Bellwether Enterprise Designated Fannie Mae Full DUS® Lender
CLEVELAND – May 5, 2015 – Fannie Mae has announced Bellwether Enterprise Real Estate Capital LLC (Bellwether Enterprise), through its wholly owned subsidiary Enterprise Mortgage Investments, LLC (EMI), is now a Fannie Mae Delegated Underwriting and Servicing (DUS®) Lender. Full DUS status represents a significant expansion of Bellwether Enterprise’s nearly 20-year-old successful partnership with Fannie Mae.
“We’re excited to welcome Bellwether Enterprise to our network of DUS® lenders and to working together to provide financing that supports affordable multifamily housing,” said Jeffery Hayward, Executive Vice President and Head of Multifamily, Fannie Mae. “Our unique DUS model relies on delegation to our lender partners and shared risk, ensuring that all parties involved have a stake in each loan’s performance. For more than 25 years this model has helped us lead the multifamily market. We look forward to working with Bellwether Enterprise to continue to serve renters in every market every day.”
“Becoming a full DUS lender is important to Bellwether Enterprise’s continued growth and success and is also significant to Fannie Mae as it continues to maintain its leadership in the multifamily debt space, especially for affordable housing and small loans,” said Ned Huffman, president of Bellwether Enterprise.
As a full DUS lender, Bellwether Enterprise joins an elite current network of 24 DUS lenders nationwide. Because these lenders retain a portion of the underlying credit risk, lenders are authorized by Fannie Mae to underwrite, close and deliver most loans without pre-review, which allows for more efficient service to clients.
“Our new status represents Bellwether Enterprise’s commitment to becoming the best and most respected commercial mortgage banking company in the country. We are proud to receive this distinction by Fannie Mae,” continued Huffman. “As a previous Multifamily Affordable Housing and Workforce Housing lender for Fannie Mae, we are excited about the expanded service we are now able to provide clients as a Multifamily Affordable Lender and a full DUS lender.”
EMI became a Fannie Mae lender in 1995 and has funded over 260 loans totaling more than $816 million since that time. In May 2012, EMI became a wholly owned subsidiary of Bellwether Enterprise. Bellwether Enterprise is a national full service commercial and multifamily mortgage banking company and a subsidiary of Enterprise Community Investment Inc. (Enterprise).
“Our recognition as a full DUS lender underscores the quality of work we do, our first-rate underwriting capabilities and the kind of business we are able to generate. It’s also recognition of the commitment Bellwether Enterprise has made to invest significantly in the growth and development of the company,” added Huffman.
The U.S. is in the midst of a broad housing insecurity crisis that is affecting nearly 19 million low-income families who are homeless or paying more than half of their monthly income on housing. Enterprise’s goal and that of its parent, Enterprise Community Partners, Inc. is to end housing insecurity in the U.S within a generation. That means no more homelessness and no more families paying more than half of their income on housing. As a down payment toward that goal, by 2020 Enterprise will help provide opportunity to 1 million low-income families through quality affordable housing and connections to jobs, good schools, transit and health care. As part of the Enterprise family of companies, Bellwether Enterprise is committed to tapping its expertise and nationwide network to help achieve this goal.
For more information on Bellwether Enterprise and its services, visit www.BellwetherEnterprise.com.