Big news! We’ve reinstated Fannie Mae’s Streamlined Rate Lock (SRL) option, which allows Borrowers to manage interest rate risk while maximizing flexibility and speed.
We initially suspended our SRL option in March of 2020. It’s certainly been a challenging fifteen months since then, but Multifamily market fundamentals continue to show strength. While some uncertainty remains, an improving economy, growing vaccination levels, and solid Fannie Mae Multifamily book performance have helped us get comfortable once again with the SRL.
This change is one of several you’ll see coming from us over the next week. I think of it as a sign – not only of the growing strength of the economy, but also of the steadfast strength of our partnership. We are pleased to be able to return delegation to the hands of our DUS® Lenders and will continue to meet the needs of the market while ensuring safety and soundness.
As always, when it comes to SRLs, please consider whether the SRL execution is appropriate given individual deal specifics. Seniors and Student business remains Pre-Review, and SRL requests for those transactions will be evaluated on a case-by-case basis.
Thank you for being with us every step of the way – we are moving forward!