AGM Financial Services
AGM Financial Services is a Baltimore-based FHA Lender founded in 1990 that originates, underwrites, closes, funds, and services FHA-insured multifamily loans for private developers, nonprofit developers, and public housing authorities nationwide, with over $10 billion in closed loans.
- Company typePrivate
- Founded1990
- HeadquartersBaltimore, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What AGM Financial Services does
AGM Financial Services is a Baltimore-based FHA Lender founded in 1990 by Margaret Allen that specializes in FHA-insured multifamily financing for market-rate and affordable housing communities nationwide. The company operates as a fully integrated boutique lender, originating, underwriting, closing, funding, and servicing all of its own loans without third-party handoffs. AGM is an approved FHA Multifamily Accelerated Processing (MAP) lender and Ginnie Mae Seller/Servicer, enabling it to issue mortgage-backed securities backed by FHA-insured loans. With over $10 billion in closed loans across 315 transactions and 30+ years of HUD/FHA relationships, the company serves three primary segments: private multifamily developers (primary), nonprofit developers, and public housing authorities.
The company's core products include FHA-insured construction/permanent loans under Section 221(d)(4) for new construction and substantial rehabilitation (up to 87-90% LTC, 40-year terms, 1.11-1.15 DSCR), refinance and acquisition loans under Section 223(f) (up to 87-90% LTV, 35-year terms), supplemental second mortgages under Section 241(a), RAD Program financing for public housing conversions, LIHTC Pilot Program integration, and a developing Bridge Lending Program. AGM offers competitive structural features including non-recourse construction and permanent financing, fully amortizing loans with up to 40-year terms, fully assumable loans, low DSCR requirements, and no personal/corporate guarantees. The firm maintains offices in Baltimore (headquarters), Chicago, and St. Louis, serving borrowers nationwide.
AGM's business model generates revenue through FHA loan origination fees (one-time), ongoing Mortgage Insurance Premiums (MIP, recurring), loan servicing revenue (recurring), and interest income on construction and permanent loans. The company maintains a flat organizational structure with direct access to senior decision-makers and no layers, gatekeepers, or committees. Its enterprise field sales motion targets multifamily developers, public housing authorities, and nonprofit developers through relationship-driven origination by experienced senior staff. With 60%+ repeat borrowers and active participation in industry associations (MBA, NAHB, NMHC, ULI), AGM has built deep relationships within the FHA multifamily ecosystem. The firm is family-owned with Margaret Allen as CEO and Owner and Myles Perkins as President and Owner, and operates with 11-50 employees.
AGM Financial Services firmographics
Firmographics- Name
- AGM Financial Services
- Legal name
- AGM Financial Services, Inc.
- Website
- https://agmfinancial.com
- Company type
- Private
- Founded year
- 1990
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- AGM Financial Services is a Baltimore-based FHA Lender founded in 1990 that originates, underwrites, closes, funds, and services FHA-insured multifamily loans for private developers, nonprofit developers, and public housing authorities nationwide, with over $10 billion in closed loans.
- Ownership category
- akta.pro rank
AGM Financial Services industry classification
Industry- Product category
- FHA Multifamily Lending
- NAICS
- Finance and Insurance (52), Sales Financing (52222)
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Government-Backed CRE Lending (FHA/HUD/USDA) (FSALADAE)
- akta.pro secondary industries
- Agency (GSE) Multifamily Lending (FSALADAD), Government Mortgage Insurance & Guarantees (FHA/VA/USDA and equivalents) (FSALAJAC)
Keywords
Where AGM Financial Services is headquartered
LocationHeadquarters
- HQ city
- Baltimore
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
AGM Financial Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- FHA Loan Origination Fees: Fees charged at origination for processing and underwriting FHA-insured multifamily loans. Borrowers pay a modest Mortgage Insurance Premium (MIP) for the life of the loan.
- Mortgage Insurance Premiums (MIP): Ongoing MIP payments collected throughout the life of FHA-insured loans as required by FHA.
- Loan Servicing Revenue: Revenue from servicing FHA-insured loans including draw management, compliance oversight, and borrower support throughout the loan lifecycle.
- Interest Income: Interest earned on FHA-insured construction and permanent loans during the loan lifecycle.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Market Rate New Construction - Up to 87% LTC, 1.15 DSCR, 40-year term |
| Other | Multi-year contract | Affordable New Construction - Up to 90% LTC, 1.11 DSCR, 40-year term |
| Other | Multi-year contract | Market Rate Refinance/Acquisition - Up to 87% LTV (no cash out), 35-year term |
| Other | Multi-year contract | Affordable Refinance/Acquisition - Up to 90% LTV, 35-year term |
Go-to-market motion2 records
Distribution channels1 record
Marketing channels6 records
AGM Financial Services product offering
Product offeringCore offering
AGM Financial Services is an FHA Lender that originates, underwrites, closes, funds, and services FHA-insured multifamily loans under the HUD Multifamily Accelerated Processing (MAP) program. The company provides construction/permanent loans, refinance and acquisition loans, and supplemental second mortgages for market-rate and affordable multifamily housing developers, nonprofit developers, and public housing authorities. AGM is also an approved Ginnie Mae Seller/Servicer, enabling issuance of mortgage-backed securities backed by FHA-insured loans.
Product overview
AGM Financial Services offers a comprehensive suite of FHA-insured multifamily loan products delivered through a fully integrated platform. The core offering consists of FHA-insured construction/permanent loans under Sections 221(d)(4) and 220 for new construction and substantial rehabilitation, and Section 223(f) for acquisition and refinance. Products are differentiated for Market Rate and Affordable Housing segments, with Affordable products requiring LIHTC compliance and offering preferential MIPs. Supporting offerings include RAD Program financing for public housing conversions, LIHTC Pilot Program integration, Supplemental Second Mortgage loans under Section 241(a), and a developing Bridge Lending Program. All loans are originated, underwritten, closed, funded, and serviced in-house by AGM's team.
Differentiator
Problem solved
Functional benefit
Products and services
- Market Rate New Construction & Substantial Rehab Loans (Section 221(d)(4)) FHA-insured construction/permanent loans providing up to 87% of cost for new apartment construction or substantial rehab with 40-year term, fixed rates, and non-recourse structure for market-rate multifamily developers.
- Market Rate Refinance & Acquisition Loans (Section 223(f)) FHA-insured loans for refinancing or acquiring existing multifamily properties at 80% LTV with cash out or 87% LTV with no cash out, with 35-year fully amortizing terms.
- Affordable New Construction & Substantial Rehab Loans (Section 221(d)(4)) FHA-insured construction/permanent loans for affordable apartment projects requiring LIHTC compliance, offering 1.11 DSC and up to 90% loan-to-cost with 40-year terms and lower MIPs.
- Affordable Refinance & Acquisition Loans (Section 223(f)) FHA-insured financing for acquiring or refinancing affordable multifamily projects, available at 90% LTV with cash out or 100% of cost, with proceeds for moderate rehab up to approximately $54,000 per unit.
- Supplemental (Second) Mortgage Loans (Section 241(a)) Supplemental second mortgage financing from AGM for the rehabilitation or expansion of properties with existing FHA-insured loans.
- Bridge Lending Program A program providing borrowers with conventional construction financing for projects to be built and bridge financing for the acquisition of existing properties, structured for eventual FHA-insured takeout.
- Rental Assistance Demonstration (RAD) Program Financing Financing services for property owners converting public housing properties to long-term, project-based Section 8 contracts under HUD's Rental Assistance Demonstration Program.
- Low Income Housing Tax Credit (LIHTC) Pilot Program Financing FHA-approved financing integrated with Low-Income Housing Tax Credit programs for affordable housing projects, including coordination with state allocating agencies and syndicators.
Quantifiable outcome
- Over $10 billion in FHA-insured multifamily project loans closed nationwide
- +3 more outcomes
Companies that use AGM Financial Services
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
AGM Financial Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature2 records
AGM Financial Services partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- HUD (Department of Housing and Urban Development)coreAGM is a HUD-licensed FHA lender and approved Multifamily Accelerated Processing (MAP) lender. Direct relationship with HUD for loan insurance, commitment issuance, and ongoing oversight of FHA-insured multifamily loans.
- Ginnie Mae (GNMA)coreAGM is an approved Ginnie Mae Seller/Servicer, authorized to issue mortgage-backed securities (MBS) backed by FHA-insured multifamily loans. This enables GNMA securities to be sold to investors with full faith and credit backing.
- Mortgage Bankers Association (MBA)coreAGM is an active MBA member. Team member Stephen L. Rudow serves as Instructor for the MBA's FHA Multifamily Underwriting Training Program. Krista Boblitz-Randolph serves as Vice Chair of the MBA FHA Servicers Subcommittee.
- National Association of Home Builders (NAHB)minorAGM maintains membership and active participation in NAHB events including Fall and Spring Leadership Meetings and Legislative Conferences.
- National Multifamily Housing Council (NMHC)minorAGM holds NMHC Member status, providing access to industry resources and networking within the multifamily housing sector.
- Urban Land Institute (ULI)minorAGM maintains membership in ULI. Team member Frank Grosch is a former chair of ULI Virginia and active member. Team member Donald Moran is an active member of ULI Baltimore.
- FHA Low Income Housing Tax Credit Pilot ProgramcoreAGM is an approved Lender for FHA's Low Income Housing Tax Credit Pilot Program, enabling comprehensive financing solutions for affordable housing projects.
- Rental Assistance Demonstration (RAD) ProgramcoreAGM is highly active in the RAD Program, helping property owners convert public housing properties to long-term, project-based Section 8 contracts. Completed 28 RAD transactions nationwide with over $273 million in financing.
- Maryland Community Development Administration (CDA)coreAGM has extensive working relationships with Maryland's CDA for coordinating secondary debt and LIHTC process. In Maryland, AGM has financed nearly 2,700 affordable units in 22 projects totaling $230 million in FHA-insured financing that leveraged $400 million in LIHTC equity and CDA subordinate debt.
Scale indicators11 records
Recent moves5 records
Expansion highlights5 records
AGM Financial Services competitors and assessment
Company assessmentDirect peers
- Greystone: Greystone is one of the largest FHA multifamily lenders in the U.S., providing FHA-insured financing for market-rate and affordable multifamily properties under the MAP program. Directly competes with AGM for the same developers, PHAs, and nonprofit sponsors with similar Section 221(d)(4) and 223(f) products.
- Love Funding Corporation: Love Funding is a direct FHA multifamily lender specializing in affordable housing and HUD-insured loans, similar to AGM's affordable housing segment. Competes head-to-head for nonprofit developer and PHA relationships with comparable product offerings.
- Hunt Real Estate Capital: Hunt Real Estate Capital (Hunt Capital Partners) provides FHA multifamily financing alongside other CRE debt products, competing directly with AGM for affordable housing, market-rate, and refinance transactions. Operates with a similar boutique relationship-driven model.
- Bellwether Enterprise Real Estate Capital: Bellwether Enterprise is a direct FHA multifamily lender with strong affordable housing expertise, competing with AGM for nonprofit and PHA clients. Similar boutique model focused on FHA-insured loans for new construction and substantial rehabilitation.
Broad incumbents
- Walker & Dunlop: Walker & Dunlop is a top-3 U.S. commercial real estate lender with a major FHA multifamily origination platform alongside Fannie Mae, Freddie Mac, and bridge lending. Significantly larger and more diversified than AGM, but competes directly for the same FHA multifamily deals.
- Berkadia: Berkadia is a major commercial real estate lender and servicer with a large FHA multifamily origination business alongside Fannie, Freddie, and CMBS products. Competes with AGM across market-rate and affordable FHA deals but offers a much broader product suite.
- Red Capital Group: Red Capital Group (a subsidiary of PGIM Real Estate) is a direct FHA multifamily lender and affordable housing financier with strong LIHTC integration. Competes with AGM particularly in affordable housing and tax credit-coordinated financing.
- JLL Capital Markets: JLL's multifamily financing platform includes FHA, agency, and CMBS origination. As a global CRE services firm, JLL competes with AGM primarily on larger market-rate transactions and institutional developer relationships.
- Capital One Multifamily Finance: Capital One's multifamily finance division provides FHA, Fannie Mae, and Freddie Mac loans for market-rate and affordable properties. As a bank-led platform, it competes with AGM on larger transactions and offers substantially greater capital backing.
Emerging players
- Pillar Capital Finance (formerly MMC Group): Pillar Capital Finance is a boutique FHA multifamily lender with a similar boutique, relationship-driven model to AGM. Competes for the same mid-market developer relationships with comparable product focus on affordable and market-rate FHA financing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
AGM Financial Services social profiles
Digital presenceAGM Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
AGM Financial Services leadership team
Management profileNumber of profiles
Profiles13 records
AGM Financial Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AGM Financial Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AGM Financial Services
What does AGM Financial Services do?
AGM Financial Services is an FHA Lender that originates, underwrites, closes, funds, and services FHA-insured multifamily loans under the HUD Multifamily Accelerated Processing (MAP) program. The company provides construction/permanent loans, refinance and acquisition loans, and supplemental second mortgages for market-rate and affordable multifamily housing developers, nonprofit developers, and public housing authorities. AGM is also an approved Ginnie Mae Seller/Servicer, enabling issuance of mortgage-backed securities backed by FHA-insured loans.
Is AGM Financial Services a public or private company?
AGM Financial Services is a private company. It is classified as family owned and is currently operating.
When was AGM Financial Services founded?
AGM Financial Services was founded in 1990. It employs 11 to 50 people.
Where is AGM Financial Services based?
AGM Financial Services is headquartered in Baltimore, United States, in the North America region.
How does AGM Financial Services make money?
Four revenue lines are on record. FHA Loan Origination Fees are the primary driver. The others are mortgage Insurance Premiums (MIP), loan Servicing Revenue and interest Income.
Who are AGM Financial Services's main competitors?
Direct peers on record are Greystone, Love Funding Corporation, Hunt Real Estate Capital and Bellwether Enterprise Real Estate Capital. Broad incumbents are Walker & Dunlop, Berkadia, Red Capital Group, JLL Capital Markets and Capital One Multifamily Finance. Pillar Capital Finance (formerly MMC Group) is listed as an emerging player.
Does AGM Financial Services have an API?
No public API is recorded for AGM Financial Services.
What industry is AGM Financial Services in?
AGM Financial Services's product category is FHA Multifamily Lending. Its primary akta.pro industry code is FSALADAE, Government-Backed CRE Lending (FHA/HUD/USDA), with a secondary code of FSALADAD, Agency (GSE) Multifamily Lending. Its NAICS code is 52 and its SIC code is 6162.