Fannie Mae and our DUS® lenders play a critical role in the multifamily market.


For nearly 30 years, Fannie Mae Multifamily has served the secondary mortgage market as a reliable source of mortgage capital in every market, every day. We provide liquidity, stability, and affordability to the multifamily market in a disciplined fashion while maintaining our credit standards and minimizing losses.

Since 1988, Fannie Mae and its lender network have provided more than $450 billion in liquidity to the mortgage market to finance more than 8.4 million units of multifamily housing. The majority of our business is workforce housing. Approximately 90% of the units we finance are affordable to families earning at or below 120% of the area's median income level.

We serve a wide spectrum of the multifamily market, including conventional, rent-restricted, cooperatives, seniors, student housing, and manufactured housing communities. We also finance all loan sizes, from a $1 million single-asset loan to a $1 billion structured transaction facility.

Our multifamily business is executed primarily through the Delegated Underwriting & Servicing (DUS®) Lender network. DUS lenders are pre-approved and given the authority to underwrite and service loans that meet our standards. The DUS model relies on shared risk with our DUS Lenders.

The majority of our DUS acquisitions are supported with private capital – 98% of every dollar in liquidity that Fannie Mae delivers to the multifamily market is supported by private capital through loss sharing arrangements with our DUS Lenders and/or the purchase of MBS by private investors.

Supporting the Multifamily Market