Fannie Mae closes 2019 with record multifamily volume

by Kasi Johnston23 Jan 2020

Fannie Mae set a new record last year.

The GSE provided over $70 billion in financing to support the multifamily market. It’s the highest volume in the history of its Delegated Underwriting Servicing (DUS) program, and about $5 billion over 2018 volume.

"Our DUS program is well positioned to support the secondary market and play a key role as a stable source of liquidity for rental housing and underserved communities," said Jeffery Hayward, executive vice president of multifamily, in a statement. "Our goal is to build a profitable and sustainable book of business while continuing to provide support for the market."

There was also an increase of Fannie’s green mortgage-backed securities, which provides loans for properties targeting a 30 % reduction in energy or water. In 2019, issuances increased 13% to $22.8 billion, bringing the total to $75 billion since the program started in 2010.

"Our Multifamily Affordable Housing volume rose over 20 percent to $7.2 billion, demonstrating our firm commitment to the preservation of affordable housing for families across the country," said Rob Levin, senior vice president for multifamily customer engagement at Fannie Mae.

Walker & Dunlop was the overall highest producer for 2019, funding $8.5 billion in volume, followed by CBRE Multifamily Capital with $7.2 billion and Wells Fargo Multifamily Capital with $6.6 billion.

Another highlight, according to the release was $7.8 billion in funding for affordable housing. Multifamily affordable housing went up 21% from $6 billion in 2018 to $7.2 billion in 2019. The other $629 million funded properties with rent restrictions between 60 and 80 percent of the area median income.