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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Uptick in Fannie's Multifamily Commitments

$5.9 billion in first-half 2010 volume

July 27, 2010

By staff

Nearly $6 billion in apartment lending activity has been generated this year at the Federal National Mortgage Association. An executive for the company noted that multifamily loan commitments recently strengthened.

Fannie Mae today reported $5.9 billion in multifamily investments during the first six months of this year.

While no prior-period data was reported, a quarterly commercial originations report from the Mortgage Bankers Association indicated that first-quarter multifamily originations at the secondary lender and market rival Freddie Mac declined by more than 40 percent from the fourth-quarter 2009 and by nearly half from the first-quarter 2009.

Fannie, which claims to provide more liquidity to the multifamily market than any other financial institution in the country, noted that $5.5 billion of first-half activity was delivered through MBS execution.

"Despite challenged fundamentals, we are beginning to see an uptick in commitment activity," Kenneth Bacon said in the statement. Bacon is Fannie's executive vice president of housing and community development division.

About 90 percent of the government-controlled enterprise's activity this year was for low- and moderate-income families.

As of April 30, delinquency of at least 60 days on Fannie's multifamily loans was 0.78 percent, higher than 0.63 percent at the end of last year.

Bacon said that the Washington, D.C.-based firm is managing credit risk with "prudent lending standards and asset quality for new loans."

Fannie Mae profile

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