Fannie Mae Announces Semiannual Multifamily Investment Volumes

News provided by

Jul 27, 2010, 10:30 ET

WASHINGTON, July 27 /PRNewswire-FirstCall/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced that the company, through its lender and housing partners, provided $5.9 billion in investment to the multifamily rental housing market for the first half of 2010.

"In today's constrained market, Fannie Mae and our Delegated Underwriting and Servicing (DUS®) lender partners remain diligent about providing much needed liquidity and stability," said Kenneth Bacon, Executive Vice President of Fannie Mae's Housing and Community Development division. "Despite challenged fundamentals, we are beginning to see an uptick in commitment activity and continue to manage credit risk by maintaining prudent lending standards and asset quality for new loans. Fannie Mae's commitment to sustainability and support of the DUS lenders help us in our efforts to stabilize the market."

Fannie Mae Multifamily has bolstered its MBS business since focusing its efforts on securitization and broadening the investor base in 2009. Today, the company provides liquidity to the multifamily market mainly through MBS issuance. Of the $5.9 billion invested in the first half of this year, $5.5 billion was delivered through MBS execution.

The company provides more liquidity to the multifamily market than any other financial institution in the country and continues to serve housing needs of low- to middle-income Americans. In the first half of the year, roughly 90 percent of the rental units financed have been for low and moderate income families.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

DUS is a registered mark of Fannie Mae. Unauthorized use of this mark is prohibited.

SOURCE Fannie Mae