has announced the addition of Managing Director Laura Saull Smith, an expert in providing financing insured by the U.S. Department of Housing and Urban Development (HUD) to owners of multifamily and healthcare properties. Saull Smith will be based in the Washington, D.C. Metro office and will report to Senior Vice President and Head of Affordable Housing and HUD Production Steve Ervin.
“When it comes to HUD financing, there are few in the industry with the knowledge and experience to match Laura,” said Ervin. “Berkadia is a leading HUD lender and we pride ourselves on constantly expanding our services to meet the ever-changing needs of clients and evolving goals of HUD. Laura and her team add to our considerable expertise and will allow us to reach more high-quality owners and developers.”
Saull Smith has more than 30 years of experience underwriting and originating commercial loans and has provided approximately $5 billion in FHA, FHLMC, FNMA and conduit transactions. She specializes in national HUD multifamily and healthcare financing, primarily under the LEAN and MAP insured programs through HUD.
Joining Saull Smith at Berkadia will be her team members Ann Bolen and Susan Bealmear. Bolen has a strong affordable housing background and spent 27 years at the Virginia Housing Development Agency. Bealmear has an accounting background with experience working for the Federal Reserve Bank. Together this team consistently received annual production awards and closed over $200 million in HUD and bridge loans.
Prior to joining Berkadia, Saull Smith was a Senior Director at Love Funding, where she was responsible for national multifamily and healthcare loan originations and repeatedly earned the title of top producer.