Commercial/Multifamily Briefs From M&T, Fannie Mae
M&T Announces New Affordable Housing Platform
M&T Commercial Banking, M&T Realty Capital Corporation, M&T Securities and M&T Investment Banking Group announced a new Affordable Housing platform to deliver offerings from its various divisions to our clientele across the affordable housing sector.
“As a community bank, we know first-hand the pressing need for more affordable housing across the diverse communities we serve, and have committed ourselves to supporting our clients working to fill this need,” said Peter D’Arcy, Area Executive and Head of M&T Bank Commercial Real Estate. “To this end, M&T Bank has built a team with deep knowledge and depth of experience across our enterprise who are ready to support you.”
M&T Realty Capital Corp. President and CEO Michael Berman noted M&T has averaged more than $1 billion in affordable housing production annually in the last three years. “We now are executing plans to grow that volume with our new Freddie Mac TAH license, and will hire additional specialists for this platform,” he said. “Our full-service approach to affordable housing underscores M&T’s strong community engagement and our commitment to assisting underserved people and regions.”
Fannie Mae Prices $536M Green Multifamily DUS REMIC
Fannie Mae, Washington, D.C., priced a $536 million Green Multifamily Delegated Underwriting and Servicing REMIC under its Fannie Mae Guaranteed Multifamily Structures program on October 15, 2020. FNA 2020-M46 marked the ninth Fannie Mae GeMS issuance of 2020.
“The M46 was the third GeMS deal of 2020 backed entirely by our Green MBS collateral,” said Dan Dresser, Senior Vice President of Multifamily Capital Markets & Pricing with Fannie Mae. “In addition to our traditional 10-year collateral, the M46 also offered investors a Green 15-year tranche for the first time. We continue to work to provide the same level of rigor and environmental impact to ESG investors across the yield curve.” Fannie Mae guarantees all classes of FNA 2020-M46 with respect to the full and timely payment of interest and principal.
