CBRE becomes Fannie Mae DUS lender.

Los Angeles-based CB Richard Ellis Group Inc. (CBRE) announced that the Multi-Housing Group within its Capital Markets business has become a Fannie Mae DUS lender.

Fannie Mae DUS lenders are approved to originate, underwrite, close and service loans without prior approval by Fannie Mae. Fannie Mae delegates the underwriting of these loans to the DUS lenders. CBRE is now one of a select group of approved DUS lenders.

"Fannie Mae is pleased to have a company as well-respected and experienced as CBRE join our DUS program," said Phil Weber, Fannie Mae's senior vice president of multifamily. "We look forward to partnering with CBRE to expand the supply of affordable rental housing."

Adding Fannie Mae DUS to CBRE's service offering allows the Capital Markets platform to provide CBRE's clients the full benefit of both GSE lending sources, according to Ron Halpern, managing director of CBRE's Multi-Housing Group.

"We can consistently offer our clients [some] of the best-priced, most cost-effective financing available through an efficient in-house underwriting and closing process," said Halpern.

Halpern is responsible for overseeing the production, underwriting and closing of CBRE loans under the Fannie Mae DUS program. He also assists in the oversight of the day-to-day operations of CBRE's Multi-Housing Group and spearheads the company's HUD/FHA initiative.

Halpern said he will be joined in CBRE's Fannie Mae DUS initiative by two recent additions to the CBRE team: industry veterans Don Brais, who will be responsible for the credit quality and investor compliance for the Fannie Mae DUS loans, and Kyle Draeger, who will oversee marketing and transaction structuring of these loans.