Fannie Mae and 24 lenders that are part of an underwriting and servicing risk-sharing program provided $28.9 billion in financing for 446,000 units of multifamily housing in 2014. Fannie backstopped nearly all of those loans through its mortgage-backed securitization execution.
āItās not just the volume thatās impressive, itās the quality of the business,ā said Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae. āWeāre taking smart risks and winning the right dealsā in what she described as an āincredibly competitiveā market.
Fannie Maeās Delegated Underwriting and Servicing (DUS) program has played a significant role in the multifamily housing market for 27 years. For 2014, Fannie singled out Bethesda, Md.-based commercial real estate finance company Walker & Dunlop, with 22 officers nationwide, as the lender in that program that produced the highest volumes of multifamily housing.Ā Walker & Dunlop was followed by Wells Fargo Multifamily Capital, Berkadia Commercial Mortgage, CBRE Multifamily Capital, and PNC Real Estate.
Capital One Multifamily Finance was the DUS programās leading producer for affordable multifamily housing. And KeyBank National Associationās lending produced the most seniors multifamily housing.
All told, the two government-sponsored enterprises, Fannie Mae and Freddie Mac, and its lenders provided $57.2 billion to finance the construction of more than 850,000 multifamily housing units. Ā
Freddieās $28.3 billion in multifamily volume was the second most in its history. CRBE Capital Markets was Freddieās leading āProgram Plusā seller for multifamily financing; Citibank produced the most affordable multifamily housing through this program; Walker & Dunlop the most very low-income units; and CRBE the most seniors housing.