PNC Named 2009 Top Multifamily Debt Financing Originator by Fannie Mae
This summer, Fannie Mae recognized PNC at its annual Delegated Underwriting Servicing lending partner (DUSŪ) conference as the top DUS lender for 2009. Along with other top originators, PNC continues to contribute to liquidity and stability in the market during challenging times.
As a Fannie Mae Delegated Underwriting Servicing lending partner (DUSŪ), PNC helps provide financing solutions for developers, owners and operators of multifamily properties. In 2009, PNC contributed nearly $3 billion through Fannie Mae's DUS program, which funded the organization's investment in multifamily housing last year.
PNC provides multifamily debt solutions including small and large multifamily loans, seasoned pool purchases and structured transactions. PNC and other DUS lenders conducted more than 90 percent of Fannie Mae's 2009 multifamily debt business. And, Fannie Mae reports, nearly 90 percent of the units financed by these lenders are affordable to families at or below the median income of their communities.