Fannie Mae Qualifies Mutual of Omaha Bank as a Bank Partner for AD&C Lending Program

Omaha, Neb. – (February 11, 2010) Fannie Mae, one of the largest investors in the U.S. housing and mortgage markets, recently approved Mutual of Omaha Bank as a lead bank partner for its Acquisition, Development and Construction (AD&C) financing program. The designation means that Mutual of Omaha Bank may be eligible to partner with Fannie Mae on new loans originated by Mutual of Omaha Bank for existing multifamily acquisitions along with new multifamily development and construction projects.

As a bank partner for Fannie Mae's AD&C program, a secondary market program in which Fannie Mae buys participation interests in construction loans originated by its lending partners, Mutual of Omaha Bank is evaluating opportunities to finance projects in major metropolitan markets nationwide in the multifamily, student housing and senior housing sectors. For multifamily loans, the bank is considering market rate and affordable housing projects. For student housing loans, the bank is evaluating projects at full-time undergraduate institutions with more than 20,000 students.

"We're proud to be approved as a bank partner for Fannie Mae's AD&C program," said Dwayne Sieck, Senior Vice President and Director of Real Estate Lending at Mutual of Omaha Bank. "We've already closed our first AD&C loan and look forward to partnering with Fannie Mae to provide capital for other high quality multifamily projects nationwide."

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 ranked among the Fortune 500 with more than $22 billion in total assets and high ratings from leading ratings agencies. For more information about Mutual of Omaha Bank, visit www.mutualofomahabank.com.