Elizabeth H. Kiernat, Attorney

Multifamily Agency Lending

As a lead attorney in Moss & Barnett’s multifamily and commercial real estate finance team, Betsy Kiernat is part of a professional cadre focused on representing lenders nationwide who originate and then sell mortgage loans to Freddie Mac and Fannie Mae

Freddie Mac

Betsy represents Freddie Mac Program Plus® lenders and has helped to close hundreds of Freddie Mac transactions in every product line. These include retained portfolio and capital markets executions (CMEs) targeted affordable housing programs, and seniors housing transactions. These transactions include a variety of borrower entity structures, including:

  • Tenants-in-common
  • Ground leases
  • Preferred equity
  • Partial condominium
  • Investment funds and REITs

With most loans now being pooled and securitized as part of Freddie Mac’s CME product, Betsy focuses on structuring single-purpose entities and examining the many legal issues necessary for compliance with Standard and Poor’s U.S. CMBS Legal and Structured Finance Criteria.  

Fannie Mae

Betsy also serves as counsel on loans originated under Fannie Mae’s Delegated Underwriting and Servicing (DUS)® loan product. 

DUS lenders provide financing for apartment buildings, including conventional, rent-restricted, cooperatives, seniors, student housing, and manufactured housing communities.  She provides representation on a national basis and has developed a proficiency in understanding Fannie Mae’s program requirements and documentation enabling her to close these transactions efficiently and effectively.  

Lender Counsel for Efficient Closings Nationwide  

Betsy has closed Freddie Mac and Fannie Mae loans in the West, Midwest, South, and Southeast regions of the country.  She has built open and cordial relationships with Freddie Mac legal counsel, producers, underwriters, and servicing personnel.  With these connections, Betsy effectively spots issues, solves problems, and closes numerous transactions in a cost-effective manner.