Fannie Mae Multifamily Closes 2020 With Record Volume of $76 Billion

WASHINGTON, Jan. 14, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) provided $76 billion in financing to support the multifamily market in 2020, the highest volume in the history of its 32-year-old Delegated Underwriting and Servicing (DUS^®) program. During a year of pandemic-related disruptions to the nation's economy and financial markets, Fannie Mae supported the needs of multifamily borrowers while increasing its commitment to affordable housing.

"Fannie Mae continued to play an important role as a source of financing for multifamily rental housing at a time when borrowers and their tenants faced unprecedented challenges," said Michele Evans, Executive Vice President of Multifamily, Fannie Mae. "Working with our DUS lenders, we served as a reliable source of financing for multifamily borrowers in an extraordinary year that called for the development of resources for renters and forbearance for borrowers."

"We want to thank our DUS lenders for their partnership and help in ensuring liquidity for all multifamily market segments, at all times," said Rob Levin, Senior Vice President of Multifamily Customer Engagement, Fannie Mae. "We are very proud that we exceeded our 2020 mission goal and we look forward to working with our lenders in 2021."

Multifamily Affordable Housing volume rose more than 9 percent to $7.8 billion last year from $7.2 billion in 2019.  Structured Transactions volume totaled $11.6 billion, up nearly 34 percent from $8.6 billion in 2019, helping support multifamily affordable housing, particularly workforce housing. Our Manufactured Housing Communities financing program also helped support affordable housing, reaching a record $5.5 billion, a 120 percent increase from $2.5 billion in 2019.

The following top 10 DUS Lenders produced the highest business volumes in 2020. Also listed below are the Top 5 Lender rankings for highest volumes in 2020 for Structured Transactions, Multifamily Affordable Housing, Small Loans, Manufactured Housing Communities, Green Financing, Student Housing, and Seniors Housing:

Top 5 DUS Producers for Structured Transactions in 2020

1. Walker & Dunlop, LLC
2. Newmark
3. PGIM Real Estate
4. KeyBank National Association
5. Wells Fargo Multifamily Capital

Top 5 DUS Producers for Multifamily Affordable Housing in 2020

1. Wells Fargo Multifamily Capital
2. JLL Real Estate Capital, LLC
3. Walker & Dunlop, LLC
4. PGIM Real Estate
5. KeyBank National Association

Top 5 DUS Producers for Small Loans in 2020¹

1. Arbor Commercial Funding I, LLC
2. Greystone Servicing Company LLC
3. Berkadia Commercial Mortgage, LLC
4. Walker & Dunlop, LLC
5. Lument Capital

Top 5 DUS Producers for Manufactured Housing Communities in 2020 

1. Berkadia Commercial Mortgage, LLC
2. Walker & Dunlop, LLC
3. Wells Fargo Multifamily Capital
4. Bellwether Enterprise Real Estate Capital, LLC
5. PNC Real Estate

Top 5 DUS Producers for Green Financing in 2020²

1. CBRE Multifamily Capital, Inc.
2. Walker & Dunlop, LLC
3. Greystone Servicing Company LLC
4. Berkadia Commercial Mortgage, LLC
5. PGIM Real Estate

Top 5 DUS Producers for Student Housing in 2020

1. Walker & Dunlop, LLC
2. CBRE Multifamily Capital, Inc.
3. Berkadia Commercial Mortgage, LLC
4. KeyBank National Association
5. NorthMarq

Top 5 DUS Producers for Seniors Housing in 2020

1. Newmark
2. KeyBank National Association
3. Greystone Servicing Company LLC
4. Lument Capital
5. PNC Real Estate

Listed below are 2020 production highlights for individual business categories, which are included in the total multifamily production number:

• Structured Transactions – $11.6 billion, an increase of nearly 34 percent from $8.6 billion in 2019
• Affordable Housing – $9.3 billion, comprised of $7.8 billion in Multifamily Affordable Housing (for rent-restricted properties and properties receiving other federal and state subsidies), an increase of more than 9 percent from $7.2 billion in 2019; and $1.5 billion for properties with rent restrictions between 60 percent and 80 percent area median income
• Small Loans¹ – $7.6 billion, an increase of more than 58 percent from $4.8 billion in 2019
• Manufactured Housing Communities – $5.5 billion, an increase of nearly 120 percent from $2.5 billion in 2019
• Green Financing² – $13 billion
• Student Housing – $1.6 billion
• Seniors Housing – $0.9 billion

¹Small Loans are defined as loans of $6 million or less nationwide and loans for properties with 5-50 units.
²Green Loans are defined as loans for properties with Green Building Certifications or loans targeting a 30 percent reduction or more in energy and water consumption, inclusive of at least 15 percent energy reduction consumption. 
**Due to rounding, amounts reported may not add up to overall totals.

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