Berkadia closed a construction takeout in just 60 days
Berkadia and Fannie Mae teamed up to deliver a competitive full-term IO, fixed-rate construction loan. Learn how they got the deal done quickly.
LIHTC equity investments: Helping communities recover
Fannie Mae's LIHTC equity investment in Olive Ranch, an 81-unit apartment development in Oroville, CA, is helping residents who lost their homes to the Butte County, CA, wildfire of 2018.
Congrats to our 2024 Top DUS® Originators and Lender Specialty Awardees
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Welcome, Kelly Follain
We're excited to introduce Kelly Follain as our new EVP and Head of Multifamily. Her leadership and expertise will further strengthen our partnerships and drive the multifamily business forward.
DUS Sets the Standard
For over 35 years, Fannie Mae Multifamily has been a trusted source of reliable mortgage capital for the secondary mortgage market. At the forefront of multifamily financing, our Delegated Underwriting and Servicing (DUS®) platform is driven by a business-first, future-forward approach. We’re always investing in technology that can streamline the process. We’re finding new and creative ways to structure deals for our partners. Plus, we have a dedicated team bringing decades of experience in the housing industry and multifamily real estate lending to make an impact in communities across the U.S.
DUS lenders raise the bar
As the largest guarantor of mortgages in the U.S., we are a leader in multifamily housing financing. DUS is called “The Loan We All Own” because it aligns the interests of lenders, borrowers, and investors. Our DUS lenders underwrite, close, and deliver loans on our behalf while typically retaining one-third of the risk. Together, we leverage technology, disclosure and asset management tools, a strong risk management framework, and data standards to continually evolve and improve the lending experience at every step.
With the latest technology and dedicated experts on our team, we work seamlessly with every stakeholder to move us all toward a future based on ease of execution and the highest standard of excellence. That is the promise of the DUS model.
Multifamily Insights
Our partners
Explore the full list of our lender partners taking advantage of this industry-leading risk-sharing model.
Our model. Your partnership. 10 million stories.
Together, we’ve reached an incredible milestone — financing over 10 million units. Explore these properties and be inspired 10 million times over
Multifamily financing
At the core of our business is the innovation and flexibility of our financing options, which are designed to meet the unique and evolving needs of our lenders and their borrowers. We serve a wide spectrum of the market, from conventional and rent-restricted properties to niche and specialty projects, with broad expertise that distinguishes us from other partners. Our financing options offer our partners the products, initiatives, and executions that not only support reliable financing throughout the loan life cycle but also could make a measurable impact on affordable rental supply.
For example, more than 90% of the apartments we finance are “workforce housing” — units affordable to tenants with incomes at or below 120% of the area median income (AMI), such as first responders and essential service workers. Our near-stabilization execution can be combined with other products for efficient and secure deals, while Low-Income Housing Tax Credit (LIHTC) equity investments help provide affordable rental housing and supportive services to communities who need it most.
Our products are designed to adapt to different interest rate environments, providing lenders with the tools they need throughout the property life cycle to succeed in any market condition. With unmatched reliability, flexibility, and impact, we are proud to lead the charge toward more accessible and affordable rental housing in the U.S.
Affordable Housing and Green Financing
Financing affordable rental housing is at the heart of what we do. We are committed to affordable housing for the long-term and want to be a part of the preservation, rehabilitation, and new construction of quality rental housing across the United States.
We are leaders in the Green Financing business, which we pioneered by creating financing solutions that incorporate energy and water efficiency and energy-generation concepts into traditional mortgage lending.
Multifamily Wire
January 3, 2022
I love the beginning of the year when everything and anything seems possible. Of course, as we’ve all learned over nearly two years of the pandemic, sometimes “anything” can really come out of left field and change the whole game.
In the News
Market Commentary
September 21, 2022
Manufactured housing pre-fabricated in factories remains a source of unsubsidized affordable housing, with an estimated 6.8 million units housing those who either own or rent a unit, according to data from the 2019 American Community Survey (ACS).
August 22, 2022
Starts for new multifamily rental and condominium construction have continued at historically high levels in 2022, though the levels of the first half of the year are down modestly from the record levels achieved in mid2021, according to the Dodge Data & Analytics Supply Track constructi
July 20, 2022
The multifamily sector experienced strong demand during the first half of 2022, resulting from a combination of favorable demographics, continued job growth, rising wages, and increased renter household formations.
