News Release

February 01, 2016

Fannie Mae and its Lenders Close 2015 with Top DUS Flow Volume of $42.3 Billion in Multifamily Loans

Company Is The Most Reliable Source of Financing and Securitization for Quality Rental Housing

Andrew Wilson

202-752-5168

WASHINGTON, DC – Fannie Mae (FNMA/OTC) provided $42.3 billion in financing to the multifamily market in 2015 to support 569,000 units of multifamily housing – of which over 90 percent of the units financed support affordable or workforce housing*. Approximately 99 percent of the multifamily loans Fannie Mae financed in 2015 were securitized through the company’s MBS execution. Providing liquidity to the rental market through its Delegated Underwriting and Servicing (DUS®) Lender partners has been the core mission of Fannie Mae Multifamily for nearly 30 years. The company’s unique DUS platform relies on shared risk and leverages private capital through the company’s DUS lenders, who retain more than 20% of the credit risk on Fannie Mae’s entire multifamily guaranty book of business, as of December 31, 2015.

"Fannie Mae Multifamily continues to be a leader in the market by focusing on a balanced and sustainable portfolio that meets our mission goals and serves diverse market segments," said Jeffery Hayward, Executive Vice President of Multifamily, Fannie Mae. "The strength of our lender partnerships and our DUS program, and the most comprehensive and consistent risk-aligned network of people, products, and services in multifamily finance are what make Fannie Mae the most reliable source of financing for rental housing.”  

DUS lenders delivered nearly 100 percent of Fannie Mae’s 2015 multifamily loan acquisitions. Delegation has always been a core component of Fannie Mae Multifamily’s business model and is a primary differentiator in the marketplace, providing lenders with certainty of execution, faster decisions, and quicker loan closings.

"In partnership with our 25 DUS Lenders, 2015 was a remarkable year for multifamily production," said Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae. "The market was incredibly robust in 2015, and with the help of our lender partners, we reached $42.3 billion in volume this year, providing significant liquidity and value to the market." 

The following are the 10 DUS Lenders that produced the highest volumes, as well as the 5 DUS Lenders that produced the highest volumes in Multifamily Affordable Housing and Seniors Housing in 2015, listed in descending order:

Top 10 DUS Producers in 2015:

  • Wells Fargo Multifamily Capital 
  • Walker & Dunlop, LLC 
  • Berkadia Commercial Mortgage, LLC 
  • CBRE Multifamily Capital, Inc. 
  • Berkeley Point Capital LLC 
  • PNC Real Estate 
  • Capital One Multifamily Finance, LLC
  • KeyBank National Association
  • Arbor Commercial Funding, LLC
  • M&T Realty Capital Corporation

Top 5 DUS Producers for Multifamily Affordable Housing in 2015:

  • Jones Lang LaSalle Multifamily, LLC
  • Wells Fargo Multifamily Capital
  • Walker & Dunlop, LLC
  • Pillar Financial, LLC
  • Greystone Servicing Corporation, Inc.

Top 5 DUS Producers for Seniors Housing in 2015:

  • Berkadia Commercial Mortgage, LLC
  • KeyBank National Association
  • Wells Fargo Multifamily Capital
  • CBRE Multifamily Capital, Inc.
  • Greystone Servicing Corporation, Inc.

Production highlights for individual business categories, which are part of the overall total 2015 multifamily production number, are listed below:

  • Multifamily Affordable Housing – (financing for rent-restricted properties and properties receiving other federal and state subsidies) $3.0 billion, an increase of 15% from $2.6 billion in 2014
  • Manufactured Housing Communities – $786 million, an increase of 58% from $496 million in 2014
  • Student Housing – $1.5 billion, an increase of 81% from $831 million in 2014
  • Structured Transactions – $3.5 billion, an increase of 133% from $1.5 billion in 2014
  • Seniors Housing – $2.7 billion, an increase of 80% from $1.5 billion in 2014

As the most reliable source of financing in the multifamily sector, Fannie Mae is committed to serving the spectrum of the nation’s rental housing needs.

*Affordable and workforce housing is defined as units affordable to families earning at or below 120% of the median income in their area. 

Fannie Mae enables people to buy, refinance, or rent homes.

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