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Investing

Multifamily Credit Risk Transfer

Fannie Mae partners with private sources of capital to transfer mortgage credit risk, develop broad and liquid markets, and reduce taxpayer risk.

The Multifamily team uses an industry-leading framework to manage credit risk over the full loan lifecycle, from underwriting to maturity/disposition:

".05% of our multifamily book of business was seriously delinquent as of Q2 2019."

Underwriting Management

We set prudent underwriting standards and regularly reevaluate them to address credit tolerance relative to current market conditions.

Performance Management

We review credit decisions to confirm that credit risk is appropriately managed during loan underwriting, then monitor performance throughout the loan term.

Mitigation Strategies

Our loss mitigation teams aim to identify risks early and develop strategies to minimize potential losses.


See Multifamily's industry-leading framework

Click here to view an overview of how Multifamily manages credit risk.

Multifamily's Industry Leading Framework

  Multifamily's credit risk transfer vehicles

DUS®

Delegated Underwriting and Servicing

Learn more about DUS, our flagship program, that requires lenders to retain some of the credit risk of the loans they sell to us – ensuring a stake in each loan's performance.

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MCIRT™

Multifamily Credit Insurance Risk Transfer

Learn more about our MCIRT program, designed to complement our DUS program and transfer risk to reinsurers.

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