| Consistently a top Fannie Mae DUS® mortgage lender, Red Mortgage Capital, Inc., underwrites and commits to make permanent mortgage loans on affordable rental housing projects prior to the commencement of construction pursuant to the requirements of the Fannie Mae New Construction Product Line. Red can sell mortgages to Fannie Mae on an expedited, delegated basis upon completion of construction and the satisfaction of certain rent up and other conditions, in exchange for cash (i.e., through a "cash window" delivery), or for Fannie Mae mortgage-backed securities (i.e., through a swap for MBS’s, an "MBS/DUS" transaction). |
