Mutual of Omaha Bank has been approved by Fannie Mae as a lead bank partner for its Acquisition, Development and Construction financing program. The approval means that the Bank is now eligible to partner with Fannie Mae on new loans originated by the bank for existing multifamily acquisitions in addition to new multifamily development and construction projects. Fannie Mae is a bank partner for the Federal National Mortgage Association’s AD&C program. The program is a secondary market program in which Fannie Mae is able to buy participation interests in construction loans originated by its lending partners.
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Mutual of Omaha Bank is a full-service bank providing financial solutions to individuals and businesses in communities across the United States. With more than $4 billion in assets, Mutual of Omaha Bank operates a network of full-service community banks in Arizona, California, Colorado, Florida, Nebraska, Nevada and Texas, and has loan production offices in Iowa and Kansas. It is a subsidiary of Mutual of Omaha, a 100-year-old insurance and financial services company with more than $22 billion in total assets and high ratings from leading ratings agencies.
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