The Loan
We All Own

We serve the secondary mortgage market as a reliable source of multifamily mortgage capital in every market, every day. We provide liquidity, stability, and affordability to the multifamily market in a disciplined fashion while maintaining our credit standards and mitigating losses.

We offer stability by financing multifamily loans of all sizes.

With over 500 multifamily housing finance professionals across the country, the multifamily team is organized to best achieve our mission. Our leadership team sets the tone, and our Deal Teams and specialty financing teams provide the transactional expertise and relationship management that elevate the Fannie Mae Multifamily experience above the competition. Our regional Credit and Customer Engagement teams provide both local market expertise and engagement that help lenders achieve their business and portfolio objectives. Our Capital Markets group buys and sells DUS MBS, helping ensure that there is demand for our securities and attracts new investors. In-house legal, finance, marketing and communications, and economics teams are all focused on the Multifamily business and how they can best support the business in meeting their objectives to get the right deals done quickly and seamlessly and fulfill our mission.

For more information about the Multifamily team, visit https://www.fanniemae.com/multifamily/leadership

No two DUS deals are alike. Borrowers get customized financing through tailor-made terms of varying lengths, prepayments, and add-ons. We offer a variety of options to our lenders, including the option to combine our products for maximum flexibility.

For more information about our financing options, including term sheets, visit https://www.fanniemae.com/multifamily/products

2022 Multifamily Acquisitions by Asset Class

Total multifamily acquisitions* in billions of dollars

Our footprint expands and contracts as market conditions change. When the market is healthy, we are responsible for about a fifth of acquisitions. When other sources of capital pull back, we can expand our market share to help ensure continued liquidity.

We execute our business through a network of 24 DUS Lenders who are delegated the authority to underwrite and service loans on our behalf in exchange for assuming part of the credit risk of each loan.

We are focused on providing liquidity to the multifamily market while creating a balanced guaranty book for Fannie Mae. This means financing strong credit quality business in all market segments and geographies. We balance our affordable business with core business in strong markets and we remain focused on providing the certainty of execution that our customers rely upon.

Our balanced book approach:

Since launching our Green Financing program in 2012, we’ve continued to grow our Green book of business each year, with total issuance of over $100 billion through 2021.

Offering greener, affordable, energy-efficient solutions leads to measurable impact. The energy- and water-efficiency improvements financed through Fannie Mae are projected to generate significant savings while reducing the properties’ environmental impact.

Although the green mortgage market is still a relatively new market, we’ve made tremendous strides over the last few years. In fact, Fannie Mae issued over $13 billion in Green Mortgage-Backed Securities in 2021. With that level of impact, we’re making green financing into more than just a feel-good product: We’re making it the new standard in multifamily lending.

For more information about Multifamily Green Financing, visit https://www.fanniemae.com/multifamily/green-initiative

As a market leader for financing multifamily properties, we work to ensure that access to affordable rental housing is available in all markets across the country. Financing affordable rental housing is at the heart of what we do, and we are committed to the preservation, rehabilitation, and new construction of quality housing. Our innovative products make this goal a reality.

Low-Income Housing Tax Credit (LIHTC) Equity

The federal government's LIHTC program encourages private equity investment in creating and preserving affordable rental housing for low- and very low-income households.

Our LIHTC investments support the creation and preservation of affordable rental housing when and where those needs are not being met. We also target specific areas: underserved markets; populations with unmet needs, including Native American and farmworker communities; supportive housing developments; and disaster-impacted areas.
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Expanded Housing Choice (EHC) Housing Choice Voucher Pricing Incentive

Through the Housing Choice Voucher (HCV) Program, the U.S. Department of Housing and Urban Development (HUD) helps provide access to housing for very low-income families, seniors, historically underserved populations, and people with disabilities. HCVs are administered by Public Housing Agencies, which pay a set subsidy toward the rent. The renter is responsible for the difference between the HUD-established fair market rent and the subsidy.

Our EHC initiative lowers borrowing costs when properties meet all eligibility guidelines, including a commitment to accept HCVs as a source of income. By accepting more HCVs, property owners can receive numerous benefits that include a steady stream of rent payments and helping more renters find a stable, affordable place to call home.
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Sponsor-Initiated Affordability

We believe in the importance of preserving affordability. With our Sponsor-Initiated Affordability product feature, we provide borrowers with lower borrowing costs when they create or preserve a minimum of 20% of units that are rent-restricted and occupied by households at or below 80% of Area Median Income for the life of the loan. Learn more.

Manufactured Housing

We've led the way in products that benefit renters in Manufactured Housing Communities (MHC). Tenant Site Lease Protections ensure that tenant rights are built into community policies and are now required at all MHCs we finance. Non-Traditional Ownership helps nonprofits, government entities, and residents acquire or preserve communities by offering discounted financing. We continue to support underserved markets in rural areas as part of our Duty to Serve MHC plan.
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We've been a consistent pioneer and leader in the push for more sustainable, energy- and water-efficient multifamily housing. Since launching our Green Financing program in 2012, we've continued to grow our green book of business each year. With a total issuance of over $100 billion through 2021, we are a global leader in green bond issuance.

Borrowers can follow one of two pathways to access Fannie Mae's green incentives:

Green Rewards is for existing properties where Borrowers commit to making energy and water-efficient improvements projected to generate consumption and cost savings while reducing environmental impact.

Green Building Certification is for new construction or existing properties with a recognized Green Building Certification.

Our Green Bond Impact Report provides a look at our proven success.
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Healthy Housing Rewards

Our Healthy Housing Rewards™ initiative provides financial incentives for Borrowers who incorporate health-promoting design features and practices or impactful resident services in their multifamily affordable rental properties.

Borrowers can follow one of two pathways to qualify for Healthy Housing incentives. Healthy Design is for properties that incorporate features encouraging healthy indoor and outdoor environments, such as improved air quality, building features that encourage physical activity, and more, as evidenced by a recognized healthy housing certification.

Enhanced Resident Services™ is for properties where Borrowers provide resident services for their tenants, such as health and wellness services, work and financial capability support, and child education and academic support.
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The future of multifamily finance is digital. Throughout the life of the loan, we've introduced enhancements to make it easier to do business with us. The result: better risk management, faster processes, and smarter decisions.

Digital is better. We're integrating with lender systems to achieve more efficiencies, share data that empowers customers, and improve user experiences. Our DUS 360^™ application allows for collaborative asset management that's fully digital — a better system that helps produce better risk management. And, our eServicing application supports the reporting process and streamlines the approval methods for our lenders.

Digital is faster. Our efforts to advance our capabilities won't slow down — and neither will our systems. We save our lenders valuable time and money with application programming interface (API) toolkits. These toolkits connect loan origination and underwriting systems to DUS Gateway®, enabling automated pricing and real-time quotes. Our supporting systems, such as DUS Inspect, DUS Insights, and DUS DocWay, provide lenders with a seamless way to connect with our processes.

Digital is smarter. Rich data will enable the business analytics of the future. We'll mine, analyze, and share our data to support smarter decision making, which will ultimately strengthen our portfolio. We lead the way in multifamily finance, and that means leading the way in the digital space. We look to a better, faster, and smarter future. We'll see you there.