Fannie Mae provided $28.9 billion in financing to the multifamily market last year that supported 446,000 housing units.
The government-sponsored enterprise financed $12.6 billion in loans that were $25 million or higher, up 21% from the previous year. Conversely, small loans — up to $3 million, or $5 million in high-cost areas — fell 52% year over year, to $1.1 billion.
Additionally, multifamily affordable housing and student housing financing both increased on a yearly basis by 13% and 83%, respectively, to $2.6 billion and $831 million.
Meanwhile, financing for manufactured housing communities, structured transactions and senior housing all declined in 2014 compared to the year before.
Fannie securitized approximately 99% of its financed loans in 2014, the Washington-based trade group said in a Monday press release.
“The first half of the year was slow for everyone, so to have reached $28.9 billion in volume is a significant accomplishment,” said Hilary Provinse, senior vice president for multifamily customer engagement at Fannie Mae. “But it’s not just the volume that’s impressive, it’s the quality of the business — we’re taking smart risk and winning the right deals.”
Walker Dunlop produced the highest underwriting and servicing volume for Fannie in 2014. Other notable top-producing lenders included Wells Fargo Multifamily Capital, Berkadia Commercial Mortgage, CBRE Multifamily Capital and PNC Real Estate.