from Georgetown University.
“My experience in the private sector and at Freddie Mac has fueled my pursuit of providing a dynamic approach to multifamily finance with a hyper-focus on the customer experience,” George said. “The team at Merchants shares my vision to effectively and efficiently expand the firm’s national affordable multifamily housing presence in the market. I’m excited to play an active role in advancing Merchants Capital’s commitment to continued excellence.”
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