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GSE Multifamily Business Growing

The volume of new financing for apartment properties has grown at both the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp.

First-quarter multifamily issuance at Fannie Mae was $7.1 billion.

The secondary lender’s volume was 44 percent more than securitizations during the first-quarter 2011.

Fannie previously reported that its lending partners financed 2,763 multifamily loans for $24.4 billion during all of last year.

Multifamily issuance for 2010 was $16.4 billion.

Fannie said it additionally re-securitized $2.6 billion of DUS MBS through its Fannie Mae Guaranteed Multifamily Structures program in the first quarter. By year end, Fannie Vice President of Multifamily Capital Markets Kimberly Johnson expects GeMS volume to exceed $10 billion.

Outstanding multifamily MBS stand at nearly $110 billion at the Washington, D.C.-based company.

Not far away, in McLean, Va., Freddie Mac reported that it purchased more than $20 billion in multifamily loans last year. The subject properties were comprised of 321,000 units.

Around $14 billion of 2011’s acquisitions were securitized.

CBRE Capital Markets was ranked by Freddie as the top seller nationwide with $4.13 billion in volume.

NorthMarq Capital LLC followed with $2.14 billion, then Berkadia Commercial Mortgage LLC’s $1.68 billion, Wells Fargo Multifamily Capital’s $1.49 billion and Holliday Fenoglio Fowler L.P.’s $1.43 billion.

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