NEW YORK--(BUSINESS WIRE)--Basis Multifamily Finance I, LLC (“Basis”), a subsidiary of Basis Investment Group, LLC, (BIG) a national commercial real estate (CRE) investment platform founded by CEO Tammy K. Jones, announced today that Fannie Mae (FNMA/OTCQB) has approved Basis as a DUS® (Delegated Underwriting and Servicing) lender. Basis, a nationally recognized CRE and multifamily lender and investor, will add the Fannie Mae DUS program to its diversified array of debt and equity product offerings for its Borrowers and Partners.
The DUS lender approval will strengthen Basis’ reach in the Agency Lending business and position the firm to build upon its existing multifamily platform, which was primarily driven by its partnership with Freddie Mac as an Optigo® lender. Basis is the only African American- and Women-Owned (MWBE) Fannie Mae DUS lender at this time and will bring additional diversity to the DUS platform.
“Being approved as a Fannie Mae DUS lender is transformational for Basis,” said Tammy K. Jones, BIG CEO and Founder. “This approval will give us a real shot at leveling the playing field so that we can truly compete in the Agency space. The partnership with Fannie Mae is a natural step in our growth trajectory as we continue to build out our national multifamily platform.”
Jones further noted that Basis’ approach to providing debt and equity across the capital stack and developing strategic partnerships, which include Minority Depository institutions and qualified diverse borrowers and owners, makes Basis a unique partner for Fannie Mae to provide access to credit for all borrowers in all markets.
“We are excited about our partnership with Fannie Mae and look forward to the impact that working together will have in terms of expanding capital access in the workforce and affordable housing arena,” added Kunle Shoyombo, Basis’ Chief Investment Officer and National Head of Production. “With the addition of Fannie Mae’s lending capabilities to our platform, Basis is truly a full-service lender and can offer the best financing solutions for our Borrowers and clients.”
Since its inception in 2009, BIG has been at the forefront of enacting and empowering change while embedding ESG considerations into its business and investment decisions. As one of the only African American, female majority-owned and -led CRE and multifamily investment and lending platforms in the U.S., Basis is a testament to the positive impact generated by a thoughtful and intentional approach to diversity, equity, and inclusion. Basis has implemented significantly increased due diligence, risk analysis, and environmental, social, and governance (ESG) reporting processes to provide greater transparency for all Basis clients and stakeholders, further solidifying the company as a forward-looking change agent within the industry.
“Basis brings a diversified reach and commitment to the workforce and affordable housing space, making them a great partner for Fannie Mae,” said Michele Evans, Fannie Mae’s Executive Vice President and Head of Multifamily. “In addition to Basis’ extensive multifamily track record and institutional platform, Fannie Mae recognizes the unique lens that Basis brings as a diverse lender and we are proud to welcome them to our roster of lending relationships.”
Fannie Mae, a leading provider of financing for the multifamily market, supports affordable multifamily housing by providing financing for acquisition or refinance of individual properties or groups of properties.
Furthermore, Fannie Mae provides financing to the commercial mortgage market by acquiring multifamily loans primarily from its national network of DUS lender partners. These loans are secured by several types of multifamily properties with five or more individual units, including apartment buildings, manufactured housing communities, seniors housing, dedicated student housing, military housing, and cooperatives. Fannie Mae securitizes those loans into Fannie Mae DUS Mortgage-Backed Securities (MBS) and enables the lenders to auction the securities to the market. In addition, Fannie Mae participates in the secondary market, buying and selling DUS MBS and enabling investors to create structured securities backed by DUS MBS.
About Basis Investment Group
Basis Investment Group is a diversified commercial real estate investment platform investing across the capital stack throughout the United States. With representation in New York, Chicago, Dallas, Tampa and Irvine, CA, Basis has successfully closed over $5 billion in transactions across multiple strategies and asset classes focusing across the US middle market.
Basis, focuses primarily on investments in the middle market where it has deep relationships. Basis is a registered investment advisor and lender that invests in both debt and equity strategies including fixed rate senior mortgage loans, agency multifamily loans, bridge loans, mezzanine loans, preferred equity, structured equity, JV equity and B-piece investments. Basis manages capital in debt and equity strategies for some of the largest public pension plans, sovereigns and family offices in the country. For more information, please visit www.basisinvgroup.com.
