In late December 2021, Paragon Mortgage Corporation merged with BWE. The Phoenix based team has extensive HUD insured lending experience specializing in financing apartments and healthcare projects across the country. During its 34 years, Paragon closed over $3 billion in HUD insured mortgages making it one of the largest providers of FHA financing in Arizona.
Paragon brought their existing pipeline to BWE and recently closed Lynwood Apartments, a $17,600,000 HUD 223(f) refinance for a 301 unit apartment project located in Phoenix, Arizona. As part of the new refinance, the previously HUD insured project incorporated new energy saving improvements and reduced their MIP. They also recently closed a $7,200,000 232/223(f) project located in Phoenix/Paradise Valley, Arizona. This project is a scattered site project consisting of three 10-unit assisted living residences. The residences each contain private bedrooms and bathrooms with a common living room and kitchen.
Meet the 8 person BWE Arizona FHA team:
Jim Swanson, BWE Executive Vice President and Originator was a co-founder and President of Paragon Mortgage which opened in 1987. Prior to that Jim was a Vice President at Knutson Mortgage in Minneapolis, Minnesota and in 1981 was responsible for opening the west coast regional office in Phoenix, Arizona. Jim was appointed to serve as member of the Commission chartered by Congress on Affordable Housing and Health Facility Needs for Seniors in the 21st century.
Linda Wills, BWE Senior Vice President and Originator was Paragon’s Chief Underwriter and was with the company since its beginning. Prior to joining Paragon, Linda was involved in HUD insured projects at Knutson Mortgage and Glaser Financial Group based in Minneapolis/St. Paul, Minnesota. Linda has held a variety of officer positions with lender associations and has spoken extensively on various lending topics.
Lilla Abegg-Swanson, BWE Senior Vice President and Originator was responsible for marketing and loan originations at Paragon. Lilla has over 30 years of professional experience as a senior level manager in multiple Fortune 500 Companies.
Kimberly Taynton, BWE Senior Underwriter was at Paragon for a total of 13 years. Kim was a Supervisory Project Manager and Housing Representative in the Phoenix HUD office. She also worked for a private apartment developer.
Andrew Edelstein, BWE Underwriter has been a MAP approved underwriter since 2013. Andrew has managed a high volume of new loan placements for Agency, Life Companies, CMBS and Debt Fund capital executions. Over the course of his mortgage banking career, Andrew has underwritten, processed and closed nearly 1 billion in commercial loan nationwide.
Landon Snapp, BWE Associate Underwriter, was with Paragon for 2 years. Prior to Paragon, Landon held positions as an Investment Analyst and CMBS Underwriter.
Stacey Burdick, BWE Senior Processor, had been with Paragon Mortgage for 20 years as a Project Coordinator (Processor) of HUD Insured Projects. Stacey worked directly with all the development team members to obtain all required documentation, ensure timelines were met and close the loans.
Deidra Huerta, BWE Senior Processor, was with Paragon Mortgage for over 17 years. Her background also includes several years in banking that focused on SBA lending.