BIRMINGHAM, AL—Regions Bank, the primarybanking subsidiary of Regions FinancialCorporation, has been approved as a Fannie MaeDelegated Underwriting and Servicing (DUS) lender andacquired a DUS servicing portfolio totaling approximately$1 billion.

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The Fannie Mae DUS approval complementsRegions' existing real estate banking and capital marketscapabilities and will allow the bank to provide long-term, flexiblefinancing solutions to support multifamily housing clientsnationwide.

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“Multifamily housing continues to be an important and growingsector of the real estate market and permanent, flexible financingfor completed developments is critically important to increasingboth the availability and affordability of housing,” saidJohn Turner, head of Regions' CorporateBank. “Regions Bank is pleased to now be one of the24 Fannie Mae designated DUS lenders in the US.This capability is a significant addition to the bank's existingsuite of debt capital products to meet the needs of real estatebanking clients.”

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The Fannie Mae DUS program is a unique risk-sharingmodel that provides liquidity to the multifamily housingmarket. Fannie Mae relies primarily on the DUS network of financialinstitutions and independent mortgage lenders to execute itsmultifamily business. Fannie Mae and its lender partners haveprovided more than $300 billion in liquidity tothe mortgage market to finance more than 6.3 million units ofmultifamily housing since the DUS program was launched in1988.

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“We are very excited to welcome Regions Bank as our newestFannie Mae DUS lender. Our partnership with our lenders is the keyto the success of Fannie Mae's Multifamily DUS Program and webelieve Regions has the commercial real estate knowledge andexperience to make this partnership successful,” saidHilary Provinse, senior vice president ofMultifamily Customer Engagement.

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Beekman Advisors assisted Regions Bank andadvised on the transaction. Terms of the agreement were notdisclosed.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.