The terms and value of the deal weren't disclosed. MuniMae senior vice president Jeff Muller says the DealCentral system "will speed the processing cycle" for all of his company's products. MortgageRamp president and CEO Ken Beyer adds the DealCentral system is "designed to allow MuniMae to manage and process all aspects of the loans that come through their Fannie Mae, DUS and other lending units."
Beyer says DealCentral Lender is "an end-to-end loan management system that automates the entire loan life cycle, from origination through closing, to supports is many loan and equity programs." Those programs include DUS, HUD, mezzanine, tax-exempt bond, tax credit equity and construction lending.
MuniMae manages assets secured by 2,054 properties and 223,766 apartment units in 48 states, Washington, DC and the US Virgin Islands.
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