The Commercial and Multifamily Real Estate Lending Division of Magna Bank is positioned as a one-stop shop for commercial and multifamily lending. We fill the role as both a Direct Lender and a Mortgage Banker.

Magna has assembled an experienced, professional staff with a wide range of abilities, skills, and contacts in the banking and mortgage banking fields. This team provides our customers with the best combination of traditional deposits, lending, and mortgage banking services.

As Direct Lender: We offer a variety of short term construction, acquisition, renovation, and mini-perm loans.
As Mortgage Banker: Through our Correspondent Lenders, we offer a variety of short term construction, acquisition, renovation and mini-perm loans.

Most lenders or Mortgage Brokers attempt to “sell” a customer on a particular loan because that is the only product that they have to offer. At Magna, we consult with our real estate customers to determine the best loan structure to suit their specific need for the particular transaction. Whether it's a long term, fixed rate, non-recourse loan placed with one of our correspondents or a short term, interest only acquisition renovation loan for the bank's account, Magna is dedicated to providing our customers with the best loans available to enhance their deals.

Correspondent and Brokerage Lending Relationships

Traditional commercial banks typically offer construction and mini-perm loan for their commercial real estate customers. In addition to providing these structures, Magna also provides long term, permanent loans through its network of lending relationships. Utilizing our relationships with a variety of insurance companies, Wall Street firms, and banks, the staff of Magna is committed to structuring the best loans available for our clients. The following provides a representative list of permanent lenders with whom we have worked:

ABN Amro
Aegon
Business Man's Assurance
Column Financial
Deutsche Bank
Freddie Mac
Genworth (formerly GEAM, General Electric Financial Assurance)
Innovative Capital Advisors
LaSalle Bank
Manulife
Ohio National
Principal Financial
Protective Life
Salomon Smith Barney
Summit Investment Partners
Thrivent Financial
UBS Warburg
Union Central Life

Our Personnel

Frank Stallworth serves as President of the Commercial and Multifamily Division and is Executive Vice President of Magna Bank. Frank manages the division and is responsible for new loan origination and investor relations. Frank graduated from the University of Tennessee and has over 32 years of experience in both the banking and mortgage banking fields.

Davant Latham serves as Senior Vice President of the Commercial and Multifamily Division and is responsible for new loan production and investor relations. Mr. Latham has over 45 years of experience in the mortgage banking industry, and most recently was President and Owner of The Latham Company, a local mortgage banking company.

Randy Engel serves as Senior Vice President of the Commercial and Multifamily Division and is responsible for new loan production and investor relations. Mr. Engel's educational background includes an undergraduate degree in marketing from Christian Brothers University in Memphis and a graduate degree in Real Estate Development from the University of Memphis. Randy has 12 years experience as a mortgage banker and is a member of Lambda Alpha International.

Rhett Armistead serves as Vice President and Senior Underwriter for the Commercial and Multifamily Division. Mr. Armistead attended the University of Mississippi where he received an undergraduate degree in banking and finance and a graduate degree in law. He is a licensed attorney with five years of commercial and real estate banking experience.

Connie Temming serves as Assistant Vice President and Senior Loan Analyst of the Commercial and Multifamily Division of Magna Bank. Her primary responsibility is assisting the producers with the origination, underwriting and closing of commercial real estate loans. Ms. Temming has over 27 years experience in the mortgage lending area.

Ginger Cody serves as Sr. Loan Analyst for the Commercial and Multifamily Division of Magna Bank. Her primary responsibility is assisting the producers with the origination, underwriting and closing of commercial real estate loans. Ms. Cody has over 22 years experience in the mortgage lending area.

Deborah McBride serves as Senior Servicing Specialist of the Commercial and Multifamily Division of Magna Bank, and is responsible for all loan administration and daily operations of the bank's rapidly expanding commercial loan servicing portfolio. Ms. McBride has over 17 years of experience in servicing commercial and multifamily loans.

 

Contact Us

For more information regarding the Commercial and Multifamily Lending Division, please feel free to email any one of us by clicking on the names above or call us at 901.259.5450.