What is the Definition of Fannie Mae?
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.
Pages that Mention Fannie Mae
Fannie Mae Green Preservation Plus
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.
Fannie Mae Supplemental Apartment Loans
This program provides flexible financing, access to additional capital, fast execution, and provides a lower cost than refinancing.
Fannie (FNMA) Mae Student Housing 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 Apartment Loan Application Process
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 Tax-Exempt Bond Credit Enhancement
Fannie Mae provides credit enhancement for tax-exempt bonds issued to finance the acquisition, new construction, refinancing, or moderate to substantial rehabilitation of affordable housing multifamily properties with Low Income Housing Tax Credit (LIHTC) rent restrictions.
Fannie Mae Choice Refinance Program Apartment Loans
This program provides flexible financing, lower costs, and a fast execution. Eligible properties must be stabilized and must have satisfactory ratings on the most recent property inspection.
Fannie Mae Structured Adjustable Rate Apartment Loans
Fannie Mae’s Multifamily Mortgage Business offers long term financing with a very competitive variable interest rate that is convertible to a fixed rate.
Fannie Mae M-PIRE Apartment Loans
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.
Fannie Mae Standard DUS Apartment Loans
FNMA's Multifamily Mortgage Business provides first lien permanent mortgage loan financing for the acquisition and/or refinancing for apartment and multifamily properties.
What is a Fannie Mae Apartment Loan
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.