Definition: Federal National Mortgage Association; commonly known as “Fannie Mae’, the FNMA is the largest buyer of existing mortgages. The Federal National Mortgage Association was originally organized by the federal government in 1938 to purchase FHA-insured mortgages. The association was reorganized in 1968 as a quasi-private corporation whose entire ownership is private. Fannie Mae raises capital by issuing corporate stock which is actively traded on the New York Stock Exchange and by selling mortgages out of its portfolio to various investors.
Fannie Mae provides loans for multifamily seniors housing properties and assisted living homes. Commercial loan direct provides low interest rates for assisted living property mortgages.
This program financing options for properties in which the residents collectively own the building(s) and property through their shares in the cooperative corporation.
A The Federal National Mortgage Association (FNMA or “Fannie Mae”) mortgage is an adjustable or fixed-rate loan product available for various types of multifamily properties. The underwriting and application process is standardized and performed by Delegated Underwriting and Services (DUS) lenders. Through it’s two major programs (Small Loan Program and DUS Program), Fannie offers multifamily mortgages starting at $750, 000. Like CMBS mortgages, these loans are pooled, securitized, and sold to investors, but typically serviced by the originator.
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Fannie Mae’s Multifamily Mortgage Business offers a 7-year variable-rate financing option with an embedded cap, and an option to convert to fixed rate.
Fannie Mae provides financing for student housing properties, which is defined as a conventional multifamily property where 20% or more of the units are leased to undergraduate and/or graduate students, or a property that is specifically built or leased for student housing.
Fannie Mae provides offers Green Preservation Plus; an execution option that provides additional loan proceeds to finance energy and water efficiency improvements for existing Multifamily Affordable Housing (MAH) properties.
FNMA's Multifamily Mortgage Business provides first lien permanent mortgage loan financing for the acquisition and/or refinancing for apartment and multifamily properties.
Fannie Mae loans provide financing for student housing properties, which is defined as a conventional multifamily property where 20% or more of the units are leased to undergraduate and/or graduate students, or a property that is specifically built or leased for student housing.
