OptimumBank Forms Wholly Owned Subsidiary OptimumFunding to Support New Lending Initiative
OptimumBank Holdings announced the formation of OptimumFunding, a wholly owned subsidiary created to support a new HUD and FHA lending initiative, representing a significant milestone in the Company's long-term strategic growth plan. OptimumFunding has been established to expand the Company's commercial real estate lending capabilities by offering bridge-to-HUD financing, as well as FHA- and HUD-insured loan origination, with servicing and relationship management supported by professionals with deep experience in the markets and client segments historically served by the Company. Through OptimumFunding the Company expects to offer a focused suite of financing solutions, including: Bridge-to-HUD Financing: Short-term transitional financing solutions designed to support acquisitions, refinancings, recapitalizations, and property repositioning, with the objective of facilitating a transition to long-term HUD or FHA-insured financing. FHA and HUD-Insured Loan Origination: Government-insured financing solutions for qualifying multifamily and healthcare properties, including stabilized and transitional assets. Healthcare and Multifamily Lending Focus: Specialized expertise serving skilled nursing facilities, senior housing, and multifamily assets, building upon the Company's established lending relationships and sector knowledge. In connection with the formation of OptimumFunding the Board of Directors of OptimumBank approved a dividend to OptimumBank Holdings, Inc. The Holding Company, in turn, authorized a capital investment into OptimumFunding to support initial operations and platform development. OptimumFunding has been structured to operate independently while remaining fully aligned with the Company's governance, compliance, and risk management frameworks.
