Fannie Mae has reached an agreement with west-coast bank Washington Mutual, allowing the thrift to do multifamily securitizations of Fannie Mae product upwards of $2.5 million through its "Delegated Underwriting and Servicing" (DUS) program without pre-approval from the GSE.

According to sources, this will mark the first time that the agency has approved and aligned itself with a thrift the size of WaMu for its multifamily DUS program. By selecting WaMu and allowing the large thrift to fall under a new category, the bank will be able to write loans faster and go through the loan-application process more efficiently.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.