Fannie Mae's Multifamily Financing Achievements in 2024
Fannie Mae (OTCQB: FNMA) has marked an impressive year in the multifamily housing market, providing more than $55 billion to support various sectors. This achievement highlights the company's commitment to fostering affordable rental housing across the United States.
Stable Financing for Essential Housing Segments
This past year, Fannie Mae demonstrated its resilience by maintaining substantial liquidity in key market areas. This included over $6.3 billion for Multifamily Affordable Housing and $4.7 billion in Small Loans. The company's financing initiatives also encompassed $1.3 billion in Manufactured Housing and $6.6 billion in Structured Transactions.
Growth in Green Financing Initiatives
Significantly, Fannie Mae noted a staggering 101% increase in Green Financing loan production, soaring from $7.5 billion in the previous year to $15.1 billion in 2024. This growth underscores the organization’s commitment to promoting energy-efficient housing solutions.
Commitments to Affordable Housing Development
Fannie Mae has also made forward commitments amounting to $1.2 billion, up from $326 million in the previous year. These commitments facilitate the development and renovation of affordable housing units by providing essential stability for lenders and builders.
Investments in Low-Income Housing Tax Credit
Since re-entering the Low-Income Housing Tax Credit (LIHTC) market in 2018, Fannie Mae has allocated approximately $4 billion in net equity toward LIHTC investments. This funding has played a crucial role in preserving and creating tens of thousands of units of affordable rental housing throughout the nation.
Advancing Initiatives for Multifamily Borrowers
In 2024, Fannie Mae expanded its Sponsor-Dedicated Workforce (SDW) and Sponsor-Initiated Affordability (SIA) initiatives. These are designed to enhance financing opportunities for multifamily borrowers, thereby strengthening the market for workforce and affordable housing.
Collaborative Efforts with DUS Lenders
Rob Levin, Senior Vice President and Multifamily Chief Customer Officer at Fannie Mae, stated, "With the continued support, commitment, and adaptability of our DUS lenders, Fannie Mae remained a leading and stable source of multifamily mortgage financing nationwide during another challenging year for the market." This collaborative spirit has propelled the company into 2025 with renewed vigor and opportunities.
Notable Performance by DUS Lenders
The following list showcases the top 10 Delegated Underwriting and Servicing (DUS) lenders by business volume for the year:
- 1. Walker & Dunlop, LLC - $7.04 billion
- 2. Berkadia Commercial Mortgage, LLC - $6.25 billion
- 3. CBRE Multifamily Capital, Inc. - $6.17 billion
- 4. Newmark - $4.52 billion
- 5. JLL Real Estate Capital, LLC - $3.04 billion
- 6. Greystone Servicing Company, LLC - $2.98 billion
- 7. Wells Fargo Multifamily Capital - $2.88 billion
- 8. Arbor Commercial Funding I, LLC - $2.68 billion
- 9. KeyBank National Association - $2.44 billion
- 10. PNC Real Estate - $2.20 billion
Highlights from 2024 Production
Various business categories contributed significantly to the overall multifamily production number, including:
- Multifamily Affordable Housing – $6.36 billion
- Structured Transactions – $6.62 billion
- Green Financing – $15.19 billion
- Small Loans – $4.75 billion
- Manufactured Housing Communities – $1.30 billion
- Seniors Housing – $1.55 billion
- Student Housing – $0.36 billion
Frequently Asked Questions
What is Fannie Mae's core mission?
Fannie Mae aims to provide equitable and sustainable access to homeownership and affordable rental housing across America.
How much financing did Fannie Mae provide in 2024?
Fannie Mae provided more than $55 billion in financing to support the multifamily housing market.
What are the top housing segments supported by Fannie Mae?
Key segments include Multifamily Affordable Housing, Small Loans, and Green Financing initiatives.
How has Fannie Mae contributed to green housing?
Fannie Mae reported a 101% increase in Green Financing loan production, reflecting a commitment to energy-efficient housing solutions.
Who are the top DUS lenders for multifamily financing?
Walker & Dunlop, LLC and Berkadia Commercial Mortgage, LLC ranked among the top DUS lenders in 2024.