Cain Brothers & Company announced the launch of a new division to originate and underwrite health care loans backed by the Federal Housing Administration.
To get the new business off the ground, the company has brought on Bradley Grainger and Nick Nicholson as Managing Directors.
“Few other firms in the industry can provide the same health care knowledge of Cain Brothers along with the full capability to underwrite, fund, and service FHA insured loans, all under the same roof,” said Scott Smith, Managing Director and Head of Cain Brothers’ Tax-Exempt Capital Markets. “We have sought for some time to develop this capability and believe the time is right for our clients and because we were able to attract such a strong initial senior team of FHA bankers.”
Bringing 28 years of mortgage banking experience to Cain, Grainger previously spent 17 years with an independent mortgage banking company in Syracuse. For the past 11 years, he was with Berkadia Commercial Mortgage and its predecessors, GMAC Commercial Mortgage and Capmark Finance, where he successfully concluded over 200 FHA insured projects.
Nicholson brings 17 years of investment banking and mortgage experience. Prior to joining Cain, he spent six years with Berkadia Commercial Mortgage
“Nick and I and our FHA team look forward to putting our expertise to work on behalf of Cain Brothers’ provider clients,” said Mr. Grainger. “The FHA lending area is dynamic and offers attractive financing structures and low interest costs.”