Fannie Mae’s $52 Billion Financing Fuels Multifamily Market Growth
In a substantial move to bolster the multifamily market, Fannie Mae has infused over $52 billion into the sector during the past year. This strategic financial support has played a pivotal role in enhancing the availability of affordable housing, addressing a pressing need in communities across the United States. The company’s Delegated Underwriting and Servicing (DUS®) platform, now in its 36th year, remains a key component in these efforts, complemented by a robust commitment to Low-Income Housing Tax Credit investments.
Michele Evans, the Executive Vice President and Head of Multifamily at Fannie Mae, takes pride in the organization’s accomplishments over the past year. The DUS program’s resilience has been central to sustaining the multifamily industry and ensuring essential liquidity across various housing sectors. The company’s financial contributions have been distributed across several critical segments, with $8.5 billion directed towards Structured Transactions, $7.5 billion to Green Financing, and $6.6 billion to Multifamily Affordable Housing. A notable 29% increase in Manufactured Housing Communities loan production was also observed, culminating in $3.5 billion for the year 2023.
Rob Levin, Senior Vice President and Multifamily Chief Customer Officer at Fannie Mae, commends the DUS lenders for their flexibility and support during a challenging market year. The synergy between Fannie Mae and its lending partners has been essential for continuity and has encouraged borrower participation in initiatives focused on affordability and workforce housing.
The organization has also acknowledged the top DUS Lenders of 2023 for their significant contributions to the highest business volumes in various categories, including Multifamily Affordable Housing, Structured Transactions, Green Financing, Small Loans, Manufactured Housing Communities, Seniors Housing, and Student Housing.
Leading the top 10 DUS Lenders was Walker & Dunlop, LLC, with a notable volume of $6.6 billion, followed by Berkadia Commercial Mortgage, LLC, and Greystone Servicing Company, LLC. These collaborations have been instrumental in enabling Fannie Mae to achieve its objectives and provide effective support to the multifamily market.
The focus on multifamily affordable housing has been particularly commendable, with Berkadia Commercial Mortgage, LLC, and CBRE Multifamily Capital, Inc. emerging as top producers in this segment. The drive towards green financing is a testament to Fannie Mae’s dedication to sustainable development, with Walker & Dunlop, LLC at the forefront of this initiative.
The financial endeavors of Fannie Mae throughout 2023 have made a significant mark on the multifamily market, with over $52 billion channeled into various housing sectors. The organization’s unwavering commitment to affordable housing, environmental sustainability, and cooperative relationships with DUS lenders has profoundly influenced communities nationwide. The past year’s achievements highlight the firm’s dedication to ensuring liquidity and fostering a stable, supportive climate for the multifamily industry.
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