PNC Financial Services Group Inc. was Fannie Mae's top loan originator of multifamily debt financing product for 2009, followed by Deutsche Bank Berkshire Mortgage and Prudential Multifamily Mortgage Inc. in second and third place, respectively.
Last year, Fannie Mae invested $19.8 billion in multifamily housing through its Delegated and Underwriting and Servicing (DUS) and other lending programs.
‘The DUS lenders remain committed to providing liquidity and stability to the multifamily market during these challenging times and continue to demonstrate market leadership in producing solid results in 2009,’ says Ken Bacon, executive vice president of Fannie Mae's housing and community development division.
Fannie Mae DUS lenders were responsible for over 90% of the Fannie Mae multifamily debt business in 2009, delivering $18.6 billion of the company's total investment in multifamily housing.
The following 10 DUS lenders produced the highest volume by contributing at least $700 million each through the DUS platform in 2009:
- PNC Financial Services Group Inc.,
- Deutsche Bank Berkshire Mortgage,
- Prudential Multifamily Mortgage Inc.,
- Wells Fargo Bank NA,
- Walker & Dunlop LLC,
- Greystone Servicing Corp. Inc,
- Grandbridge Real Estate Capital LLC,
- Arbor Commercial Funding LLC,
- AmeriSphere Multifamily Finance LLC, and
- CB Richard Ellis Inc.
Nearly 90% of the units financed by these and other Fannie Mae DUS lenders are affordable to families at or below the median income of their communities, the GSE notes.
SOURCE: Fannie Mae