ORLANDO, FL ‐‐ Fannie Mae (FNM/NYSE) today announced that the company, through its lender and housing partners, financed $60 billion in multifamily rental housing in 2007, a multifamily‐industry record for annual production. Fannie Mae's multifamily financing solutions include debt financing through lender partners, investments in Low Income

Housing Tax Credits (LIHTC) through syndication partners, and multifamily bond purchases.

"Fannie Mae is celebrating the 20th anniversary of our DUS® Program, which has been the market leader providing constant and innovative multifamily financing through all market cycles," said Phil Weber, senior vice president of Fannie Mae's Multifamily division. "Our DUS lenders and other partners helped us achieve our biggest and best year ever in 2007.

We expect to have another great year in 2008, as we do exactly what we were created to do ‐‐ provide liquidity, stability and make housing more affordable."

Fannie Mae's DUS lenders delivered $30.3 billion of the company's total investment in multifamily housing. In addition to the total multifamily investment, Fannie Mae committed $1.1 billion in equity investments that qualify for LIHTC.

Approximately 88 percent of the multifamily units financed by Fannie Mae in 2007 are affordable to families at or below the median income of their communities. Fifty‐one percent of all multifamily units financed by Fannie Mae served special affordable families (low‐ and very‐low income families in low‐income areas), and 59 percent of all multifamily loans were made in underserved markets.

In addition to affordability, Fannie Mae focused on addressing the renovation needs of the nation's aging multifamily affordable housing stock in 2007 by making available the Community Investments Mezzanine‐Moderate Rehabilitation (CI Mezz‐Mod Rehab) product. CI Mezz‐Mod Rehab provides a one‐stop financing solution for multifamily properties with moderate to substantial rehabilitation needs by combining a permanent
DUS loan with a mezzanine loan. Fannie Mae financed $180 million in mezzanine loans in 2007, which enabled the company to invest an additional $1.7 billion in DUS permanent loans.