The multifamily market grew tremendously over the past year, thanks to $70 billion in financing from Fannie Mae. The funding of multifamily affordable housing rose more than 23% in 2021 to the highest volume in the history of its 33-year-old Delegated Underwriting and Servicing program.
Fannie Mae was a consistent source of liquidity for multifamily borrowers and support for renters in need as the economy and countless lives suffered disruptions from the pandemic.
In all, multifamily affordable housing totaled $9.6 billion last year, up 23.1% from $7.8 billion in 2020. Meanwhile, Green Finance volume totaled $13.5 billion, up 3.6% from last year’s $13 billion. Green Finance volume totaled $13.5 billion, up 3.6% from last year’s $13 billion. This helped Fannie Mae’s Multifamily Green MBS issuance flourish to more than $100 billion last year.
"We are pleased to have increased our support of multifamily affordable housing in a year when the need for affordable housing options became more acute," said Michele Evans, executive vice president and head of multifamily, Fannie Mae. "Working with our DUS lenders we will continue to focus on preserving and expanding the supply of affordable housing, as well as financing quality green and sustainable rental units. We will also ensure that resources remain available for renters as our economy and financial markets cope with pandemic-related disruptions."
"We want to thank our DUS lenders for helping us support the multifamily market in another challenging year," said Rob Levin, senior vice president of multifamily customer engagement, Fannie Mae. "Together with our lenders we have been able to ensure there is adequate liquidity in all multifamily markets at all times, and we look forward to working with our lender partners in 2022."
The top 10 DUS lenders produced the highest business volume in 2021. In first place is Walker & Dunlop, LLC with $9.6 billion in volume, followed by CBRE Multifamily Capital, Inc. ($6.8 billion), Berkadia Commercial Mortgage, LLC ($6.6 billion), Wells Fargo Multifamily Capital ($4.4 billion), Newmark ($4.4 billion), Greystone Servicing Company, LLC ($4.3 billion), JLL Real Estate Capital, LLC ($4.3 billion), Arbor Commercial Funding I, LLC ($3.7 billion), Capital One, National Association ($3.7 billion), and KeyBank National Association ($3.6 billion).
The top 5 DUS lenders are ranked by the highest volumes for Multifamily Affordable Housing. The top lender is Wells Fargo Multifamily Capital, Grandbridge Real Estate Capital, LLC, CBRE, Multifamily Capital, Inc., Berkadia Commercial Mortgage, LLC, and Walker & Dunlop, LLC.
The top 5 DUS producers for manufactured housing communities are: Walker & Dunlop, LLC, KeyBank National Association, Berkadia Commercial Mortgage, LLC, Bellwether Enterprise Real Estate Capital, LLC, and NorthMarq.
The top DUS producers in Green Financing are: Walker & Dunlop, LLC, CBRE Multifamily Capital, Inc., Greystone Servicing Company LLC, Berkadia Commercial Mortgage, LLC, and JLL Real Estate Capital, LLC.
