Approved Federal Housing Administration (FHA) Multifamily Accelerated Processing (MAP) Lender, specializing in apartment mortgages.
Founded in 2009, Crain Mortgage Group provides construction and permanent loans for apartment properties primarily in the South Central region of the United States (Texas, Oklahoma and Arkansas). The firm’s demonstrated expertise has resulted in its involvement in the closing of nearly $100 million in FHA apartment loans in the 2011 alone. These loans have included financing as large as $25 million for a new construction property, and as small as a $1.6 million refinance project. In fact, we take a special interest and give dedicated attention to smaller apartment loan requests (typically projects of 30-150 units).
CMG’s status as an approved HUD Map Lender allows us to handle all of the processing and underwriting of your loan through final commitment by FHA.
We provide expert handling of long-term, non-recourse, fixed rate, FHA Multifamily insured loans for:
- New Construction
- Refinancing
- Acquisitions
- Rehabilitation
We protect brokers and banks for referrals given to us pursuant to FHA Guidelines.
Member of the Mortgage Bankers Association of America and the Southwest Mortgagee Advisory Council.
About Daniel R. Crain
Danny Crain has spent most of his 30-year career involved with apartment financing and mortgage banking. Just prior to founding Crain Mortgage Group, LLC in 2009, Danny spent 10 years as Senior VP for GMAC Commercial Mortgage Company and was successful in closing over $500,000,000 in FHA multifamily loans. His career closings, however, well exceed $2 billion.
Intimately involved in multifamily financing since 1981, Danny actually helped close the third ever coinsurance loan in the country in 1983, making him a bit of a mortgage pioneer. Other work experience includes originating FHA loans in the Southwest for TRI Capital, overseeing the liquidation of 580 subsidiaries of failed Savings & Loans as an Asset Manager for the Resolution Trust Corporation, and employed by Fannie Mae in the Multifamily area as a Senior Investment Officer for the seven state area centered in Texas.
Danny earned his Juris Doctorate in 1977 and is a member the Texas Bar Association, Oklahoma Bar Association and the California Bar Association. He also maintains his real estate broker's license in both Texas and Oklahoma.
