Fannie Mae and its Lenders Finance $33.8 Billion in Multifamily Loans in 2012
DUS® Risk Sharing and MBS Execution are Keys to Bringing Private Capital to
WASHINGTON, Feb. 4, 2013
WASHINGTON, Feb. 4, 2013 /PRNewswire/ -- Fannie Mae (FNMA/OTC) provided $33.8
billion in financing to the multifamily market in 2012, the third highest
acquisition year in its history. The company remained the largest source of
multifamily financing in 2012, working with lender partners to finance nearly
560,000 units of multifamily housing. Approximately 98 percent ($33.1
billion) of the loans that Fannie Mae financed in 2012 were delivered through
"In 2012 the multifamily market was strong, with solid fundamentals remaining
in place," said Jeffery Hayward, Senior Vice President, Head of the
Multifamily Mortgage Business, Fannie Mae. "Private capital continued to
return to the market, an important step to restoring a more normal lending
environment. Having a balanced market with diverse sources of liquidity and
credit means the whole market is healthy and everyone is doing their part. We
look forward to continuing our work to provide liquidity, stability and
affordability to the rental housing market."
Fannie Mae has relied on its Delegated Underwriting and Servicing (DUS)
program to play a significant role in the multifamily housing market for
twenty-five years. This unique private capital model provides effective,
reliable financing solutions that help lenders and borrowers succeed. DUS
relies on shared risk with lenders, or "skin in the game," and provides
certainty and speed of execution, delegated underwriting and servicing,
competitive pricing, and strong credit risk management. Fannie Mae's DUS
lenders delivered 98 percent of the company's 2012 multifamily loan
"As we head into the 25^th year of our DUS program, we continue to see the
benefits that shared risk provides in supporting sound multifamily lending,"
said Manuel Menendez, Jr., Senior Vice President, Head of Multifamily Customer
Engagement, Fannie Mae. "Since DUS began, Fannie Mae and our lender partners
have been the leading source of financing for rental housing units affordable
to working families with incomes up to 100 percent of area median income. In
fact, 88 percent of the units in our current book of business support families
at or below area median income. Fannie Mae is committed to serving the
nation's rental market in the years to come. We thank all of our DUS lenders
for their work and congratulate them on another outstanding year."
The following are the top 10 DUS lenders that produced the highest volume
through the DUS platform in 2012, listed in descending order:
Top 10 DUS Producers in 2012:
1.Walker & Dunlop, LLC
2.Wells Fargo Multifamily Capital
3.Beech Street Capital, LLC
4.CBRE Multifamily Capital, Inc.
5.Berkeley Point Capital LLC
6.Berkadia Commercial Mortgage, LLC
7.M&T Realty Capital Corporation
8.Arbor Commercial Funding, LLC
9.PNC Real Estate
10.Greystone Servicing Corporation, Inc.
Additional 2012 production highlights include the following specialty
categories, which are part of the overall total multifamily investment number:
oMultifamily Affordable Housing, which provides financing for
rent-restricted properties and properties receiving other federal and
state subsidies: $3.8 billion, up from $2.3 billion in 2011.
oSmall Loans (loans of up to $3 million, or $5 million in high cost areas):
$3 billion, up from $2.4 billion in 2011.
oLarge Loans (loans $25 million or higher): $11.6 billion, an increase of
$4.7 billion from 2011.
oManufactured Housing Communities: $912 million, an increase of $377
million from 2011.
oStudent Housing: $712 million, an increase of $233 million from 2011.
oStructured Transactions: $1.8 billion, a slight decrease from 2011's $2
oSeniors Housing: $1.2 billion, a slight decrease from 2011's $1.4 billion.
As the largest source of financing in the multifamily sector, Fannie Mae
remains a reliable partner across the spectrum of the nation's rental housing
Fannie Mae enables people to buy, refinance, or rent a home. We play a leading
role in America's economic recovery today and in building a better housing
finance system for the future.
Follow us on Twitter: http://twitter.com/FannieMae.
SOURCE Fannie Mae
Contact: Keosha Burns, +1-202-752-7840
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