It highlights efforts to enhance compliance and processes
After its ban was lifted, Meridian Capital Group has announced it will resume brokering loans for Freddie Mac beginning January 1, 2025.
Brian Brooks, Meridian’s CEO, expressed optimism about the future of the firm’s Freddie Mac loan brokering. “We are excited about our reinstated ability to offer our clients agency lending options and we believe our efforts to create a best-in-class approach to compliance will set the tone for the commercial mortgage brokerage industry,” he said. He emphasized Meridian’s commitment to integrity, transparency, and market expertise.
A news release highlighted the steps Meridian has taken to enhance its compliance and underwriting frameworks. These include an overhaul of its credit review process, the creation of an executive review committee for large and complex loans, and the addition of key roles focused on compliance and risk management. The firm has also established a new quarterly loan review process to ensure compliance and address any potential violations.
Several notable appointments have been made to support these efforts, including Andrew Bon Salle, Fannie Mae’s former executive vice president, and Pat Jackson, CEO of Sabal Investment Holdings, as independent board members. Additionally, Melissa Martinez, former chief risk officer of CoreLogic, has been named Meridian’s first chief risk officer.
Meridian Capital Group is a commercial real estate finance, investment sales, and retail leasing advisor, headquartered in New York City. Founded in 1991, Meridian has facilitated more than $550 billion in commercial real estate financing for over 11,000 clients, noted the news release.
In 2023 alone, the firm closed more than $27.4 billion in financing across 43 states. Meridian is known for its platform, which aims to cover a variety of property types including multifamily, office, retail, hotel, and healthcare facilities.
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