The reviews are in, and this year's DUS Meeting was a blockbuster success. With 350 attendees, nearly 30 speakers across a dozen sessions, and a healthy dose of film festival-themed humor, this was the most dynamic DUS Meeting we've ever hosted. If there's one thing attendees took away from this event, it's this message: The Delegated Underwriting and Servicing (DUS®) model is thriving, and Fannie Mae Multifamily is looking for ways to innovate and serve our lenders and originators even better.

To spread that message, we had a packed agenda full of experts and thought leaders to get us all pumped up for the remainder of the year.

  • We kicked off the day by sharing our research on the DUS brand and what we've discovered about our brand essence, thanks to your feedback.
  • Many of you have asked for more information about our two featured speakers.
    • Ken Schmidt, Harley-Davidson's former director of communications strategy, challenged us all to ask ourselves, what are our customers saying about us, and how can we influence the conversation? 
    • Dr. Jeremy Hunter asked us to focus on the present by learning how to cultivate and manage our attention to optimize performance with a mindfulness exercise and some tips on how to stay in the moment.
  • We also heard from Fannie Mae's Chairman – and multifamily borrower – Egbert Perry, who talked about GSE reform, the multifamily market, and his experience developing mixed-income, mixed-use communities, affordable/workforce housing, and commercial real estate projects across the country.

We made some big announcements at this meeting, all pertaining to the work we're doing to serve our customers and the American people by making low-cost capital available in every market, every day. (To review the presentation from the meeting that covers these changes, click here.)

  • Enhanced products:Small loans and affordable are very important to us, and we're making enhancements to make them work even better for you.
    • Our new ARM 7-4 execution offers properties with 5 to 50 units and Multifamily Affordable Properties of any size a 7-year variable-rate financing option with an embedded cap, and an option to convert to a fixed-rate loan.
    • We now offer competitively priced fixed-rate loan executions with declining prepayment structures designed specifically for borrowers with properties between 5 and 50 units.  These loans will enhance the ease of calculating prepayment premiums at any point in the loan, giving owners of smaller properties simplicity in loan terms, predictability in prepayment and competitive pricing. 
  • New credit changes to increase delegation: We are making some sweeping changes to our underwriting floors nationwide, increasing IO for small loans, modifying LTV requirements for cashout in strong markets, and delegating 30-year amortization for all-age Manufactured Housing Communities. Look for a new Form 4660 with more details mid-June.
  • Goodbye Deal Management, hello DUS Gateway: Our new transaction management system debuts June 22. Powered by Salesforce, DUS Gateway™ will transform the way we manage our loan pipelines by providing one common platform where Lenders and their Fannie Mae partners can collaborate, sharing data and documents for faster results.

Finally, we shared with you FHFA's guidance on the 2015 production cap and discussed our plans to create a process to implement the guidance. We will keep the lines of communication open as we learn more over the coming weeks.

This year is off to a great start, and more good things are on the horizon as we implement our production strategies, work to maximize our affordable and small loans business, and go after high-quality deals across the spectrum of the multifamily market.

If you have any questions about the DUS Meeting or Fannie Mae's multifamily business, please don't hesitate to reach out to me.

To be continued…