Mutual of Omaha Bank Approved for Fannie Mae’s AD&C Program

""Mutual of Omaha Bank"":http://www.mutualofomahabank.com/west/, based in Omaha, Nebraska, was recently approved as a lead bank partner for ""Fannie Mae's"":http://www.fanniemae.com/kb/index?page=home acquisition, development, and construction (AD&C) financing program, a secondary market program in which Fannie Mae buys participation interests in construction loans originated by its lending partners.

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This designation means the bank may be eligible to partner with Fannie Mae on new loans originated by Mutual of Omaha Bank for existing multifamily acquisitions along with new multifamily development and construction projects.

As a bank partner for the AD&C program, Mutual of Omaha Bank is evaluating opportunities to finance projects in major metropolitan markets nationwide in the multifamily, student housing, and senior housing sectors. The bank is considering market rate and affordable housing projects for multifamily loans, and for student housing loans, the bank is evaluating projects at full-time undergraduate institutions with more than 20,000 students.

""We're proud to be approved as a bank partner for Fannie Mae's AD&C program,"" said Dwayne Sieck, SVP and director of real estate lending at Mutual of Omaha Bank. ""We've already closed our first AD&C loan and look forward to partnering with Fannie Mae to provide capital for other high quality multifamily projects nationwide.""