Zions acquires Fannie Mae and Freddie Mac business from Basis Investment

Zions Bancorporation NA, a Salt Lake City bank holding company, has agreed to acquire the agency lending business of Basis Multifamily Finance I LLC, a subsidiary of New York City-based Basis Investment Group. 

The acquisition includes the Basis team, access to agency lending programs and all associated mortgage servicing rights. In connection with the acquisition, Zions and Basis have entered into a strategic partnership that will expand each company’s real estate financing and capital formation efforts. 

“The acquisition of Basis’ agency lending business will strategically expand our capabilities to meet the needs of our commercial real estate customers,” said Harris Simmons, chairman and CEO of Zions Bancorporation. “This is a natural, customer-driven evolution of our capital markets strategy, which continues to be a meaningful growth engine for the company. It also reinforces our commitment to supporting economic development, particularly in the high-growth western markets we serve, where housing availability and affordability create strong demand for multifamily housing. We look forward to working with Tammy Jones and the entire Basis team.”

“This transaction is a great result for all stakeholders, enabling the agency platform to scale while driving financing and investment activity across Basis’ diversified funds platform through our ongoing partnership with Zions,” said Tammy K. Jones, CEO and founder of Basis. “Our shared commitment to workforce and affordable housing serves as a powerful foundation for long-term success. I’m excited for what comes next and to seeing the agency business reach its full potential under Zions’ ownership.”

By acquiring Basis’ agency lending business, Zions will be able to offer its clients an expanded product suite through its participation in a variety of important lending programs, including the Fannie Mae DUS program, and the Freddie Mac Optigo Conventional and Small Balance Loan programs, Zions explained in a release.

The acquisition is subject to customary closing conditions and certain third-party approvals, including approval by Fannie Mae and Freddie Mac. Terms of the acquisition were not disclosed.

Zions Bancorporation has approximately $89 billion of total assets and annual net revenue of $3.4 billion in 2025. Zions operates distinct brands in 11 western states with more than 10,000 employees.