Page 1

GERSHMAN MORTGAGE


Security. Experience. Unmatched Service.

GERSHMAN MORTGAGE

Founded in 1953, Gershman is the oldest independent mortgage company in St. Louis. Gershman is one of the largest independent mortgage banking companies in Missouri. Gershman has originated over $30 billion in home loans and financed over 275,000 home mortgages. Gershman is ranked among the top 10 originators for FHA multifamily programs by the U.S. Department of Housing and Urban Development.

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com

Gershman was named one of the nation’s “Top Commercial Servicers” by Mortgage Servicing News and National Mortgage News. Gershman services $1.5 billion for multifamily and healthcare facilities. Gershman is an approved Ginnie Mae mega-servicer. Gershman is one of the only independent mortgage companies nationwide offering both commercial and residential services.


COMPANY OVERVIEW

O

ne of the nation’s leading mortgage bankers, Gershman Mortgage offers

Park Pacific

nearly 60 years of experience, security, and unmatched customer service in

residential and commercial financing. A privately owned company, Gershman was founded in 1953 by Solon Gershman. Gershman has maintained a reputation in the mortgage industry that few lenders can equal. Gershman is a strongly capitalized, independent mortgage banking company run by a staff of senior officials, each capable of directly carrying out a variety of responsibilities. Gershman’s growth and profitability are directly attributable to the team’s “hands-on” approach to management and direct involvement in the day-to-day running of the company. Gershman’s veteran staff of more than ninety professionals is knowledgeable in all aspects of origination, underwriting and closing of mortgage loans both in residential and commercial real estate. Gershman is headquartered in St. Louis, and has branch offices in Missouri, Illinois and Iowa. Gershman provides financing for commercial loan projects nationwide.

A Leader in Commercial and Residential Financing For Close to 60 Years


LEADERSHIP Gershman’s senior management has more than 150 years of experience in the industry. SENIOR MANAGEMENT Albert J. Will President After starting his career in commercial banking, Mr. Will joined Gershman in July 1962. He succeeded company founder, Solon Gershman, as President in 2002. He previously served as Executive Vice President. Mr. Will is a past President of the Mortgage Bankers Association of Missouri and the Mortgage Bankers Association of St. Louis.

Bruce A. Sandweiss Executive Vice President Mr. Sandweiss has been with Gershman Mortgage since 1984. In addition to being a mortgage professional, he is a Certified

Senior Management: Mark Unangst, Al Will, Bruce Sandweiss, and Jack Sheredano.

The fact that our Company has been in business almost 60 years and the tenure of the 4 senior executive officers exceeds

Public Accountant licensed in Missouri. Mr. Sandweiss is President of the Midwestern Lenders Association.

Jack Sheredano, Jr. Senior Vice President Mr. Sheredano joined Gershman Mortgage in 1969. He is a past Board Member of the Mortgage Bankers Association of Missouri and the Mortgage Bankers Association of St. Louis.

150 years is proof that we have done (and continue to do) whatever necessary to satisfy our customers. We are unique

Mark C. Unangst Senior Vice President

in these characteristics among mortgage

Mr. Unangst joined Gershman Mortgage in 1982. He is a past

companies and this stability and sense

President of the Mortgage Bankers Association of Missouri and

of fairness to those we serve is what makes me proud to be a part of this

organization.

Albert J. Will, President

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com

the Mortgage Bankers Association of St. Louis.


COMMERCIAL FINANCING

N

amed one of the nation’s “Top Commercial Servicers” by Mortgage Servicing News and a Ginnie Mae mega-servicer, Gershman services $1.5 billion in loans for multi-family apartments and nursing home facilities. The company is active in providing financing for multi-family projects nationwide. Gershman specializes in financing for multifamily facilities, skilled nursing homes, assisted living facilities, and hospitals. Gershman provides and services all types of financing for new construction, substantial rehabilitation, and refinancing. Gershman Mortgage was one of the first lenders in the country to be MAP (Multifamily Accelerated Processing) approved, giving the company extensive experience and an unique understanding of the HUD process. Gershman is one of a small, select group of lenders also approved for the LEAN processing program. Gershman can process and underwrite loans under MAP for apartments, and LEAN for nursing homes and assisted living facilities.

Paul Brown Lofts Lofts at the Highlands

At Balke Brown, our most valued asset is our culture and reputation. We value working with Gershman Mortgage, a company with the same standard of

professionalism and integrity.

Steve Brown CEO Balke Brown Associates


NURSING HOMES AND ASSISTED LIVING FACILITIES

NEW CONSTRUCTION AND SUBSTANTIAL REHABILITATION

ACQUISITION AND REFINANCING

G

To refinance existing nursing homes, intermediate care facilities, board and care homes, and assisted-living facilities without major repairs, Gershman offers loans insured through HUD which are eligible for up to 35 years fixed rate financing. Refinancing is available for both profit-motivated and not-for-profit projects.

ershman Mortgage offers loans for the new construction and substantial rehabilitation of nursing homes, intermediate care facilities, board and care homes, and assisted living facilities. Projects are eligible for Section 232 HUD-secured financing under LEAN Processing. Loans are available for both for-profit and not-for-profit projects. Features of these loans include: • Up to 80% loan to value for Skilled (85% if for non-profit) • Up to 75% loan to value for Assisted (80% if for non-profit) • 40-year Amortization plus construction or rehabilitation time

Features of these loans include: • HUD 232/223 (f) Approved Financing • Up to 80% loan to value for profit (85% if for non-profit) • 35-year Amortization • Non-recourse loan • Tax-exempt or taxable loans

• Non-recourse loan • Includes construction loan • Tax-exempt or taxable loans

HOSPITAL FINANCING

G

ershman Mortgage offers loans for construction financing, refinancing, modernization,

Government loans have been one of our niches since the beginning and remain an important part of

our core business.

Bruce Sandweiss Executive Vice President

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com

remodeling, equipment, and expansion through the HUD/FHA Section 242 Program for hospitals. As an FHA-Approved Lender, Gershman Mortgage

works with HUD and the Department of Health and Human Services throughout the process to ensure a successful approval. Features of these loans include: Capital Financing • HUD 242 Mortgage Insurance for Hospitals • New construction, replacement or renovation (including major medical equipment and certain transaction costs) • 25-year Amortization • Up to 75% loan to value for Assisted (80% if for non-profit) • Non-recourse loan


APARTMENTS Windscape Apartments NEW CONSTRUCTION AND SUBSTANTIAL REHABILITATION

G

ershman Mortgage offers loans for new construction and substantial rehabilitation of multifamily rental or cooperative housing for market-rate, low- to moderate-income families, and the elderly. Projects are eligible for HUDsecured financing under MAP (Multifamily Accelerated Processing). Loans are available for both for-profit and not-for-profit projects. Features of these loans include: • Up to 83.3% loan to value (Up to 90% for qualified Affordable) • 40-year Amortization • Non-recourse loan • Includes construction loan • Tax-exempt or taxable loans

ACQUISITION AND REFINANCING Gershman Mortgage refinances existing multifamily rental housing. Projects originally financed with conventional or FHA-insured mortgages are eligible for up to 35 years fixed rate financing. Refinancing is available for both for-profit and notfor-profit projects. Features of these loans include: • Up to 83.3% loan to value (up to 90% for qualified Affordable) • 35-year Amortization • Non-recourse loan • Finance Needed Repairs • Tax-exempt or taxable loans • Equity Takeouts

A MAP (MULTIFAMILY ACCELERATED PROCESSING ) AND LEAN PROCESSING LENDER Gershman Mortgage was one of the first lenders in the country to be approved for MAP (Multifamily Accelerated Processing). Gershman is one of a small, select group of lenders also approved for the LEAN processing program. Gershman can process and underwrite loans under MAP for apartments, and LEAN for nursing homes and assisted living facilities. And, because Gershman has a long-standing working relationship with HUD, you can be sure each detail will be handled accurately, efficiently, and in your best interest.

GERSHMAN MORTGAGE PROVIDES FINANCING COAST TO COAST & BORDER TO BORDER

All FHA apartment and healthcare loans are serviced by Gershman Mortgage at Gershman’s headquarters.


GERSHMAN PRAISED

Your review… resulted in no audit findings.

This is an outstanding achievement…

Philip H. Buckley, CMB Director for MBS Multifamily Division

Parc Provence


SELECT PROJECTS

G

ershman Mortgage’s loan programs are available in all 50 states. The listing below is just a sampling of some of the projects Gershman Mortgage has financed:

Park Pacific

$63,131,600

The Gatesworth at One McKnight Place

$60,000,000

The Laurel

$44,954,000

Parc Provence

$38,020,600

Lofts at the Highlands

$32,123,600

Waterways of Lake St. Louis

$30,940,400

Paul Brown Lofts

$28,900,800

Pointe 400

$26,236,100

Parkway Lakeside Apartment Homes

$26,213,100

Villas at Crystal Lake

$24,029,500

Windscape Apartments

$20,036,400

Bee Creek Apartments

$19,348,200

Soulard Market Apartments

$18,424,200

Bridge at Garden Plaza

$17,865,000

Council Tower Senior Apartments

$15,862,000

Continental Life Building

$11,893,300

Majestic Stove Lofts

$10,440,000

1110 Washington Apartments/Vanguard Lofts

$10,076,300

Soulard Market Apartments Parkway Lakeside Apartment Homes

The Gatesworth at One McKnight Place

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com


GERSHMAN MORTGAGE: The Laurel Pointe 400

Majestic Stove Lofts

We are proud to have brought more than $300 million of new money to fund projects for the revitalization

of the downtown St. Louis area.

Jack Sheredano Senior Vice President

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com


INTEGRITY. SERVICE. PROFESSIONALISM. Continental Life Building Villas at Crystal Lake

Waterways of Lake St. Louis


Council Tower Senior Apartments

“

Gershman Mortgage is the expert on HUD financing. I know with confidence that their knowledge and experience will mean all the difference when it comes

�

to getting the results we need.

Steve Lierman CEO Eldercare Management Services

1110 Washington Apartments/Vanguard Lofts

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com


RESIDENTIAL FINANCING

F

or nearly 60 years, Gershman Mortgage has been committed to helping St. Louisans own the home of their dreams. Gershman is one of the area’s

leaders in conventional, jumbo, and FHA/VA single-family home loans. Gershman has financed over 275,000 home loans for St. Louis area families. Gershman’s residential team includes more than ninety professionals skilled in all aspects of loan origination, underwriting and closings. These veterans guide clients through every step of the home buying process. As a result, our clients often become repeat borrowers when moving or refinancing, returning for Gershman’s prompt, personalized service. Gershman works with clients to help find the best mortgage to suit their financial and homeownership goals. Knowing that one mortgage doesn’t fit every homebuyer, Gershman Mortgage offers a variety of loan programs from traditional fixed rate and adjustable rate mortgages to jumbo loans, hybrid ARM mortgages and second mortgages. Gershman’s no- and lowdown payment loans, interest only payments, and cash-out mortgages offer borrowers increased flexibility. Gershman also offers FHA and VA loans; special programs for first-time buyers; and reverse mortgages for borrowers age 62 and older.

GERSHMAN MORTGAGE OFFERS: ■ EASY PRE-QUALIFICATION ■ FAST APPROVAL ■ VERY COMPETITIVE RATES ■ LONG LOCK-IN PERIODS ■ QUICK AND SIMPLE CLOSINGS FINANCING OPTIONS Gershman Mortgage offers a wide range of loan products to allow buyers to find the loan that is best for them. MORTGAGE OPTIONS Fixed Rate Mortgages Adjustable Rate Mortgages Hybrid Fixed/Adjustable Mortgages (3, 5, 7, 10 fixed) Reverse Mortgages Jumbo Loans Special Programs Interest Only New Construction Proloan Second Mortgages Government Loans FHA loans (fixed rate and adjustable) VA loans (fixed rate and adjustable) MHDC loans for 1st Time Home Buyers USDA Rural Housing Development loans

Residential mortgages have been a cornerstone of our business for many years. Helping families realize the dream

of homeownership is truly rewarding.

Mark Unangst Senior Vice President

NEW CONSTRUCTION Gershman understands the unique circumstances of homebuyers purchasing new construction. The company regularly partners with area builders to ensure financing for buyers. Flexible financing options include long interest rate lock-ins.


SUCCESS STORIES

A LETTER FROM ELIZABETH PANKAU

I

wanted to write this letter to inform you of the incredible help that your company was to me when closing on my house. I had originally decided to use a national mortgage company to secure my loan. I was scheduled to close on June 22. On June 21, they requested additional paperwork. I had supplied them all the paper work but the situation was not resolved on the 22nd or 23rd.

If I did not close on June 24, I would have been left without a place to live. I called Scott Alberson in a panic well after normal business hours. After reassuring me, he had me come to the office at 8:30 on the morning of June 24. I was able to close on my house at 2:30 that afternoon. Scott and Valerie went out of their way to make sure my file was processed in time. Not only that, but Scott matched the

I’m not sure what I would have done if

Gershman had not been there to help…

interest rate that the national company had offered me and was

Elizabeth Pankau

able to reduce my closing costs. As a first-time home-owner, it was very unsettling to have my original mortgage company fall through on the loan, and I’m not sure what I would have done if Gershman had not been there to help me. The customer service is outstanding, the rates are fair, and the loan process was very straightforward. I would not hesitate to recommend you to anyone who is buying a home.

A LETTER FROM RICHARD AND JAN BUTLER

I

take this opportunity to thank you and your staff for the outstanding preparation and execution of the mortgage on our retirement home. In particular, I want to bring to your attention the clearly superior

performance of Deborah Carpenter, one of your senior loan officers. She came highly recommended and her performance and professionalism lived up to the bill given her. Ms. Carpenter is extremely personable and equally knowledgeable of the mortgage business. She was very thorough in explaining the process, fees, and the mortgage. From the moment she was introduced, she projected honesty and forthrightness. Then she delivered exactly what she said she would. Additionally, she was very prompt. Therefore, we were able to close on our previous home and immediately close on our present home. This was a great stress reliever and saved us several hundred dollars in temporary living costs. I have purchased 6 homes in the last 30 years. Many times these were less than pleasant experiences up to and including closing. Due to Ms. Carpenter’s skills and professional service, this mortgage process was more than a pleasure.

1-800-GERSHMAN | www.gershman.com | gershman@gershman.com


RESOURCES

WEBSITE

LOAN OFFICERS

G

Gershman Mortgage’s staff consists of the area’s top professionals. They are skilled in all aspects of the loan process including loan origination, underwriting, and closings.

ershman Mortgage’s website is a resource for homebuyers and commercial developers alike. For residential borrowers, the site offers a guide to home buying and refinancing, checklists, tips, and calculators as well as current rates and a secure on-line application. The site also includes information on commercial loan programs, documents required for review, and information on the types of properties financed.

www.gershman.com

Gershman’s commercial loan officers have developed strong working relationships with HUD officials and others in the industry. Our residential loan officers guide clients through every step of the home buying process with prompt, personalized service. They customize loan programs to meet financial and homeownership needs.

BUSINESS RELATIONSHIPS Gershman maintains working relationships with:

LOCATIONS

• Department of Housing and Urban Development (HUD) • Department of Veterans Affairs (VA) • Federal Home Loan Mortgage Corporation (FHLMC)

Gershman Mortgage has offices in Missouri, Illinois and Iowa. Each offers a full complement of mortgage-related services including application intake, prequalification, preapproval,

• Federal National Mortgage Association (FNMA) • Government National Mortgage Association (GNMA) • Lenders One

underwriting and closing.

• Missouri Housing Development Commission (MHDC) • Illinois Housing Development Authority (IHDA) • Rural Housing Development Authority (RHDA)

us an e-mail, or stop by one of our convenient locations.

Let us know how we may be of service — Simply call, drop

CONTACT: RESIDENTIAL LENDING

CONTACT: COMMERCIAL LOAN INQUIRIES

MISSOURI

ST. LOUIS AREA & NATIONWIDE MORTGAGE SERVICE CENTER

7 North Bemiston St. Louis, MO 63105 (314) 889-0600

386 Festus Centre Drive Festus, MO 63028 (636) 931-5626

187 Hilltown Village Center Chesterfield, MO 63017 (314) 889-0600

Gershman Mortgage dba Midwest Lending 3165 So. Campbell Ave., Ste. B7 Springfield, MO 65807 (417) 888-0320

ILLINOIS

IOWA

630 Pierce Boulevard O'Fallon, IL 62269 (618) 222-1300

P.O. Box 675 Okoboji, IA 51355 (712) 332-6044

7 North Bemiston St. Louis, MO 63105 (314) 889-0600 1-800-GERSHMAN (1-800-437-7462)


GERSHMAN MORTGAGE 1-800-GERSHMAN (314) 889-0600 www.gershman.com

Gershman Mortgage 2011  

Founded in 1953, Gershman is the oldest independent mortgage company in St.Louis.

Read more
Read more
Similar to
Popular now
Just for you