HUD lender profile
Bellwether Enterprise Real Estate Capital: HUD multifamily lending record
HUD insured 69 multifamily loans with Bellwether Enterprise Real Estate Capital as lender in FY2022-FY2026, for $1.18 billion and 9,613 units. That is 1.8% of all HUD multifamily dollars in those years and #15 among lenders.
- HUD files it as BELLWETHER ENTERPRISE REAL ESTATE CAPITA
- MAP On HUD's MAP lender list as of September 16, 2026
- Endorsement data run October 8, 2026
What the numbers say
In FY2026 it closed 15 HUD loans for $326 million, up 17% from FY2025 and ranking #14 among HUD multifamily lenders that year.
NC/SR was its largest program at 57% of five-year dollars, followed by 223(f) at 40%.
It lent in 24 states; Ohio was the largest at 12% of dollars.
Its median loan was $10.6 million, below the $14.3 million median for all HUD multifamily endorsements in the same years.
On 223(f) loans, the median time from firm commitment to initial endorsement was 85 days (33 loans), against 87 days for all lenders.
25 of its 69 loans (36%) carried low-income housing tax credits, against 32% across all HUD multifamily endorsements.
HUD volume by fiscal year
- 223(f)
- New construction / sub rehab
- Other programs
| FY | Loans | Dollars | 223(f) | NC/SR | Rank | |
|---|---|---|---|---|---|---|
| FY2026 | 15 | $326M | 7 | 5 | #14 | |
| FY2025 | 15 | $279M | 7 | 8 | #10 | |
| FY2024 | 3 | $81.2M | 1 | 2 | #25 | |
| FY2023 | 14 | $176M | 7 | 7 | #13 | |
| FY2022 | 22 | $317M | 11 | 11 | #18 | |
| FY2021 | 37 | $494M | 19 | 9 | #16 | |
| FY2020 | 19 | $166M | 11 | 5 | #29 | |
| FY2019 | 14 | $148M | 4 | 10 | #25 | |
| FY2018 | 21 | $163M | 16 | 5 | #22 | |
| FY2017 | 25 | $211M | 18 | 3 | #18 | |
| Since FY2010 | 291 | $3.15B | ||||
Program columns count loans. Rank is by dollars among all HUD multifamily lenders that fiscal year.
Program mix, FY2022-FY2026
| Program | Loans | Dollars | Median loan |
|---|---|---|---|
| New construction or substantial rehab (221(d)(4), 220, 231, 213) | 33 | $667M | $12.0M |
| 223(f) purchase or refinance | 33 | $466M | $10.2M |
| 241(a) supplemental loan | 3 | $45.1M | $8.6M |
Firm commitment to closing
Days from the firm commitment date HUD records to initial endorsement, for this lender's FY2022-FY2026 loans. This is the last stretch of a HUD deal, after underwriting is done; it is not the whole timeline from application.
- All its loans with both dates (69)
- 103 days median
- Middle half of its loans
- 75-179 days
- 223(f) (33 loans)
- 85 days
- NC/SR (33 loans)
- 162 days
- All lenders, FHA programs, FY2022-FY2026
- 91 days
Most recent HUD endorsements
| Endorsed | Property | Program | Loan |
|---|---|---|---|
| 2026-09-30 | Glenbrook Apartments · IA | 223(f) | $8.3M |
| 2026-08-20 | Rose Hill Apartments · NY | 223(f) | $10.2M |
| 2026-07-23 | Asheboro Summit · NC | 223(f) | $12.0M |
| 2026-07-23 | Villas at Friendly Heights · GA | 241(a) | $8.6M |
| 2026-06-16 | Heritage Estates at Medina · TX | NC/SR | $4.8M |
| 2026-06-05 | Parkside Reserve · AZ | NC/SR | $38.8M |
| 2026-06-04 | Abberly Rise Apartments · NC | NC/SR | $46.6M |
| 2026-05-28 | Wilshire Gardens Apartments · NM | 223(f) | $5.5M |
| 2026-05-20 | Brightleaf Townes · NC | NC/SR | $12.0M |
| 2026-03-26 | Basecamp Apartments · CO | 223(f) | $19.3M |
| 2026-02-12 | Abberly Chase II · SC | 241(a) | $30.0M |
| 2026-02-11 | Meridian Lakeview · NC | NC/SR | $81.9M |
Largest loans, FY2022-FY2026
| Property | Program | Loan |
|---|---|---|
| Meridian Lakeview · NC | NC/SR | $81.9M |
| Legado Apartments · AZ | NC/SR | $75.0M |
| Abberly Rise Apartments · NC | NC/SR | $46.6M |
| Canyon Del Rio Village · AZ | NC/SR | $43.2M |
| Falls at Meehan (fka Pendleton Apartments) · SC | NC/SR | $40.3M |
| Pueblo Springs Apartments · CO | NC/SR | $39.5M |
| The Edge at Polaris · OH | 223(f) | $39.4M |
| Parkside Reserve · AZ | NC/SR | $38.8M |
Its HUD servicing book today
HUD's active insured mortgage file (as of September 30, 2026) lists Bellwether Enterprise Real Estate Capital as servicer on 230 apartment loans with $2.29 billion of balance and 31,194 units. The median note rate on that book is 3.52%. 145 of the loans carry a rate under 4%. HUD lists the same name as holder of 229 loans.
- 223(f)
- 126 loans
- 221(d)(4)
- 76 loans
- 223(a)(7)
- 23 loans
- 241(a)
- 3 loans
- Other
- 2 loans
Largest servicing states: Ohio (38), Georgia (23), Texas (14), North Carolina (13), Illinois (12), Indiana (11).
Compare it with the rest of the market in the HUD lender league table, see what recent loans closed at on HUD rates, or read how the 223(f) and 221(d)(4) programs work.
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