Perhaps another sign of a shift in the federal government toward a rentership society comes with an announcement from Fannie Mae. The company announced that in the first half of 2011, it had issued $10.3 billion in MBS backed by new multifamily acquisitions.
"In today's economic environment, Fannie Mae continues to deliver liquidity to the multifamily housing market and provide investment options to market participants," said Kimberly Johnson, Fannie Mae Vice President for Multifamily Capital Markets. "Through our multifamily MBS issuance (including DUS MBS, GeMSTM structured transactions and portfolio activities), Fannie Mae provided market participants with considerable volume and a variety of execution options in the first half of 2011."
Beginning in 2009, Fannie Mae says it made reinvigoration of its multifamily MBS business and broadening the investor base a top priority. By ramping up its MBS execution and transforming the multifamily capital markets business, Fannie Mae has shifted from being primarily a multifamily portfolio market participant to one that provides liquidity to the multifamily market mainly through securitization.
Fannie Mae provides the largest share of U.S. multifamily mortgage financing, and traditionally has been a leader in this market.
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