Inside FHA Lending: How to Get the Best Rate (and Keep It) with Cortney Mauldin, Commercial Loan Originator Specializing in FHA, Fannie Mae, Freddie Mac and Balance Sheet Lending

Cortney Mauldin is a seasoned FHA loan originator based out of St. Louis with a remarkable track record in commercial real estate finance. Over the past five years, he has originated $375 million in HUD-backed loans and has overseen more than $4 billion in loan volume throughout his career. Beginning his journey in 2003 as an entry-level FHA underwriter, Cortney rose through the ranks thanks to his analytical mindset and passion for real estate. He now plays a critical role in FHA multifamily lending, working on everything from market-rate apartments to senior housing projects nationwide.In this episode, Cortney unpacks the structure and strategy behind FHA and HUD loans, including the advantages of step-down prepayment models, streamlined refinancing options like 223(a)(7), and the nuanced role of underwriting vs origination. He offers clarity on how HUD compares to Fannie and Freddie in terms of cost, timing, and leverage, and shares timely insights into how rising interest rates are affecting deal valuations and debt proceeds. Cortney also discusses the importance of mentors, professional resilience, and finding personal joy outside of work — all while giving listeners a behind-the-scenes look at what it's like to manage complex real estate transactions.Connect with the Host Twitter: ⁠twitter.com/ItsRajTut LinkedIn: ⁠https://www.linkedin.com/in/rajtut/ Instagram: ⁠instagram.com/ItsRajTut TikTok: ⁠https://www.tiktok.com/@itsrajtutConnect with the Guest LinkedIn:https://www.linkedin.com/in/cortney-mauldin-86703b6/ Company Website: https://berkadia.com/Timestamps 00:00 Introduction to Cortney and her FHA loan experience00:44 Cortney’s career background and transition into origination02:53 How she entered commercial real estate and her early real estate investments04:36 The underwriting-to-origination journey and differences in skillsets06:51 Art vs science in underwriting and origination08:13 HUD’s low default rate and how the insurance model works10:02 Comparing HUD, Fannie, and Freddie — process, timing, and leverage12:04 What limits HUD loans today and how interest rates impact them14:54 Step-down prepayment penalties and HUD refinancing options17:10 Loan mods vs 223(a)(7) streamlines explained18:50 Minimum deal size and when HUD makes financial sense21:13 Accessibility standards and post-closing repairs23:09 How Cortney evaluates deals and determines pricing25:38 The coming wave of maturities and why multifamily is more resilient than office27:40 How HUD plays a countercyclical role in the capital markets29:08 Appraisal strategy and how underwriters adjust value estimates31:06 Risk, compliance, and protecting underwriter credibility34:07 How Cortney manages complex workflows and borrowers’ expectations37:55 Why borrowers should consider FHA financing40:54 New HUD rule changes making it easier to refinance new construction42:19 Cortney’s advice on mentorship, long-term growth, and life balanceThis podcast is brought to you by Storyboard Living.If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email [email protected] with us at our Website: https://storyboardliving.com/ LinkedIn profile: https://www.linkedin.com/company/storyboard-living/