Fannie Mae Multifamily Closes 2024 With More Than $55 Billion In Volume

Company Provided Continued Stable Support for Affordable Rental Housing and Other Essential Multifamily Market Sectors

WASHINGTON, Jan. 22, 2025 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA ) provided more than $55 billion in financing to support the U.S. multifamily market in 2024, the company announced today. Through its network of Delegated Underwriting and Servicing (DUS^®) lender partners, Fannie Mae continued to serve the needs of multifamily borrowers while expanding its suite of creative products and initiatives and strengthening its underwriting.

Fannie Mae provided significant liquidity across key housing segments in 2024, including more than $6.3 billion in Multifamily Affordable Housing, $4.7 billion in Small Loans, $1.3 billion in Manufactured Housing, and $6.6 billion in Structured Transactions. Notably, the company saw a 101% year-over-year gain in its Green Financing loan production, up from $7.5 billion in 2023 to $15.1 billion in 2024. Additionally, Fannie Mae committed $1.2 billion of total forward commitments in 2024 – up from $326 million in 2023 – enabling the development and rehabilitation of additional affordable housing supply by providing certainty and stability for lender, borrower, and builder pipelines.

The company also has committed approximately $4 billion in net equity to Low-Income Housing Tax Credit (LIHTC) investments since re-entering the LIHTC market in 2018. Through these investments, Fannie Mae has enabled the creation and preservation of tens of thousands of affordable rental housing units and invested in hundreds of properties in communities throughout the United States.

In 2024, Fannie Mae advanced its Sponsor-Dedicated Workforce (SDW) and Sponsor-Initiated Affordability (SIA) initiatives for multifamily borrowers, offering private-market financing mechanisms to create and preserve more workforce and affordable housing. Additionally, Fannie Mae enhanced its Expanded Housing Choice pilot initiative in 2024 to enable more multifamily borrowers to increase rental housing opportunities for Housing Choice Voucher holders across the country.

"With the continued support, commitment, and adaptability of our DUS lenders, Fannie Mae remained a leading and stable source of multifamily mortgage financing nationwide during another challenging year for the market," said Rob Levin, Senior Vice President and Multifamily Chief Customer Officer, Fannie Mae. "We are grateful to our partners for their feedback on how we can increase liquidity to best support the multifamily housing industry. Together, we finished the second half of 2024 strong, and we have carried that momentum into 2025 to unlock new opportunities for lenders, borrowers, and investors."

The following top 10 DUS Lenders produced the highest business volumes with Fannie Mae in 2024. Also listed below are the Top Lender rankings for highest volumes in 2024 for Multifamily Affordable Housing, Structured Transactions, Green Financing, Small Loans, Manufactured Housing Communities, Seniors Housing, and Student Housing.

Top 5 DUS Producers for Multifamily Affordable Housing in 2024 ¹