New Year, New Changes to Small Loans

Multifamily Wire

Multifamily Facts

Ann and PaulThe start of a new year means new resolutions, new opportunities, and new ways we can enhance the way we work together. 2019 is about providing you with the dedication you want and the expertise and support you need to serve your customers – which is why we're making big changes to our Small Loans program.

What's changing?

  • We're increasing our maximum loan amount to $6 million nationwide. This means more capital for borrowers and the same certainty of execution, streamlined process and low origination costs in every market.
  • We've added four new markets to our list of Eligible MSA's – Denver, Miami, Minneapolis, and Salt Lake City. We recognize that these are strong, competitive markets so we're making it easier for you to bring us your deals in these markets.

Refer to Lender Memo 19-02 for more details.

Our streamlined loan process for small loans will now be available for a larger population of transactions. We're giving you expanded program parameters but the same experience, flexibility and certainty of execution to meet the needs of your customers.

Together we have provided more than $24 billion of liquidity to the Small Loans market and financed nearly 500,000 small loan units since 2009. We are committed to the Small Loans business and we look forward to a successful 2019.

Please reach out to your Deal Team or email MF_CE_Small_Loans@fanniemae.com with any questions about these changes. As always, we are more than happy to join you on calls with your team members and borrowers.

Best,

Ann and Paul