Jul
30

Fannie Mae DUS Lending Up 30% in First Half

By
July 30, 2008

By Poonkulali Thangavelu – National Real Estate Investor

While the government-sponsored enterprise battles fallout from the single-family housing downturn, Fannie Mae’s multifamily side is faring better. For the first half of 2008, Fannie Mae reports that it invested a total of $20 billion in multifamily housing, largely fueled by more than $18 billion in lending channeled through its delegated underwriting and servicing (DUS) channel.

Fannie Mae’s DUS lending activities received the biggest boost in the first half, gaining 30% over production in the first half of 2007. Multifamily investment activity in the first half of 2008, however, declined more than $27 billion from the first half of 2007.

“The multifamily market is considerably smaller so far in 2008, however, Fannie Mae has been able to remain the multifamily market leader. Despite a decline in overall production, our DUS lenders have had their strongest performance at mid-year than they ever have before,” says Jon Searles, spokesperson for Fannie Mae.

Ken Bacon, Fannie Mae’s executive vice president of housing and community development, reaffirmed the GSE’s role in the multifamily market to provide clarity and certainty to the market.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://nreionline.com/industrynews/fannie_mae_lending_up_first_half_0730/

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