July 21st, 2017
Multi-Family Housing Update: Dus Lenders Outperformed Business Records in 2016
The year 2016 has been one of the greatest for Delegated Underwriting and Servicing (DUS) program by Fannie Mae. Other than financing $55.3 billion, it also supported 724,000 units of multifamily housing last year.
According to Jeffery Hayward, Executive Vice President of Multifamily, Fannie Mae, the record volumes for Green Financing, Affordable, Student Housing, and Manufactured Housing Communities was a huge boost for their business. The company has made a significant contribution towards technology in 2016. The target was to support business activities, which has been one of their greatest achievement so far. Needless to say, they are hopeful about their advancement and growth in 2017, too.
Another significant reason behind this exceptional accomplishment is $54.9 billion worth of new issue mortgage-backed securities (MBS) which was led into the market last year. Many more investors buying Delegated Underwriting and Servicing MBS expanded the liquidity by $10 billion in Guaranteed Multifamily Structures.
Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae said that for a successful relationship-based business, reliable and trusting partners are very necessary. If financing solutions is the concern, one can always look up to Fannie Mae. Of all the Delegated Underwriting and Servicing lenders that pushed the record volumes, Wells Fargo Multifamily Capital produced the highest business with $11.7 billion.