Fannie Mae and Its Lenders Finance $28.9 Billion in 2014
- Feb 04, 2015
Washington D.C.—Fannie Mae (FNMA/OTC) provided the multifamily market with $28.9 billion in financing in 2014, working with finance partners to finance 446,000 units of multifamily housing. Fannie Mae securitized approximately 99 percent of loans that were financed through MBS execution. The company has leveraged its unique Delegated Underwriting and Servicing (DUS) risk-sharing program, which permits Fannie Mae and their lenders to be more responsive to customers and provide better services to the multifamily market.
“I am proud that Fannie Mae continues to lead the multifamily market,” said Jeffery Hayward, executive vice president and head of the multifamily mortgage business, Fannie Mae. “Our success is due both to the strength our partnerships with our lenders and to our DUS program, a unique risk retention model.”
The DUS program that Fannie Mae utilizes has played a significant role in the multifamily housing market for the past 27 years. With the support of DUS, Fannie Mae shares risk with its DUS Lenders and provides certainty and speed of execution. DUS Lenders were able to deliver 100 percent of Fannie Mae’s 2014 multifamily loan acquisitions.
“In partnership with our 24 DUS Lenders, 2014 was another great year for multifamily production,” said Hilary Provinse, senior vice president for multifamily customer engagement, Fannie Mae. Some of the production highlights include $2.6 billion in financing for multifamily affordable housing, $1.1 billion in small loans, $12.6 billion in large loans and $1.5 billion in seniors housing.