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Tuesday, March 31, 2015 7:43:50 PM
http://www.streetinsider.com/SEC+Filings/Form+8-K+LEUCADIA+NATIONAL+CORP+For%3A+Mar+02/10328227.html
Berkadia Commercial Mortgage
Berkadia, our 50/50 joint venture with Berkshire Hathaway, had another strong year in 2014. Despite a slow first quarter, Berkadia originated $12.8 billion in new financing for its clients, up nearly 23% over 2013. For 2014, Berkadia was the single largest originator for HUD ($1.5 billion), the second largest Freddie Mac originator ($4.4 billion) and the third largest originator for FNMA ($2.7 billion). Although Berkadia’s $4.1 billion of investment sales in 2014 were flat versus 2013, significant progress was made in the integration of the mortgage banking and investment sales teams. The combination of these capabilities allows us to better serve our clients and we expect it will lead to accelerated growth for the entire enterprise. With a large commercial real estate refinancing wave coming in 2015 and 2016, expectations are high for the future of Berkadia. Our relationship with Berkshire Hathaway remains outstanding and we look forward to continued success together. We also look forward to working with Justin and the Berkadia senior leadership team as they continue to grow Berkadia into the best full service mortgage banking firm in the industry.
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