Logo for Richmac Funding

RICHMAC Funding, a wholly owned subsidiary of PR Mortgage & Investments, is a national multifamily housing mortgage lender with a deep bench of talent and resources to efficiently execute multifamily housing loans. RICHMAC Funding is a Fannie Mae Affordable Lender, a Freddie Mac Targeted Affordable Housing (TAH) Seller/ Servicer, a Federal Housing Administration (FHA) MAP LEAN and LIHTC Pilot Lender, and a Ginnie Mae Issuer/ Servicer. RICHMAC Funding also has access to a full suite of multifamily loan products and works closely with its affiliate, PR Mortgage & Investments.

RICHMAC offers FHA, Fannie Mae Affordable, and Freddie Mac TAH loan products.

Other loan product information is available upon request.

Contact us at 212‐938‐0499 or info@richmacfunding.com.

FHA LOAN PRODUCTS

FHA-HUD Section 220 Market in Economic Development Area

FHA-HUD Section 232 Lean for Healthcare Properties

FHA-HUD Section 221(d)4 for Affordable Properties

FHA-HUD Section 221(d)4 for Market Rate Properties

FHA-HUD Section 223(a)7 Refinancing Existing HUD Debt

FHA-HUD Section 223(f) for Market Rate Properties

FHA-HUD 223(F) Tax Credit Pilot

FHA-HUD Section 223(f) for Affordable Properties

FHA-HUD Section 220 Affordable in Economic Development Area

FREDDIE MAC LOAN PRODUCTS

Freddie Mac Revolving Credit Facility

Freddie Mac Tax Exempt Bond Credit Enhancement

Freddie Mac Tax Exempt Loan

Freddie Mac Affordable Housing Preservation

Freddie Mac LIHTC Immediate

Freddie Mac Affordable Housing Preservation

Freddie Mac Bridge to Resyndication

FANNIE MAE LOAN PRODUCTS

Fannie Mae Tax Exempt Bond Credit Enhancement

Fannie Mae Preservation Rehab

Fannie Mae Affordable Housing Preservation

Fannie Mae LIHTC Immediate

Fannie Mae 7-4 Arm

 

Our RICHMAC Team

Michael R. Dury

Michael R. Dury

President and COO
Carmel Office

Mr. Dury joined PR Mortgage & Investments in 2007 as an investment officer. In his current position as President and COO, he oversees strategy and business development for multifamily and healthcare mortgage lending activities. The group was ranked #1 in the country in FHA Lending in 2010 and has ranked in the top 5 for seven consecutive years. He specializes in the origination of numerous multifamily rental and health care housing finance programs. Since 2010, Mr. Dury has originated over $3.9 billion of multifamily loan volume.

Mr. Dury is a graduate from The University of Notre Dame, where aside from his studies, served as team captain for the baseball team. In 2013, he received his MBA in finance from Indiana University’s Kelley School of Business and was selected as a “Future Leader” by the Mortgage Bankers Association. Mr. Dury serves on the Board of Directors of the Notre Dame Club of Indianapolis and serves as the current Club President.

Mathew Wambua

Mathew Wambua

President, RICHMAC Funding
New York Office

Mathew Wambua, President of RICHMAC Funding, is located in New York and is responsible for establishing and expanding RICHMAC Funding multifamily lending platform. Mr. Wambua was former Commissioner of the NYC Department of Housing Preservation and Development. Mr. Wambua earned a B.A. from the University of California at Berkeley and a Masters in Public Policy from Harvard.

Marsha Goff

Marsha Goff

Executive Vice President, RICHMAC Funding
Saint Paul Office

Marsha Goff, Executive Vice President of RICHMAC Funding and is located in the Saint Paul, Minnesota office. She is responsible for all production functions and oversees and approves transaction specific business and legal waivers, transaction legal document review, client negotiation and final pricing approval. Ms. Goff graduated from Saint Cloud State University with a Bachelor of Science Degree in both Real Estate Finance and Organizational Speech Communications. She is a HUD Approved MAP Underwriter, a Designated Member (MAI) of the Appraisal Institute and has underwritten or overseen over $6 billion in complex multifamily loan originations.

Matthew E. Kaercher

Matthew E. Kaercher

Senior Vice President, Originations
Carmel Office

Mr. Kaercher serves as Senior Vice President with PR Mortgage & Investments and has been with the organization since 2011. He heads up our originations team and specializes in the origination of a wide variety of multifamily and senior financing programs available at PR Mortgage. These programs include, but are not limited to financings by FHA, RHS, and PR’s parent company, Merchants Bank of Indiana.

Mr. Kaercher is a graduate from The University of Dayton and received his MBA in finance from IU’s Kelley School of Business.

Since 2011, Mr. Kaercher has served as a multifamily loan underwriter of $215 million in closed loans. Upon transferring to originations in January of 2014, Mr. Kaercher has originated or co-originated over $600 million in loans.

In addition to his duties at PR Mortgage, Mr. Kaercher is a Board Member of Near East Area Renewal (NEAR) and also serves on their Housing Committee. NEAR aims to redevelop near east side neighborhoods in Indianapolis. He also volunteers as a member of the Penrod Society which organizes a fair benefiting local arts programs.

Joseph Krengel

Joseph Krengel

Senior Vice President, RICHMAC Funding
Saint Paul Office

Joseph Krengel, Senior Vice President of RICHMAC Funding and is located in the Saint Paul, Minnesota office. He is responsible for multifamily production and underwriting. Mr. Krengel graduated from the University of Wisconsin-Madison with a Bachelor of Science Degree and received his real estate license in 1999.

Ben Levine

Ben Levine

Senior Vice President, RICHMAC Funding
New York Office

Ben Levine, Senior Vice President of RICHMAC Funding LLC, is located in Richman’s New York City office and is responsible for originating new business to provide mortgage banking solutions through the Fannie Mae, Freddie Mac and FHA/HUD lending products. Mr. Levine graduated from University of California, San Diego with a degree in Economics.

SaraBeth Mantia

SaraBeth Mantia

Senior Vice President, RICHMAC Funding
Saint Paul Office

SaraBeth Mantia joined Richmac Funding in 2012 and is located in Saint Paul, Minnesota. She specializes in the origination and project management of a wide variety of multifamily and senior housing programs. These programs include Freddie Mac, Fannie Mae, FHA/HUD, as well as Richmac’s parent company Merchants Bank of Indiana construction, bridge and acquisition/rehab loans. Ms. Mantia brings over 13 years of banking experience and prior to her current role served as Richmac’s Deputy Chief HUD Underwriter, and received her MAP underwriter approval in 2008 from the U.S. Department of Housing and Urban Development.

Ms. Mantia is a graduate from the University of St. Thomas with a Bachelor of Science degree in Real Estate Studies. She was selected as a “Future Leader” by the Mortgage Bankers Association in 2016. Ms. Mantia is a member of Minnesota Commercial Real Estate Women (MNCREW), previously serving as co-chair of the Finance Committee and currently serves as co-chair of the Member Engagement Committee.

Scott D. Chamberlain

Scott D. Chamberlain

Senior Vice President, Originations
St. Louis Office

Mr. Chamberlain joined PR Mortgage & Investments in 2016. He was responsible in the development, construction, management and financing for multifamily/elderly projects from 1976 to 1987, utilizing FHA multifamily mortgage insurance and direct HUD loans with Section 8 subsidies and other affordable housing resources. In 1987 he moved into mortgage banking specializing in FHA multifamily mortgage insurance programs. Prior to joining PR Mortgage, he worked for Berkadia for 16 years from their St. Louis office, where he financed hundreds of FHA mortgage insured multifamily and healthcare facilities across the country. He has financed, serviced or underwritten over $2 billion of FHA mortgage insured loans for multifamily and healthcare facilities in his career.

Scott graduated from Weber State University with a Bachelor of Science degree in Accounting and later received his CPA.

Michael Milazzo

Michael Milazzo

Vice President, RICHMAC Funding
New York Office

Michael Milazzo, Vice President of RICHMAC Funding, is located in New York City and is responsible for expanding RICHMAC Funding’s multifamily lending platform by providing mortgage banking solutions through the Freddie Mac, Fannie Mae, FHA/HUD lending products, as well as Merchants Bank of Indiana Construction and Acquisition/Rehab loans. Mr. Milazzo earned a Master Degree in Real Estate from NYU’s Schack Institute and holds B.A. from Sacred Heart University.

Jeffrey T. Spahn

Jeffrey T. Spahn

Vice President, Originations
Carmel Office

Mr. Spahn serves as Vice President with PR Mortgage & Investments and has been with the organization since 2007. He specializes in the origination of a wide variety of multifamily and senior financing programs available at PR. These programs include, but are not limited to financings by FHA, RHS, and PR’s parent company, Merchants Bank of Indiana. Mr. Spahn has been a part of the production team that was the #1 ranked FHA lender in 2010 and has been ranked in the top 5 for five consecutive years thereafter. Since 2009, he has originated and closed in excess of $1.038 billion in loan volume.

In 2016, Mr. Spahn completed his MBA at the University of Indianapolis. Previous to that, Mr. Spahn was a 2006 graduate of Indiana University (Bloomington) where he earned his degree in Biology and also earned a Certificate in Business Foundations from the Kelley School of Business. He has also completed several multifamily real estate finance education courses offered by the Mortgage Bankers Association.

In addition to his duties at PR and efforts to participate in outside education, Mr. Spahn serves on the Housing Committee for Hamilton County Area Neighborhood Development (HAND, INC), a local not-for-profit housing developer.

Randall D. Rogers, Jr.

Randall D. Rogers, Jr.

Vice President, Originations
Carmel Office

Mr. Rogers joined PR Mortgage & Investments in 2010 after practicing law in a variety of disciplines for nearly twelve years. As a former “white-collar” Deputy Prosecutor for Marion County, Indiana and later a defense attorney in the same practice area, Mr. Rogers began at PR as an underwriter and has received his MAP approval (2013) from the U.S. Department of Housing and Urban Development. After transitioning to the production team in late 2013, Mr. Rogers specializes in the origination of numerous multifamily rental and health care housing finance programs including conventional, FHA and RHS.

A 1995 graduate of Denison University, Mr. Rogers also graduated in 1999 from the Indiana University Robert H. McKinney School of Law and remains active and in good standing with the Indiana State Bar.

Eddie Dietrick

Eddie Dietrick

Assistant Vice President, Originations
Carmel Office

Mr. Dietrick joined PR Mortgage & Investments in July 2015. He provides support to the Loan Origination Team and Underwriting department throughout the credit process.

Mr. Dietrick is a 2014 graduate of Indiana University's Kelley School of Business, where he earned degrees in accounting and real estate finance. Prior to joining PR Mortgage, Mr Dietrick worked for a local financial institution.

Collin O'Connor

Collin O'Connor

Originations Analyst
Carmel Office

Mr. O'Connor joined PR Mortgage & Investments in 2016. He is a graduate of the University of Dayton, where he majored in Finance. Mr. O’Connor began at PR as an underwriter and has received his MAP approval from the U.S. Department of Housing and Urban Development. His previous experience includes working for a hedge fund and medical supply company.

Gus Gilmore

Gus Gilmore

Originations Analyst
Carmel Office

Mr. Gilmore joined PR Mortgage & Investments in 2017. He is a graduate of Indiana University, where he majored in Economics and minored in Mathematics. After completing an internship with PR Mortgage in 2017, he officially rejoined the team as an Originations Analyst.

Brian Shelbourne

Brian Shelbourne

Originations Analyst
Carmel Office

Mr. Shelbourne joined PR Mortgage & Investments in 2017. He provides support to the Loan Origination Team and Underwriting department throughout the credit process.

Mr. Shelbourne is a 2012 graduate of Wabash College, where he earned a B.A. in Economics, and is currently earning a Master of Professional Studies in Real Estate from Georgetown University. Prior to joining PR Mortgage, Mr. Shelbourne worked five years as a medical device and pharmaceutical sales representative.

RICHMAC Office Locations

NEW YORK
800 Third Avenue,
Suite 350
New York, NY 10022
Phone:  212-938-0499

SAINT PAUL
255 Kellogg Blvd. E,
Suite 103
Saint Paul, MN 55101
Phone:  651-299-0820

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