OptimumBank in Fla. forms unit to focus on HUD, FHA lending
OptimumBank Holdings in Fort Lauderdale, Fla., formed a new unit to support new HUD and FHA lending initiatives.
OptimumFunding is expected to expand the company’s commercial real estate lending capabilities by offering bridge-to-HUD financing, FHA- and HUD-insured loan origination, and servicing and relationship management.
In connection with the effort, OptimumBank will upstream a dividend to OptimumBank Holdings to facilitate a capital investment into the new unit. The amount wasn’t disclosed.