Washington, D.C. – November 7th, 2017 (PRNewswire) Fannie Mae (OTC Bulletin Board: FNMA) provided nearly $4 billion in financing to support the Seniors Housing market through the third quarter of 2017 – the highest volume in the history of its Delegated Underwriting and Servicing (DUS®) program. The unique DUS risk-sharing platform has provided pricing transparency and risk alignment to borrowers, lenders, and investors for nearly 30 years.
“Fannie Mae is committed to Seniors Housing which serves a critical need for our country’s aging population,” said Roosevelt Davis, Director of Multifamily Seniors Housing, Fannie Mae. “Because these transactions are complex, we work closely with our approved DUS lenders who are experienced in financing Seniors Housing, and we target our financing to strong sponsors and operators in this market sector.”
Fannie Mae’s leadership in the Seniors Housing market spans more than two decades and has long been recognized in the multifamily industry, with a book of business of $13.4 billion through the third quarter of 2017. The company finances Senior Housing properties across the spectrum of acuity – Independent Living, Assisted Living, Alzheimer’s/ Dementia Care, or any combination of the three. Fannie Mae also finances Continuing Care Retirement Communities and some facilities with Skilled Nursing.
“For the last decade, Fannie Mae has worked side by side with Capital Senior Living to help us achieve our strategic goals,” said Larry Cohen, Chief Executive Officer, Capital Senior Living. “The outstanding team at Fannie Mae has in-depth knowledge of the seniors housing industry, a track record of reliable execution and goes above and beyond to address our needs whether through acquisition financing, portfolio refinancing or supplemental loans.”
Fannie Mae’s significant increase in Seniors Housing business in 2017 is attributed primarily to the company’s unique Credit Facility product. “Our Credit Facilities are flexible, powerful financing tools that allow borrowers to manage debt across their Seniors Housing Portfolios,” said Phyllis Klein, Multifamily Vice President for Production, Fannie Mae. “Borrowers value the ability to combine variable- and fixed-rate debt, and to buy and sell assets on their schedule through our Credit Facilities.”
For additional information on Fannie Mae’s Seniors Housing business, please visit www.fanniemae.com/multifamily.
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.