Erika Morphy is co-editor of Debt and Equity Journal, from whichthis article is excerpted.

Washington, DCFannie Mae recently introduced newregulations designed to reduce waiver requests from lenders. Inessence, it transferred many of the decisions it formerly made inunderwriting transactions to delegated underwriting and servicing(DUS) lenders.

The new regs, says Colin Whittier, vice president of KeyBankReal Estate Capital in Dallas, “will allow us to quote a lotmore deals in a shorter period of time.” Whittier says Fannie andFreddie Mac looked at deals in 2006 and the first half of2007 on a case-by-case basis. “Lenders would have to come to themand say, 'I want to win this deal and XYZ conduit is quoting itthis way. I need to match it.' Fannie would most likely agree, or,occasionally, not,” he explains.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.