Fannie Mae provided $28.8 billion in financing to the multifamily market in 2013, working with lender partners to finance 507,000 units of multifamily housing, according to the government-sponsored enterprise (GSE).
Fannie Mae says approximately 99% ($28.5 billion) of the loans that it financed in 2013 were delivered through mortgage-backed securities execution. It also reports it met the Federal Housing Finance Agency's goal to reduce multifamily volumes by 10% relative to 2012 levels, achieving 95% of its total volume capacity.
Fannie Mae's Delegated Underwriting and Servicing (DUS) lenders delivered 99% of its 2013 multifamily loan acquisitions, according to the GSE.
The company reports the following top 10 DUS lenders that produced the highest volume in 2013, as well as the top five DUS Lenders that produced the highest volume in the multifamily affordable housing and seniors housing categories in 2013, listed in descending order:
Top 10 DUS Producers in 2013
1.Â Â Â Walker & Dunlop LLC
2.Â Â Â Wells Fargo Multifamily Capital
3.Â Â Â CBRE Multifamily Capital Inc.
4.Â Â Â Beech Street Capital LLC
5.Â Â Â Berkadia Commercial Mortgage LLC
6.Â Â Â Prudential Mortgage Capital Co.
7.Â Â Â M&T Realty Capital Corp.
8.Â Â Â PNC Real Estate
9.Â Â Â Arbor Commercial Funding LLC
10.Â Berkeley Point Capital LLC
Top Five DUS Producers for Multifamily Affordable Housing in 2013
1. Wells Fargo Multifamily Capital
2. Oak Grove Capital
3. Greystone Servicing Corp. Inc.
4. Walker & Dunlop LLC
5. TIE:Â Citibank NA and PNC Real Estate
Top 5 DUS Producers for Seniors Housing in 2013
1. KeyBank National Association
2. Oak Grove Capital
3. CBRE Multifamily Capital Inc.
4. Berkadia Commercial Mortgage LLC
5. Red Mortgage Capital LLC
Production highlights for individual business categories, which are part of the overall total 2013 multifamily investment number, are as follows:
– Multifamily Affordable Housing (financing for rent-restricted properties and properties receiving other federal and state subsidies): $2.3 billion, a decrease from 2012's $3.8 billion
– Small Loans (loans of up to $3 million, or $5 million in high cost areas): $2.3 billion, down from $3.0 billion in 2012
– Large Loans (loans $25 million or higher): $10.4 billion, down from $11.6 billion in 2012
– Manufactured Housing Communities: $1.0 billion, an increase from $912 million in 2012
– Student Housing: $454 million, a decrease from $712 million in 2012
– Structured Transactions: $1.9 billion, a slight increase from 2012's $1.8 billion
– Seniors Housing: $1.6 billion, up from 2012's $1.2 billion