Churchill Stateside Group Attends Southwest Mortgagee Advisory Council's 2024 Conference

The Southwest Mortgagee Advisory Council (SWAC), a non-profit industry trade group for FHA Multifamily Accelerated Processing (MAP) Lenders and third-party firms in the Southwest region, held its annual conference in Fort Worth, Texas. The event brought together industry experts and stakeholders for informative discussions and valuable networking opportunities in which members of Churchill were in attendance.

"The SWAC conference provided a fantastic platform for industry professionals to connect, share knowledge, and stay informed about the latest trends in the Southwest's multifamily housing market," said Benjamin Pemberton & Evan Sweet, both Senior Underwriters at Churchill.

Keith J. Gloeckl, CEO of Churchill Stateside Group (CSG), stated "As a HUD MAP Lender, we, at Churchill, feel it is very important for our HUD staff to attend these regional meetings. This format allows our personnel to interact with the regional office, continue to increase our knowledge as a HUD Multifamily Lender, and stay updated on current policy. This is important to help ensure a timely and efficient process for our borrowers."

The conference featured panels on a variety of timely topics, including the Housing Market in the Southwest, updates from HUD Headquarters and the Regional Office, Environmental Factors, and Insurance Requirements. One item of particular importance highlighted was the release of Mortgagee Letter: 2024-05, Wind or Named Storm Insurance Coverage. Given the increasing relevance of climate change and resulting catastrophic storms, HUD has proposed to increase the maximum wind or named storm deductible to the greater of $50,000 or 5% of the insurable value per location, up to a maximum amount of $475,000 per occurrence. Attendees also participated in a Lenders Roundtable with HUD staff to discuss strategies for driving HUD loan production.

About SWAC

SWAC is a non-profit organization dedicated to strengthening the business relationship between the Southwest Regional HUB Office, Lenders, and third-party providers in Arkansas, Iowa, Kansas, Louisiana, Missouri, Nebraska, New Mexico, Oklahoma, and Texas. SWAC facilitates communication, training, and collaboration among industry stakeholders to promote the use of HUD's MAP program.

About Churchill Stateside Group

Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and commercial renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction, permanent, and bond financing solutions. With over $6 Billion of assets under management, CSG has long-standing and successful investment relationships with numerous corporate investors. The company's investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC (CMI), is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer, seller, and servicer.