Fannie Mae and 24 lenders that are part of an underwriting and servicing risk-sharing program provided $28.9 billion in financing for 446,000 units of multifamily housing in 2014. Fannie backstopped nearly all of those loans through its mortgage-backed securitization execution.
“It’s not just the volume that’s impressive, it’s the quality of the business,” said Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae. “We’re taking smart risks and winning the right deals” in what she described as an “incredibly competitive” market.
Fannie Mae’s Delegated Underwriting and Servicing (DUS) program has played a significant role in the multifamily housing market for 27 years. For 2014, Fannie singled out Bethesda, Md.-based commercial real estate finance company Walker & Dunlop, with 22 officers nationwide, as the lender in that program that produced the highest volumes of multifamily housing. Walker & Dunlop was followed by Wells Fargo Multifamily Capital, Berkadia Commercial Mortgage, CBRE Multifamily Capital, and PNC Real Estate.
Capital One Multifamily Finance was the DUS program’s leading producer for affordable multifamily housing. And KeyBank National Association’s lending produced the most seniors multifamily housing.
All told, the two government-sponsored enterprises, Fannie Mae and Freddie Mac, and its lenders provided $57.2 billion to finance the construction of more than 850,000 multifamily housing units.
Freddie’s $28.3 billion in multifamily volume was the second most in its history. CRBE Capital Markets was Freddie’s leading “Program Plus” seller for multifamily financing; Citibank produced the most affordable multifamily housing through this program; Walker & Dunlop the most very low-income units; and CRBE the most seniors housing.
Related Stories
K-12 Schools | Nov 1, 2022
Safety is the abiding design priority for K-12 schools
With some exceptions, architecture, engineering, and construction firms say renovations and adaptive reuse make up the bulk of their work in the K-12 schools sector.
| Nov 1, 2022
Updated Florida building codes helped newer homes withstand Hurricane Ian
Newer homes seemed to fare much better than older structures during Hurricane Ian, suggesting that updated Florida building codes made a difference.
Wood | Nov 1, 2022
A European manufacturer says its engineered wood products can store carbon for decades
Metsä Wood, a Finland-based manufacturer of engineered wood products, says its sustainable, material-efficient products can store carbon for decades, helping to combat climate change.
Data Centers | Oct 31, 2022
Data center construction facing record-breaking inflation, delays
Data center construction projects face record-breaking inflation amid delays to materials deliveries and competition for skilled labor, according to research from global professional services company Turner & Townsend.
School Construction | Oct 31, 2022
Claremont McKenna College science center will foster integrated disciplinary research
The design of the Robert Day Sciences Center at Claremont McKenna College will support “a powerful, multi-disciplinary, computational approach to the grand socio-scientific challenges and opportunities of our time—gene, brain, and climate,” says Hiram E. Chodosh, college president.
Energy Efficient Roofing | Oct 28, 2022
Rooftop mini turbines can pair with solar panels
A new type of wind turbine can pair well on roofs with solar panels, offering a double source of green energy generation for buildings.
Building Team | Oct 27, 2022
Who are you? Four archetypes shaping workspaces
The new lifestyle of work requires new thinking about the locations where people work, what their workflow looks like, and how they are performing their best work.
Codes and Standards | Oct 27, 2022
Florida’s Surfside-inspired safety law puts pressure on condo associations
A Florida law intended to prevent tragedies like the Surfside condominium collapse will place a huge financial burden on condo associations and strain architecture and engineering resources in the state.
University Buildings | Oct 27, 2022
The Collaboratory Building will expand the University of Florida’s School of Design, Construction, and Planning
Design firm Brooks + Scarpa recently broke ground on a new addition to the University of Florida’s School of Design, Construction, and Planning (DCP).
Building Team | Oct 26, 2022
The U.S. hotel construction pipeline shows positive growth year-over-year at Q3 2022 close
According to the third quarter Construction Pipeline Trend Report for the United States from Lodging Econometrics (LE), the U.S. construction pipeline stands at 5,317 projects/629,489 rooms, up 10% by projects and 6% rooms Year-Over-Year (YOY).
