Wells Fargo Tops List of 2010′s Largest Multifamily Lenders

By Michael Gerrity, World Property Channel on May 3, 2011 2:04 PM

According to a new report by Fannie Mae (OTC:FNMA), 2010′s top ten multifamily lender partners produced the highest multifamily loan volumes by contributing at least $870 million each.

“In the face of a challenging market, the DUS lenders have continued to lend, providing liquidity and stability to the multifamily market,” said Ken Bacon, Executive Vice President of Fannie Mae’s Multifamily Mortgage Business. “These results confirm that the multifamily business is well positioned to continue to grow and do well in the future thanks to the hard work and dedication of our DUS lenders.”

Fannie Mae’s Delegated Underwriting and Servicing (“DUS”) program was created 23 years ago and is recognized in the industry as the premier multifamily lending platform in the country. The delegated model, with risk sharing at its core, has served Fannie Mae and the industry well. In fact, the concept of risk retention has recently been proposed as a way to ensure proper underwriting and sustainable lending.

Fannie Mae works with its lender partners to provide multifamily debt solutions for all segments of the multifamily market, including small and large multifamily loans, seasoned pool purchases and structured transactions. Approximately 91 percent of the multifamily units financed by Fannie Mae through its lender network are affordable to America’s working families earning at or below the median income of their communities.

In 2010, Fannie Mae and its lender partners provided $16.9 billion in debt financing for the rental housing market, through approximately 2,300 multifamily mortgage loans for 306,000 rental units across the U.S.

The top ten multifamily loan originators, listed in descending order:

1. Wells Fargo Bank N.A.;

2. DB Mortgage Services, LLC;

3. Walker & Dunlop, LLC;

4. CBRE Multifamily Capital, Inc;

5. PNC Bank, National Associations;

6. Arbor Commercial Funding, LLC;

7. Prudential Multifamily Mortgage, Inc;

8. CW Capital LLC;

9. M&T Realty Capital Corporation;

10. Greystone Servicing Corporation, Inc.

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