Fannie Mae & Freddie Mac Loans

Multifamily and manufactured housing loans intended for government-sponsored enterprises such as Fannie Mae and Freddie Mac, as well as HUD-supported and state tax-credit financings, require more than a strong understanding of real estate and finance. They also require familiarity with each program’s delivery requirements and the structural considerations involved in tax-credit transactions.

Dickinson Wright’s real estate finance attorneys use proprietary document automation and transaction management systems to close routine matters efficiently and cost-effectively. We also have the experience to manage more complex transactions that require a tailored approach. Our representation of lenders ranging from local banks holding loans in portfolio to major commercial mortgage-backed securities lenders allows us to provide practical service across a wide range of financing needs.

Our Team

Our lawyers participate in a range of real estate and finance organizations, including the Mortgage Bankers Association, the Commercial Real Estate Finance Council, the Mortgage Industry Standards Maintenance Organization, the American College of Mortgage Attorneys, and the American College of Real Estate Lawyers. Members of the team have also been recognized by Chambers USA®, The Best Lawyers in America®, Super Lawyers®, Law360, and other leading publications.

Our Services

Our real estate finance team represents lenders and borrowers in all aspects of Fannie Mae and Freddie Mac loan transactions. We have closed thousands of multifamily and manufactured housing mortgage loans in the $1 million to $10 million range. Our document automation and process improvements help us manage these transactions efficiently while remaining attentive to the specific needs of small-balance lenders and borrowers. As lender’s and borrower’s counsel, we regularly develop practical approaches to help move transactions toward closing.

• Assisting with Fannie Mae application and qualification requirements
• Designing loan program requirements and closing processes
• Serving as national counsel for the launch of Fannie Mae small-loan programs
• Providing outsourced support for selected loan-closing functions
• Providing traditional real estate finance and closing services
• Negotiating loan applications, commitments, and loan documents, including provisions involving foreign citizens
• Negotiating complex transfer provisions for highly structured joint ventures

Representative Matters

• Fannie Mae Small Loan Program: Assisted lenders with the Fannie Mae application and qualification process, designed loan program requirements and procedures, provided outsourced support for selected loan-closing functions, and served as lender’s closing counsel for transactions across the country.
• Small-Balance Loans: Closed thousands of multifamily and manufactured housing mortgage loans in the $1 million to $10 million range. Developed document automation and process improvements that support efficient, cost-effective closings while addressing the needs of small-balance borrowers and lenders.
• Foreign Guarantors: Served as lender’s closing counsel in negotiating loan application, commitment, and document provisions involving a foreign citizen serving as a nonrecourse carveout guarantor in a $20 million GSE transaction.
• Complex Transfer Provisions: Negotiated special transfer provisions for a highly structured joint venture between an institutional investor and its development partner. Also represented a borrower in negotiating estate-planning transfer provisions for a family-owned entity spanning several generations.
• Manufactured Housing: Closed hundreds of manufactured housing community transactions for a range of lenders, including transactions outside Fannie Mae and Freddie Mac programs. We also regularly represent manufactured housing community borrowers.
• Tenancies in Common: Documented tenancy-in-common transactions arising from Section 1031 exchanges, including a transaction involving six entities, trusts, and individual owners located across several states.
• Ground-Leased Manufactured Housing Communities: Negotiated and documented ground lease amendments and related agreements needed to close complex manufactured housing transactions.
• HUD and Tax-Credit Financings: Represented borrowers in Arizona, Michigan, and other jurisdictions in HUD-supported loans, state-agency approved financings, and federal and state tax-credit transactions.