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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board  >  Federal National Mortgage Assctn Fnni Me    FNMA   

FEDERAL NATIONAL MORTGAGE ASSCTN FNNI ME (FNMA)
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Federal National Mortgage Assctn Fnni Me : News Release - Fannie Mae Finances $1.6 Billion to Support ...

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02/26/2016 | 10:46pm CEST

February 26, 2016

Fannie Mae Finances $1.6 Billion to Support the Multifamily Small Loan Market in 2015

Andrew Wilson

202-752-5168

WASHINGTON, DC - Fannie Mae (FNMA/OTC) provided $1.6 billion in financing to the multifamily market to support small loans comprising over 33,000 units in 2015. Over ninety percent of the small loan units the company financed in 2015 supported affordable and workforce housing.*

'Small loans are a critical part of the work we do to make affordable, quality rental housing a reality for renters in urban areas and smaller markets across the nation,' said Bob Simpson, Multifamily Vice President for Affordable, Green, and Small Loans, Fannie Mae. 'We have been financing small loans for nearly 20 years and since 2009 we have provided over $17 billion in liquidity to the small loan market primarily through our Delegated Underwriting and Servicing (DUS) lenders.'

Owners of smaller properties have unique financing needs and Fannie Mae offers a variety of product offerings, streamlined underwriting and processing, and increased delegations to its Small Loan lenders. Fannie lenders are delegated the ability to underwrite, close, deliver, and service small loans, which provides greater speed and certainty of execution.

Below are the 5 DUS lenders that produced the highest volume in Small Loans in 2015, listed in descending order:

  1. Greystone Servicing Corporation, Inc.
  2. Arbor Commercial Funding, LLC
  3. Walker & Dunlop, LLC
  4. Hunt Mortgage Group
  5. PNC Real Estate

Providing liquidity to the rental market has been the core mission of Fannie Mae Multifamily for nearly 30 years. The company's unique DUS platform relies on shared risk and leverages private capital through its DUS lenders, who retain more than 20% of the credit risk on Fannie Mae's entire multifamily guaranty book of business, as of December 31, 2015.

As the most reliable source of financing in the multifamily sector, Fannie Mae is committed to serving the spectrum of the nation's rental housing needs.

*Small loans are defined as loans of $3 million or less nationwide and $5 million or less in high-cost markets, as well as properties with 5 to 50 units. Affordable and workforce housing is defined as units affordable to families earning at or below 120% of the median income in their area.

Fannie Mae enables people to buy, refinance, or rent homes.

Visit us at: http://www.fanniemae.com/progress

Follow us on Twitter: http://twitter.com/FannieMae

Fannie Mae - Federal National Mortgage Association issued this content on 26 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 February 2016 21:45:31 UTC

Original Document: http://www.fanniemae.com/portal/about-us/media/corporate-news/2016/6357.html

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Income Statement Evolution
Consensus
 
Mean consensus UNDERPERFORM
Number of Analysts 1
Average target price 1,00 $
Spread / Average Target -36%
Managers
NameTitle
Timothy J. Mayopoulos Chief Executive Officer & Director
David C. Benson President
Egbert L. J. Perry Non-Executive Chairman
Bruce Lee Senior VP, Head-Operations & Technology
Celeste Marie Brown Chief Financial Officer & Executive Vice President