WASHINGTON, Feb. 2, 2015 /PRNewswire/ -- Fannie
Mae (OTC Bulletin Board: FNMA) provided $28.9 billion in financing to the multifamily
market in 2014, working with lender partners to finance 446,000
units of multifamily housing. Fannie Mae securitized approximately
99 percent ($28.6 billion) of the
loans it financed in 2014 through its MBS execution. The company
continued to leverage its unique Delegated Underwriting and
Servicing (DUS®) risk-sharing program, which allows
Fannie Mae and its lenders to be more responsive to customers and
better serve 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 of
our partnerships with our lenders and to our DUS program, a unique
risk-retention model, which creates the only commercial MBS that
aligns the interests of the lender and Fannie Mae as the guarantor
and provides significant benefits to MBS investors. I look forward
to working with our partners in 2015 to remain the leading source
of financing and securitization for quality rental housing in
the United States, while balancing
risk and return – in every market, for every income level, every
day."
For 27 years, Fannie Mae has relied on its DUS program to play a
significant role in the multifamily housing market. Through DUS,
Fannie Mae shares risk with its DUS Lenders and provides certainty
and speed of execution; delegated underwriting and servicing;
competitive pricing; and strong credit risk management. DUS Lenders
delivered nearly 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. "The market was
incredibly competitive this year. The first half of the year was
slow for everyone, so to have reached $28.9
billion in volume is a significant accomplishment. But it's
not just the volume that's impressive, it's the quality of the
business – we're taking smart risks and winning the right
deals."
The following are the 10 DUS Lenders that produced the highest
volumes in 2014 as well as the 5 DUS Lenders that produced the
highest volumes in Multifamily Affordable Housing and Seniors
Housing in 2014, listed in descending order:
Top 10 DUS Producers in 2014:
- Walker & Dunlop, LLC
- Wells Fargo Multifamily Capital
- Berkadia Commercial Mortgage, LLC
- CBRE Multifamily Capital, Inc.
- PNC Real Estate
- Capital One Multifamily Finance, LLC
- Prudential Mortgage Capital Company
- Berkeley Point Capital LLC
- Arbor Commercial Funding, LLC
- Greystone Servicing Corporation, Inc.
Top 5 DUS Producers for
Multifamily Affordable Housing in 2014:
- Capital One Multifamily Finance, LLC
- PNC Real Estate
- Wells Fargo Multifamily Capital
- Pillar Multifamily, LLC
- Arbor Commercial Funding, LLC
Top 5 DUS Producers for
Seniors Housing in 2014:
- KeyBank National Association
- Berkadia Commercial Mortgage, LLC
- PNC Real Estate
- Wells Fargo Multifamily Capital
- Grandbridge Real Estate Capital, LLC
Production highlights for individual business categories, which
are part of the overall total 2014 multifamily production number,
are listed below.
- Multifamily Affordable Housing –
(financing for rent-restricted properties and properties receiving
other federal and state subsidies) $2.6
billion, an increase from $2.3
billion in 2013
- Small Loans – (loans of up to
$3 million, or $5 million in high-cost areas) $1.1 billion, a decrease from $2.3 billion in 2013
- Large Loans – (loans $25 million or higher) $12.6 billion, an increase from $10.4 billion in 2013
- Manufactured Housing Communities –
$496 million, a decrease from
$1.0 billion in 2013
- Student Housing – $831 million, an increase from $454 million in 2013
- Structured Transactions – $1.5 billion, a decrease from $1.9 billion in 2013
- Seniors Housing – $1.5 billion, a decrease from $1.6 billion in 2013
As the leading source of financing in the multifamily sector,
Fannie Mae remains a reliable partner across the spectrum of the
nation's rental housing needs.
Fannie Mae enables people to buy, refinance, or rent
homes.
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SOURCE Fannie Mae