Multifamily MBS
For over 35 years, Fannie Mae has been a reliable source of funding for the secondary mortgage market, primarily through our Delegated Underwriting and Servicing (DUS®) model, a premier financing platform in the multifamily market. Our DUS MBS, generally backed by a single asset, transforms a mortgage loan into a more liquid asset, making more capital available to the market.
Creating a DUS MBS starts with a multifamily loan from a DUS lender to a borrower to finance or refinance a property (property types include apartment buildings, manufactured housing communities, seniors housing, dedicated student housing, military housing, and cooperatives with five or more individual units). When the DUS MBS - backed by a fixed- or an adjustable-rate multifamily loan - is issued, we guarantee timely principal and interest payments to the MBS certificateholders.
Multifamily MBS may be placed into Megas®, REMICs, or other structured transactions.
More about Multifamily MBS
Our Guaranty
Fannie MBS are backed by our guaranty of timely principal and interest payments and offer benefits like lower spread volatility relative to many comparable products, stable and easily modeled cash flows, superior call protection, and enhanced liquidity supported by our active dealer network.
- Securities collateralized by Fannie Mae MBS are generally considered high quality, and senior tranches of such securities are often rated AAA, though ratings depend on the specific structure and issuer.
- Principal and interest payments on Fannie Mae-issued certificates are not guaranteed by the United States and do not constitute a debt or obligation of the United States or any of its agencies or instrumentalities other than Fannie Mae.
- Fannie Mae uses prudent underwriting guidelines to evaluate the credit quality of the loans it guarantees to minimize losses to investors.
DUS Disclose® Overview
DUS Disclose is a comprehensive source for Fannie Mae Multifamily resources, including disclosures, legal documents, data files, and options to search for MBS, Megas, and REMICs.
Legal, Tax & Reference
Additional Reference Materials
- Manufactured Housing Communities (MHC) Product Overview
- Multifamily Fixed-Income Securities: Disaster Resources
Quick Securities Locator
Search for disclosure and related documents for a security. Search by:
- Security Identifier (e.g., BD3584)
- CUSIP (e.g., 3140FA6Z0)
- Trust Identifier (e.g., 2019-005, TR000425)