Multifamily Housing Finance

Multifamily Housing Finance is a dynamic industry with continually evolving regulations and program requirements. Lenders are looking for proficient and savvy counsel who can confidently navigate this complex system.

Troutman Sanders’ Multifamily Housing Finance practice is the premier nationwide practice representing lenders in the multifamily finance industry. We focus on counseling mortgage banking clients in origination, sale and servicing of loan transactions sold to secondary market investors — primarily Fannie Mae and Freddie Mac — and other financial institutions and securitization program participants.

We were involved at the inception of Fannie Mae’s Delegated Underwriting and Servicing (DUS) product line in 1988, and have consistently represented the majority of top originating lenders in that program. We similarly established ourselves as the leading law firm representing Freddie Mac Program Plus seller/servicers and have successfully closed and delivered thousands of Freddie Mac’s securitized capital markets execution (CME) loans since that program’s genesis in 2009.

With 29 full-time, dedicated lawyers in the multifamily practice, we have handled some of the industry’s most significant transactions. Examples include eight of the largest multifamily-apartment portfolio financings since 2012, each of which had an aggregate loan amount in excess of $1 billion. During that same time period, the practice has handled more than 6,300 loan and servicing transactions, in every U.S. state, with a volume in excess of $92 billion. In 2015 alone, the practice handled more than 2,300 loan and servicing transactions totaling $37 billion.

We are defined by our experience, capacity, thoughtful approach, diversity and extensive daily involvement in the industry. We work closely with innovators and industry leaders, particularly in the affordable-housing area. Due to our deeply cultivated, enduring relationships with our clients and the legal and business teams supporting government-sponsored enterprises (GSE), all parties involved trust us to handle transactions in a pragmatic and efficient way, consistent with the best interests of the lender. Our work includes transaction structuring, review, issue resolution and closing. We also provide advice along a broad spectrum of legal and business transactional, servicing and compliance issues.

We are strong advocates for the lender’s positions. Our industry knowledge, command of specialized program requirements, and collaborative work ethic regularly attract assignments with repeat borrowers and their counsel, some of whom we have worked with on hundreds of transactions.

Several of our partners have more than 25 years of experience in multifamily housing finance; one partner was in-house counsel at Freddie Mac and another at Fannie Mae. Our lawyers work as a team with experienced, highly trained staff. We have an MBA-level practice manager who focuses primarily on client service.

With a strong technology platform, our team produces transaction documents efficiently, skillfully handling clients’ work under tight deadlines. When appropriate to meet client needs, the multifamily housing section also draws on the firm’s other core practices, including tax, public finance, real estate, commercial finance, financial restructuring and insolvency, environmental, zoning, corporate and litigation.

Our Experience Includes: