AGM Financial Services

AGM Financial Services, Inc. is a family-owned, MAP-approved mortgage banking firm based in Baltimore, Maryland. Since its founding in 1990 by Margaret Allen, AGM has originated over $10 billion in FHA-insured multifamily loans.

The firm provides long-term, fixed-rate financing for new construction, substantial rehabilitation, acquisition, and refinancing of multifamily rental housing. Their services support both market-rate and affordable housing developments, including senior, healthcare, and LIHTC-financed projects.

AGM is a national FHA Multifamily Accelerated Processing (MAP) lender and GNMA-approved servicer. Its flagship program is HUD’s Section 221(d)(4) loan for new construction and substantial rehab, often layered with LIHTC, tax-exempt bonds, and subordinate financing.

With headquarters in Baltimore and origination offices in Chicago and St. Louis, AGM maintains a national presence. Notable deals include:

The Depot at North Salem (NC) – $47.2M, 228 units, construction-to-perm
2911 Rhode Island Ave (DC) – $14.4M, 100-unit income-restricted apartment
Willow Manor at Cabin Branch (MD) – $20.8M, 125-unit senior housing (LIHTC + bonds)
Ellsworth (MD) – $50.9M, 222-unit Class A apartments

AGM is led by Margaret Allen (CEO & Founder), Myles Perkins (President), and Carrie Papa (Senior VP/CFO), with a team of experts in underwriting, origination, and servicing. Their work supports HUD’s RAD program and FHA 221(d)(4) pipeline across urban and suburban markets.

AGM Financial Services is guided by a seasoned leadership team with deep experience in HUD-insured multifamily finance. The executive team includes:

Margaret Allen – Founder, CEO, and Chair of the Board. With over 40 years in FHA lending, Margaret established AGM in 1990 and continues to lead its strategic direction.
Myles D. Perkins – President and owner. A principal in the firm’s day-to-day operations and client relationships.
Carrie L. Papa – Senior Vice President and Chief Financial Officer. Joined AGM in 1999 and leads the Servicing and Finance divisions.

The broader team includes nationally recognized experts in underwriting, origination, servicing, and asset management:

Krista Boblitz-Randolph – Head of Servicing
Troy Brown – Chief Underwriter
Brent Frank – Senior Vice President, Chicago Office
Randall Forguson – Origination Associate, St. Louis Office

This team brings extensive FHA, GNMA, RAD, and LIHTC experience to every transaction, enabling AGM to structure and execute highly customized deals in complex environments.

AGM Financial Services provides a full suite of FHA-insured multifamily lending solutions across market-rate, affordable, senior, and healthcare sectors. Its services include loan origination, underwriting, funding, and servicing.

FHA Loan Programs

Section 221(d)(4): New construction and substantial rehabilitation of multifamily housing (family, senior, mixed-income). Features 40-year amortization and up to 90% loan-to-cost.
Section 223(f): Acquisition or refinancing of stabilized properties.
Section 231: Housing for elderly projects.
Section 220: Urban renewal and opportunity zone projects.

Specialized Initiatives

HUD’s Rental Assistance Demonstration (RAD)
LIHTC Pilot Program (4% and 9% tax credit integration)
Tax-exempt bond and subordinate financing structures
Construction-to-permanent financing with fixed interest rates

AGM supports both conventional and affordable housing deals nationwide, leveraging its MAP-approved status and Ginnie Mae (GNMA) servicing authority to deliver stable long-term financing for multifamily developers and housing authorities.

Selected 221(d)(4) Projects

The Depot at North Salem – Apex, NC
$47,233,300 FHA-insured loan for a 228-unit luxury rental community (closed Nov 2024).
2911 Rhode Island Avenue – Washington, DC
$14,450,500 FHA loan for 100-unit income-restricted apartment (closed Jan 2025).
Willow Manor at Cabin Branch – Clarksburg, MD
$20,837,400 FHA loan for senior housing with 4% LIHTC and bonds (closed Jan 2023).
Ellsworth – Silver Spring, MD
$50,973,600 loan for 222-unit Class A development (closed 2012).

Impact and Scale

AGM has closed over $10 billion in FHA-insured multifamily loans across the United States. The firm excels at structuring large, complex deals by combining HUD programs with tax credits, subordinate debt, and innovative capital stack strategies. Many of AGM’s loans exceed $30M–$50M, including family, elderly, and mixed-income projects.

HUD MAP Approval

AGM Financial Services is an approved HUD Multifamily Accelerated Processing (MAP) lender, as confirmed by HUD’s 2024 MAP roster. This designation authorizes AGM to originate and underwrite FHA-insured multifamily loans nationwide using streamlined procedures.

FHA & GNMA Licensing

AGM operates as a nationally licensed FHA lender and is also an approved Ginnie Mae (GNMA) seller/servicer. These credentials allow AGM to directly endorse HUD-insured loans and securitize them through GNMA, facilitating access to long-term capital for multifamily projects.

Geographic Coverage

Headquartered in Baltimore, Maryland, AGM manages national operations under a single FHA license. It has expanded its origination team to Chicago and St. Louis, supporting clients throughout the Midwest and beyond. All lending remains coordinated through the Baltimore HQ.

Verification Sources

HUD MAP lender list (hud.gov)
Ginnie Mae approved issuer registry
AGM’s public disclosures and website (agmfinancial.com)
Industry publications (Multi-Housing News, CityBiz)

Contact Information

AGM Financial Services, Inc.
20 S. Charles Street, Suite 1000
Baltimore, MD 21201

Website:
https://www.agmfinancial.com

Regional Origination Offices:
Chicago, IL – SVP Brent Frank
St. Louis, MO – Randall Forguson

Licensing:
MAP-Approved HUD Lender
Nationally licensed for FHA multifamily finance
GNMA seller/servicer