The multi-housing group within the capital markets business of Los Angeles-based CB Richard Ellis Group Inc. (CBRE) has become a Fannie Mae Delegated Underwriting and Servicing (DUS) lender.
Fannie Mae DUS lenders are approved to originate, underwrite, close and service loans without prior approval by Fannie Mae, while Fannie Mae delegates the underwriting of the loans to the DUS lenders, explains CBRE.
‘Adding Fannie Mae DUS to our service offering allows the capital markets platform to provide our clients the full benefit of both GSE lending sources,’ says Ron Halpern, managing director of CBRE's multi-housing group. ‘We can consistently offer our clients one of the best-priced, most cost-effective financings available through an efficient in-house underwriting and closing process.’
Halpern will be responsible for overseeing the production, underwriting and closing of CBRE loans under the Fannie Mae DUS program. He also assists in the oversight of the day-to-day operations of CBRE's multi-housing group and spearheads the company's HUD/FHA initiative.
The company adds that Don Brais will be responsible for the credit quality and investor compliance of the Fannie Mae DUS loans, and Kyle Draeger will oversee marketing and transaction structuring of these loans.