Fannie Mae also reported record levels of activity for 2006. At a Fannie Mae press briefing at the Mortgage Bankers Association's commercial and multifamily real estate finance convention in Orlando, company executives said that the second half of 2006 saw the conduits sidelined and more business being directed to the GSEs. Phil Weber, senior vice president of multifamily lending, noted that the single-family downturn will have an impact on the multifamily business as well, but long-term multifamily fundamentals are good. Fannie Mae has introduced a mezzanine product for the rehabilitation market.
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