Delegated Underwriting and Servicing (DUS®)

Fannie Mae Multifamily relies on its Delegated Underwriting and Servicing (DUS®) program to finance rental housing. DUS is a unique model that relies on three core principles; leveraging private capital, aligning interests through risk-sharing, and providing superior asset management.

The strength of the DUS model is shared risk. Our flagship DUS platform is successful because it relies on 'skin in the game' - lenders retain some of the underlying credit risk of the loans they sell to Fannie Mae, so both parties have a stake in each loan's performance.

DUS lenders adhere to rigorous credit and underwriting standards and submit to Fannie Mae's ongoing credit review and monitoring. They underwrite, close, deliver, and service loans on Fannie Mae multifamily properties and typically retain one-third of the risk on every loan.

Fannie Mae executes its multifamily business through the DUS network of 25 financial institutions and independent mortgage lenders.

Lender CEOs describe benefits of DUS

Our Lenders

  • DUS Lenders

    A list of Delegated Underwriting and Servicing (DUS) Lenders who are authorized by Fannie Mae to underwrite, close and deliver most loans without our pre-review.