Fannie Mae did $24 billion of multi-family mortgages last year, of which 98% were put into mortgage-backed securities. The leading Delegated Underwriting and Servicing program originator was Wells Fargo Bank NA.
Its top 11 DUS producers did a minimum of $1 billion each in 2011. The remaining lenders in the top five were: Walker & Dunlop LLC; Beech Street Capital LLC; Deutsche Bank Berkshire Mortgage Inc. (soon to be Berkeley Point Capital); and PNC Bank NA.
As part of that $24 billion total (which funded 2,763 mortgage loans), multifamily affordable housing, which provides financing for rent-restricted properties and properties receiving other federal and state subsidies, accounted for $2.3 billion, an increase of 282% compared with 2010.
In addition, seniors housing loans totaled $1.4 billion, an increase of 121% over 2010, while loans secured by manufactured housing communities were $535 million, essentially the same as in 2010.
