Erika Morphy is co-editor of Debt and Equity Journal.
Washington, DC—Fannie Mae recently introduced new regulations designed to reduce waiver requests from lenders. In essence, it transferred many of the decisions it formerly made in underwriting transactions to DUS lenders.
The new regs, says Colin Whittier, vice president of KeyBank Real Estate Capital in Dallas, “will allow us to quote a lot more deals in a shorter period of time.” Whittier says Fannie and Freddie Mac looked at deals in 2006 and the first half of 2007 on a case-by-case basis. “Lenders would have to come to them and say, 'I want to win this deal and XYZ conduit is quoting it this way. I need to match it.' Fannie would most likely agree, or, occasionally, not,” he explains.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
