Definition: Federal National Mortgage Association; commonly known as “Fannie Mae’, the FNMA is the largest buyer of existing mortgages. The Federal National Mortgage Association was originally organized by the federal government in 1938 to purchase FHA-insured mortgages. The association was reorganized in 1968 as a quasi-private corporation whose entire ownership is private. Fannie Mae raises capital by issuing corporate stock which is actively traded on the New York Stock Exchange and by selling mortgages out of its portfolio to various investors.
Learn about the different types of commercial loans and real estate lending programs offered by CLD with our loan finder. CLD provides Fannie Mae, Freddie Mac, FHA, CMBS, Conventional, Insurance, USDA, SBA, Bridge, and Construction Loans.
Fannie Mae loans provide financing for student housing properties, which is defined as a conventional multifamily property where 20% or more of the units are leased to undergraduate and/or graduate students, or a property that is specifically built or leased for student housing.
Fannie Mae’s Multifamily Mortgage Business offers a 7-year variable-rate financing option with an embedded cap, and an option to convert to fixed rate.
Fannie Mae’s Multifamily Mortgage Business offers first lien and supplemental mortgage loans that support additional loan proceeds for energy and water efficiency renovations for existing multifamily properties within New York City’s five boroughs.
A The Federal National Mortgage Association (FNMA or “Fannie Mae”) mortgage is an adjustable or fixed-rate loan product available for various types of multifamily properties. The underwriting and application process is standardized and performed by Delegated Underwriting and Services (DUS) lenders. Through it’s two major programs (Small Loan Program and DUS Program), Fannie offers multifamily mortgages starting at $750, 000. Like CMBS mortgages, these loans are pooled, securitized, and sold to investors, but typically serviced by the originator.
FNMA's Multifamily Mortgage Business provides first lien permanent mortgage loan financing for the acquisition and/or refinancing for apartment and multifamily properties.
A Fannie Mae (“Fannie Mae” or FNMA) mortgage is a loan product for apartment buildings with 5+ units. These loans can be fixed or floating and are generally non-recourse. It is a great product for various multifamily property types, including conventional apartments, affordable housing, senior housing, student housing, cooperative housing, and manufactured housing. It can also be used for mixed-use buildings where the other commercial units make up 20% or less of the gross income. Fannie Mae loans are only available for experienced multifamily investor/managers.
Fannie Mae provides offers Green Preservation Plus; an execution option that provides additional loan proceeds to finance energy and water efficiency improvements for existing Multifamily Affordable Housing (MAH) properties.
This program provides flexible financing, access to additional capital, fast execution, and provides a lower cost than refinancing.
