2024 DUS Lender Awards

We are delighted to announce that this year’s Excellence in Multifamily Affordable Housing (MAH) Underwriting award goes to Lument. This recognition is marked by an exceptional attention to detail, a strong understanding of affordable credit products and programs, a deep knowledge of Multifamily’s affordable housing credit underwriting standards, and a thoughtful approach to underwriting presentations. This year’s award winner exemplifies the highest of these standards while seamlessly navigating the complexities of underwriting for complex transactions. With the highest level of professionalism, this lender goes the extra mile to ensure a balanced credit approach on every transaction they present to Fannie Mae.

We are delighted to recognize PNC as this year’s winner of the Excellence in Underwriting Award. This accolade is reserved for lenders who demonstrate exceptional credit underwriting practices, deliver high-quality results, and maintain a strong credit culture that aligns with Fannie Mae’s standards. PNC not only meets but exceeds these expectations, effectively leveraging delegation and maintaining a balanced credit approach. We deeply value PNC’s partnership and their active engagement with our Credit teams.

We are pleased to recognize Arbor as this year’s winner of the Excellence in Operations Award. Arbor excels in several key operational areas, including clean rates, timeliness, and data quality. Their investor reporting and payoff processes are among the best in the industry. Arbor’s commitment to continuous process improvement is evident in their consistent advancements in delivery, certifications, and submissions. They actively collaborate with us to review and provide valuable feedback on upcoming changes. We deeply appreciate Arbor’s attention to detail and their dedication to excellence.

This year’s Asset Management Award goes to Grandbridge, a company that excels in risk management and is a true partner to Fannie Mae. Their risk management activities are highly transparent, thanks to their excellent communication and responsiveness. Their seasoned staff is adept at identifying risks in the portfolio, mitigating them, and keeping Fannie Mae well informed. Their submissions for borrower requests, assumptions and transfers, structured facilities, seniors housing, and maturity management are thorough, explaining issues and offering mitigating solutions whenever possible. This proactive and meticulous approach makes them an outstanding lender partner and well deserving of this recognition.

This year’s Excellence in Loss Mitigation Award goes to CBRE. This celebrated partner takes a proactive approach to loss mitigation, identifying loan-level weaknesses and engaging with borrowers early to develop stabilization or exit strategies. They collaborate with Fannie Mae’s Loss Mitigation team by communicating issues from the moment they are identified and then actively working to resolve them. CBRE’s effective approach includes engaging with borrowers, conducting increased property inspections, and updating titles. They also consider market factors and collaborate with market partners, such as brokers, to better understand the risk profile and the viability of the borrower’s plan.

We are thankful for CBRE’s unwavering commitment to enhancing our business processes through technology and innovation. In 2024, CBRE set itself apart by offering valuable insights to facilitate the standardization and digitization of third-party data. They also partnered on transformational initiatives, such as modernizing our underwriting, and commitment and delivery processes and systems. Their feedback on the Technology and Innovation Subcommittee (TISC) was thoughtful and impactful. Finally, CBRE conducted thorough testing of new releases for many of our applications, showcasing their dedication to innovation and willingness to provide early feedback to improve our technology offerings. This recognition emphasizes CBRE’s commitment to supporting and contributing to the use of technology to optimize the Delegated Underwriting and Servicing (DUS®) model.

Fannie Mae is pleased to recognize Greystone with this year’s award for Excellence in Duty to Serve. In 2023, Greystone proactively reached out to Fannie Mae to learn how to identify and pursue loans eligible for Duty to Serve targets. Through their focus on small and rural housing, Greystone delivered a 19-loan portfolio of Section 515 properties in 2024, preserving affordability at almost 650 units and allowing Fannie Mae to meet and exceed a historically challenging goal for the first time ever. Greystone goes above and beyond to bring in deals that meet the objectives of the Duty to Serve plan, and Fannie Mae thanks them for their partnership.

The inaugural Excellence in Workforce Housing Award goes to KeyBank, celebrating their significant contributions across Fannie Mae’s workforce housing products and building on their previous milestone as the first lender to achieve $500M in Sponsor-Dedicated Workforce (SDW) originations. We are grateful for this partnership and KeyBank’s commitment to financing solutions that create value for borrowers, renters, and communities.

We are delighted to present the 2024 Excellence in Overall Mission Award to CBRE. This is a lender who exemplifies the word “partner.” They maintain constant communication with Fannie Mae and have a deep understanding of our goals and mission to address America’s affordability crisis. CBRE offers a wide range of products and services, delivering not only a high percentage of conventional deals that meet housing goals but also being active in the MAH space. They lend on quality properties with green certifications and, like Fannie Mae, are present in every market, every day. We are deeply grateful for their commitment to partnering with us to facilitate access to homeownership and quality, affordable rental housing across America.