Education: Bachelor of Arts, Finance – University of Illinois, Champaign/Urbana, Illinois 1978.
Masters of Business Administration, Finance – Loyola University of Chicago, 1983.
Professional: 1985 through Present – Cambridge Realty Capital Ltd. of Illinois, President & Principal
FHA Mortgagee 12739 – GNMA Issuer No. 3733 Principal; responsible for all HUD-insured multifamily and healthcare loan underwriting, regulatory compliance, construction loan servicing administration, permanent loan servicing administration, investor relations and mortgage accounting, and supervision of FHA-approved Mortgagee and GNMA Seller/Servicer. Current Servicing Portfolio $800,000,000.
Accomplishments: 1978 thru 1985 – Percy Wilson Mortgage and Finance Group,
HUD-Insured – Multifamily Lending
Overview: Mr. Erkes has spent his entire professional career of 31 years in the business of originating, processing, underwriting and servicing HUD-insured multifamily and healthcare loans pursuant to applicable sections of the National Housing Act. Mr. Erkes is a MAP Approved Underwriter, a MAP Approved Section 232 Healthcare Underwriter and a Section 232 LEAN Approved Underwriter.
Mr. Erkes has acted as sole MAP Underwriter for 104 HUD MAP Loans closed since the MAP Program began in 2001. The 104 MAP Loans total approximately $815,000,000. Of these 104 MAP Loans, 94 of the loans have been for the refinance and purchase or sub-rehab or new construction of healthcare facilities pursuant to Section 232 of the National Housing Act, totaling $720,000,000 in aggregate MAP healthcare financings.
In addition to these 104 MAP Loans, between 1979 and 2001 Mr. Erkes has processed and closed 78 loans pursuant to Section 232 of the National Housing Act. These 78 loans totaling approximately $575,000,000 in healthcare financing were HUD-Insured Loans utilizing Traditional Processing methods.
Mr. Erkes has acted as Housing Consultant for 28 Section 202/811 programs totaling approximately $60,000,000 and producing 1,127 units of Section 202/811 Housing.
Mr. Erkes has developed a renowned sub-specialty in the healthcare lending field. Cambridge and Mr. Erkes are recognized as nationwide experts in this field, and are often quoted in the country’s leading healthcare journals, including McKnight’s Long-Term Care, Nursing Home Magazine, Contemporary Long-Term Care, and Provider magazines. Mr. Erkes has spoken on the subject of Section 232 nursing home financing at national conferences, including the National Investment Conference and the Assisted Living Federation of America. Cambridge Realty Capital Ltd. of Illinois has continually been among the nation’s annual leaders in HUD Section 232 loan originations.
Mr. Erkes also participates on the LEAN Transition Committees for Asset Management, assisting HUD in the transition of the Section 232 Program from MAP to LEAN. He was among a select few participants chosen by senior HUD executives in creating the implementation elements to the LEAN transition and was instrumental in the design of the Asset Management procedures for HUD lenders in healthcare financing.