WASHINGTON, DC - Fannie Mae provided $55.3 billion in financing and supported 724,000 units of multifamily housing in 2016 – the highest volume in the history of its Delegated Underwriting and Servicing (DUS) program. The company also led the market last year with $54.9 billion worth of new issue mortgage-backed securities that attracted more investors purchasing DUS MBS than ever before and provided additional liquidity to the market with more than $10 billion in Guaranteed Multifamily Structures (Fannie Mae GeMS).
"I am proud of the business we did last year with our lenders and borrowers to support affordable and workforce housing across multifamily market segments. We achieved record volumes for Affordable, Green Financing, Student Housing, and Manufactured Housing Communities," said Jeffery Hayward, Executive Vice President of Multifamily, Fannie Mae. "Our unique DUS risk-sharing model allows us to leverage lender delegation to do more business with greater certainty of execution, providing borrowers with faster decisions and quicker loan closings. Inherent in this model is a reliance on strong partnerships – from borrower to lender to Fannie Mae to investor – and everyone has a vested interest to succeed."
Fannie Mae Multifamily devoted significant resources in 2016 to invest in technology as part of an effort to support its business activities and will continue to make improvements to systems and processes in 2017. Additionally, the company introduced more frequent and transparent communication and collaboration opportunities to further enhance the customer experience and reinforce its partnerships.
"This is a relationship-based business – you need reliable, trusting partners to get deals done for borrowers and meet the needs of the rental housing market," said Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae. "Whether borrowers are in need of portfolio management strategies or looking to make their properties more energy-efficient or solving for a complex affordable transaction, Fannie Mae has the financing solutions. Thanks to our 25 DUS Lender partners, we had a remarkable 2016 and we look forward to another great year."
The following top 10 DUS Lenders produced the highest business volumes in 2016.
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Top 10 DUS Producers in 2016
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Volume ($Billion)
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1. Wells Fargo Multifamily Capital
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$11.7
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2. Walker & Dunlop
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$6.0
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3. CBRE Multifamily Capital
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$4.8
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4. Berkadia Commercial Mortgage
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$4.2
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5. Berkeley Point Capital
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$3.9
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6. Capital One Multifamily Finance
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$2.7
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7. Prudential Mortgage Capital Company
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$2.5
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8. Arbor Commercial Funding I
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$2.3
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9. Greystone Servicing Corporation
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$2.2
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10. KeyBank National Association
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$2.2
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Source: Fannie Mae / #Housing #Economy