2 February 2016

Prudential originated $14.6bn in mortgage loans in 2015

David Durning, PMCC
David Durning, PMCC
Prudential Mortgage Capital Company (PMCC) provided $14.6bn in financing in 2015, a figure "driven by strong production in conventional agency loans and increasing originations in international loans."

PMCC's lending amounted to $12.7bn in the US and $1.9bn internationally. Some $3.4bn was placed in conventional and affordable multifamily loans across Fannie Mae, Freddie Mac and FHA (Federal Housing Administration); agricultural debt and equity investments amounted to $1bn.

The commercial and multifamily mortgage finance business has $15bn available for financing in 2016.

"In 2016, we intend to invest in and grow Prudential Agricultural Investments, our agricultural debt and equity platform," David Durning, CEO of PMCC said. "We also plan to further leverage our capabilities to meet broader investor demands, while continuing to be a significant debt source domestically in the United States."

PMCC is the commercial mortgage lending business of PGIM, the global investment management businesses of US-headquartered Prudential Financial. PMCC has more than $87.5bn in assets under management (AuM) and administration, and Prudential has more than $1trn in AuM.

Channels: 
SAA/ALM
Companies: 
PrudentialPMCC
People: 
David Durning
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