Agency Underwriting

As the industry leader in Fannie Mae DUS™ and Freddie Mac Program Plus™ contract underwriting, our staff has performed pre-screen and full underwriting services on thousands of multifamily loans, including affordable, seniors, student and manufactured housing – from small balance to large portfolios.

We are proud to call over half of all Fannie Mae DUS™ Lenders and Freddie Mac Program Plus™ Seller/Services our esteemed clients. With decades of first-hand Fannie Mae DUS™ and Freddie Mac Program Plus™ underwriting experience, our staff prides itself on its expertise in Agency underwriting. Our staff has served as senior underwriters and underwriting managers for many of the top lenders and understands the diverse needs and delicate intricacies of Agency lending. Over our 12-year history, we have performed pre-screen and full underwriting services on over 3,500 Fannie Mae, Freddie Mac and FHA transactions.

With respect to current and historical programmatic guidelines across the full gamut of multifamily product types – including affordable, seniors, small balance, manufactured and student housing – Armada Analytics provides quick, thorough, and accurate pre-screen and full underwriting services.

Sample scope of work

  • Full Loan Underwriting
  • Review sizing and loan structure
  • Critically examine historical cash flows and prepare proforma underwriting in accordance with investor guidelines
  • Investigate and analyze borrower credit, history, and financials
  • Review management company experience and suitability
  • Critically review third party reports
  • Perform site inspection
  • Collect market data, analyze comparables, and interview market participants
  • Identify strengths/weaknesses and mitigates to risks
  • Prepare program waivers
  • Presentation to credit committee and delivery support

Our Expert Contact me today!


Michael Fissette

Senior Vice President



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