Fannie Mae Multifamily Receives Special Servicer Rating from Fitch
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that its Multifamily business has received an initial commercial mortgage special servicer rating of ‘CSS2' from Fitch. This rating reflects the strong performance of the company’s multifamily special servicing team and the effectiveness of its Delegated Underwriting and Servicing (DUS®) model, a hallmark of Fannie Mae’s multifamily business for over 25 years built on shared risk with lenders. A press release from Fitch announcing the rating is available here.
“I am very pleased that Fitch acknowledged the capabilities, deep expertise and dedication of our Multifamily team,” said Jeffery Hayward, Executive Vice President for Multifamily, Fannie Mae. “Every day we commit ourselves to the sole goal of providing consistent support to the multifamily market helping to create quality, sustainable workforce rental housing. Together with our 25 DUS Lenders, we effectively manage our portfolio of high-quality loans from the day they are originated through the life of the loan. In the rare occasion when a loan defaults, our special servicing team works closely with our DUS Lender to effectively resolve the issue. As we head into the New Year, we renew our commitment to maintain the strongest level of servicing and asset management to ensure we continue to provide ready liquidity for rental housing in every market, every day.”
As the largest source of financing in the multifamily sector, Fannie Mae remains a reliable partner across the spectrum of the nation’s rental housing needs. Since 1988, Fannie Mae and its DUS Lender network have provided more than $360 billion in liquidity to the mortgage market to finance more than 7.1 million units of multifamily housing. As of September 30, 2015, Fannie Mae’s Multifamily guaranty book of business is $210.5 billion. More information on Fannie Mae’s Multifamily Mortgage Business is available at https://www.fanniemae.com/multifamily/index.
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