Northmarq’s Jay Donaldson elected chair of Fannie Mae’s DUS Advisory Council
DALLAS (Oct. 1, 2025) — Northmarq is proud to announce that Jay Donaldson, president of Agency and FHA Finance, has been elected chair of Fannie Mae’s Delegated Underwriting and Servicing (DUS) Advisory Council. The Council comprises 10 senior representatives from leading DUS lenders, who elect the chair and vice chair to represent the collective voice of the DUS lender community.
The Council plays a critical role in providing market insights to Fannie Mae and the Federal Housing Finance Agency (FHFA). DUS lenders operate in every market across the country, financing rental housing and engaging directly with communities and clients. The Council ensures that feedback from these interactions informs Fannie Mae’s multifamily strategy and helps shape financing solutions that address the nation’s housing needs. The DUS platform supports a broad spectrum of multifamily housing, including conventional, affordable, manufactured, student, senior, and build-to-rent properties.
“It’s a tremendous honor to be elected to this position and to be entrusted by my peers to lead this group,” said Donaldson, who served as vice chair of the Council for the past two years. “This role is the culmination of my 27 years in the industry, building relationships across every facet of our business. I’ve seen past chairs lead with distinction, and I’m committed to continuing their legacy of service to the DUS lender network.”
As president of Agency and FHA Finance at Northmarq, Donaldson focuses on expanding the company’s multifamily lending capabilities across Agency, FHA, and proprietary platforms. Over his career, he has held leadership roles across a range of commercial real estate finance products, including CMBS, bridge, mezzanine, and preferred equity.
“Housing is a foundational element of both the economy and everyday life,” Donaldson added. “The U.S. faces a significant housing shortage, which has driven costs to unprecedented levels. We have a real opportunity to address this crisis. I’m excited to work with fellow DUS lenders to provide timely, candid feedback to Fannie Mae and the FHFA, and to collaborate on solutions that expand housing supply and meet rental demand nationwide.”
In addition to this appointment, Donaldson serves on Northmarq’s Executive Committee. He is a member of the Steering Committee for the Mortgage Bankers Association’s Political Action Committee, MORPAC, where he previously served as vice chair. He also chaired the MBA’s Multifamily Committee.