Fannie Mae announced a new Sponsor-Dedicated Workforce (SDW) product to create and preserve workforce housing through the company’s network of Delegated Underwriting and Servicing (DUS®) lenders. The SDW product will be offered to borrowers who agree to preserve or create a minimum of 20 percent of units in a multifamily property at levels affordable to residents earning between 80 percent area median income (AMI) or, in certain cost-burdened designated metro areas, up to 100 to 120 percent AMI. The rent restrictions will be documented in the loan documents and compliance will be confirmed annually by DUS lender partners.
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