According to its release, the condo-centric lending division will work directly with condo associations for project approvals. In addition, it will provide consulting services for developers and their sales and marketing teams.
“Building on the success of Caliber’s builder division and home renovation lending division, there is a sharp focus on new condo development as condominiums continue to attract more buyers as single-family home inventory remains low and people return to urban areas,” said Christine Madrid, national condo director at Caliber.
Caliber has brought together a team of condo-focused loan consultants and branch managers for the new division, as well as new construction operations and fulfillment teams, a new construction-specific appraisal panel, and an in-house condo project approval team.
“Our team of condo specialists will help ensure efficiencies, offer loan product expertise, help secure condo project approvals and serve as a liaison between developers and condo buyers to simplify condo processes and approvals,” Madrid said.