Fannie Mae has approved a new underwriter for debt securities. Multi-Bank Securities, Inc. (MBS), recently announced that it has now been added as part of Fannie's Access program.
Michigan-based MBS operates as a fixed-income securities broker-dealer, and the company serves credit unions, banks, municipalities, and other institutions around the U.S. Through its underwriting activities, MBS also provides wholesale deposits to various financial institutions.
Commenting on MBS' addition to Fannie's Access program, the company's founder and CEO, Dave Maccagnone, said, ""Fannie Mae securities and other U.S. Agency bonds are important components in the portfolios of credit unions, municipalities, counties, special districts and banks who are our clients. This is an important step in the growth of Multi-Bank Securities, because it gives our clients more direct access to these securities.""
MBS' president, Michael Drews, echoed Maccagnone's positive statements, adding, ""Although we have always offered Fannie Mae securities to clients, the underwriting approval allows us to customize specific bond structures to meet our clients' specific investment requirements. This designation compliments the services we already provide our clients and enhances our ability to expand our distribution.""