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Fannie Mae Lenders Battle for Market Share

Published Saturday, November 01, 2003

Competition for business among Fannie Mae lenders is heating up now that Wachovia, GMAC Commercial Mortgage Corp. and other large financial institutions have begun to enter the low-interest loan program in an effort to boost origination volumes. GMAC, which didn't become a major DUS lender until 2001, and Wachovia, which is finalizing the purchase of two delegated underwriting and servicing (DUS) lenders, are poised to challenge the perennial Fannie Mae lending powerhouses. “The trend of larger financial institutions buying DUS lenders is going to continue,” says Peter Donovan, CEO of Boston-based Berkshire Mortgage Finance, the No. 1 DUS ...

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