At Fannie Mae Multifamily, we are the trusted leaders in providing reliable mortgage capital for the secondary mortgage market. Our Delegated Underwriting and Servicing (DUS®) platform is the cornerstone of our multifamily financing, driven by a business-first mindset and a relentless focus on innovation.
"By working together with our innovative financing partner, Fannie Mae, we were able to shape the transaction structure to fit the unique needs of this deal to refinance a construction loan into stable, permanent financing.
The DUS model allowed us to provide an innovative approach for our client, offering flexible loan terms and competitive pricing by enabling us to combine SDW with near-stab, for the first time, to close this transaction.
The approach demonstrates Fannie Mae and Grandbridge’s commitment to support affordable workforce housing in order to inspire and build better lives and communities."
Tyler Paul
Head of Multifamily
Grandbridge Real Estate Capital LLC
Our technology-driven solutions are designed to enhance risk management and streamline processes, making it faster, easier, and more secure for our partners. We are committed to continuous improvement, regularly introducing new products and finding new, inventive ways to drive efficiency through technology. This ensures that we can consistently bring liquidity to the market and deliver meaningful, efficient results for all stakeholders.
By empowering lenders to address the unique needs of a broad range of borrowers, we ensure that essential workforce rental housing remains accessible in every market, every day. Our commitment to efficiency and evolution is what sets us apart, leading the multifamily mortgage business into a future that supports more households and communities across the U.S.
"Hometown America has a longstanding relationship with Walker & Dunlop as our DUS lender. We can turn around materials and do things very quickly, which is a huge competitive advantage in the market."
Doug Minahan
CIO
Hometown America
DUS is a data-driven platform executed through a robust network of financial institutions and independent mortgage lenders. The DUS model is built on the principle of shared risk, where lenders retain some of the underlying credit risk of the loans they sell to us, so all parties have a stake in the long-term performance of the loan. DUS lenders adhere to rigorous credit and underwriting standards and submit to ongoing credit review and monitoring. That’s the delegated model. Our lenders have the ability to structure the loan to meet the unique needs of their borrowers and sponsors. They underwrite, close, deliver, and service loans on Fannie Mae multifamily properties and typically retain one-third of the risk on every loan.
This unique approach ensures that both parties have a vested interest in the performance of each loan, making our risk management superior. And life-of-loan servicing means that borrowers and sponsors always have someone to call.
Our DUS model is powered by private capital, with 98% of every dollar in liquidity supported through loss-sharing arrangements with our DUS lenders and the purchase of mortgage-backed securities (MBS) by private investors. Since 1988, Fannie Mae and our lender network have provided over $1.03 trillion in liquidity, financing over 15.3 million units of multifamily housing. In 2024, nearly 95% of these units were affordable to families earning at or below 120% of the area median income (AMI), supporting both affordable and workforce housing. Our DUS model is a collaborative model that offers reliable flexibility and support as each loan is brought to the investor market individually — not packaged. This means that whether you’re a lender or a borrower, you can always get in touch with Fannie Mae for the life of the loan. Our commitment to innovation and efficiency ensures that we can weather any storm, making us a model and a business partner for all seasons and all markets.