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’s Multifamily Mortgage Business offers long term financing with a very competitive variable interest rate that is convertible to a fixed rate.
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 apartment loans from the #1 ranked correspondent lender. Save with fixed rates and low closing costs.
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.
This program provides flexible financing, access to additional capital, fast execution, and provides a lower cost than refinancing.
For those of you who are getting familiar with Fannie Mae Loans, this program offers federally guaranteed mortgages and is one of the largest multi-family loan programs in the country. There are both fixed and variable products available for all property types and are offered nationwide. Properties that fall under the Fannie Mae category are apartments, affordable housing, senior housing, student housing and manufactured housing. There are two major Fannie Mae loan programs in which the majority of products fall under. These loan products are called The Standard DUS Mortgage Product and the Small Loan Programs.
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 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.
This program financing options for properties in which the residents collectively own the building(s) and property through their shares in the cooperative corporation.
