We’ve just wrapped another successful Annual DUS Meeting, and I couldn’t be more thrilled with the level of engagement, enthusiasm, and energy that you and your staff brought to the event. We heard from a breadth of expert speakers and panelists who provided real-time market intelligence to help us sharpen our competitive edge.
As the meeting’s F.A.S.T. FORWARD theme emphasized, we are committed to delivering top-notch customer service and we remain:
- Focused on the task at hand;
- Aggressive about pursuing the business we want;
- Smart in executing; and,
- We will leverage Teamwork to move us forward in today’s extremely competitive market.
At the meeting, we announced several changes we’re making as a result of key initiatives and the terrific work of the Market Dynamics Subcommittee. This Subcommittee, comprised of Lender CEOs and Fannie Mae staff, was created to develop recommendations on how we can continually improve our processes to better serve our customers and meet evolving market demands. All of these enhancements, listed below, are aimed squarely at helping us serve you better in this challenging market. We are:
- Speeding up Lender delegations and processes by reducing the pre-review mortgage package;
- Developing a streamlined process for Soft Quoting to speed our response time when deals come in;
- Returning pricing delegations back to our Deal Teams, which will also improve response times;
- Focusing on priority borrowers, to better understand their financing needs and to help our Lenders compete for this business; and
- Targeting high quality assets in our portfolio for refinance opportunities with priority borrowers.
The Subcommittee continues to meet regularly, and I’ll keep you updated as we roll out more enhancements over the coming months.
Last but certainly not least, we are thinking ahead and actively rebuilding the DUS platform through our Target State initiative. This vital work will allow us to improve response times, reduce complexity, and enhance the liquidity of our security. It’s a significant investment in our future, and one example of our commitment to long-term success in this market.
Congratulations again to the following Lenders, recognized for specialty performance in 2013 during a rousing awards show:
- Outstanding Structured Partner – Beech Street Capital, LLC
- Top Small Loan Producer – Greystone Servicing Corporation, Inc.
- Excellence in Operations – Wells Fargo Multifamily Capital
- Excellence in Credit Underwriting – Berkadia Commercial Mortgage, LLC
- Excellence in Asset Management – Prudential Mortgage Capital Company
- Excellence in Loss Mitigation – KeyBank National Association
- Top Manufactured Housing Communities Producer – Beech Street Capital, LLC
- Top Student Housing Producer – Walker & Dunlop, LLC
- Top Affordable Housing Producer – Wells Fargo Multifamily Capital
- Top Seniors Housing Producer – KeyBank National Association
It’s going to be a great year for the Multifamily business – we’re moving F.A.S.T. and moving forward, putting new tools and processes in place that make it even easier to do business with us in every market, every day. We’re taking smart risks and pursuing the right deals, and I can’t wait to see what the last half of the year brings.