Fannie Mae Boosts Multifamily Market with Over $52 Billion in Financing for 2023
In a significant move for the multifamily housing market, Fannie Mae has disclosed its substantial financial contributions for the year 2023, amounting to over $52 billion. This considerable sum has been pivotal in broadening the availability of affordable housing across the United States. The company’s Delegated Underwriting and Servicing (DUS®) platform has been at the forefront of this expansion, marking its 36th anniversary as a cornerstone in bolstering the multifamily industry and ensuring that vital housing sectors are endowed with the necessary liquidity.
Michele Evans, Executive Vice President and Head of Multifamily at Fannie Mae, has articulated a sense of accomplishment regarding the organization’s endeavors and the beneficial outcomes they have fostered in communities nationwide. The company’s dedication is reflected in the allocation of funds across various housing segments, with notable figures such as $8.5 billion directed towards Structured Transactions, $7.5 billion in Green Financing, and $6.6 billion in Multifamily Affordable Housing. Furthermore, the company has observed a significant uptick in Manufactured Housing Communities loan production, which saw an increase from $2.7 billion in 2022 to $3.5 billion in 2023, marking a 29% rise.
Rob Levin, Senior Vice President and Multifamily Chief Customer Officer at Fannie Mae, extended gratitude to the DUS lenders for their unwavering support and adaptability in the face of a challenging market. The partnerships have been instrumental in maintaining a balance of flexibility and consistency, fostering strong borrower adoption of initiatives that emphasize affordability and positive rent payment practices.
The organization has also acknowledged the top DUS Lenders based on their business volumes in 2023. Walker & Dunlop, LLC took the lead with a substantial $6.6 billion, followed by other key participants such as Berkadia Commercial Mortgage, LLC, and Greystone Servicing Company, LLC. These lenders have been recognized not only for their overall contributions but also for their high volumes in specific categories like Multifamily Affordable Housing, Structured Transactions, and Green Financing. The rankings serve as a testament to the synergistic efforts between Fannie Mae and its partners in catering to a diverse array of housing needs, ranging from small loans to specialized sectors including Seniors Housing and Student Housing.
The extensive financing initiatives undertaken by Fannie Mae in 2023 have highlighted the organization’s unwavering commitment to the enhancement of the multifamily market and the facilitation of affordable housing access. The DUS program’s resilience and longstanding presence have empowered the company to adeptly navigate the complexities of the market while providing indispensable support to housing sectors that are crucial to communities throughout the nation. Through strategic partnerships and targeted initiatives, the firm persists in making a constructive impact, underscoring its dedication to the creation of sustainable and affordable living spaces. The success of these efforts not only reflects the robustness of the company’s platform but also the collective drive that propels forward momentum in the multifamily housing sector.
Source link
