Fannie Mae Priced $736 Million Multifamily DUS REMIC (FNA 2021-M19) Under Its GeMS Program

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Oct 22, 2021, 09:30 ET

WASHINGTON, Oct. 22, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $736 million Multifamily DUS^® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on October 19, 2021. FNA 2021-M19 marks the eleventh Fannie Mae GeMS issuance of 2021.

"As we head into the end of the year and portfolio positions are firming up, we were pleased with the investor response and the quick execution of the M19," said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. "The deal featured more than $730 million in 10-year, call-protected collateral with a weighted average 2.08 debt service coverage ratio (DSCR) representative of the quality of our overall production."

All classes of FNA 2021-M19 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal. The structure details for the multi-tranche offering can be found in the table below:

Class	Original Face	Weighted Average Life	Coupon (%)	Coupon Type	Spread	Offered
Class	Original Face	Weighted Average Life	Coupon (%)	Coupon Type	Spread	Price
A1	$50,000,000	6.93	1.510	Fixed	S+8	100
A2	$502,264,337	9.81	1.799	WAC	S+20	99.59
A3	$184,000,000	9.94	1.640	Fixed	Not Available	Not Available
X	$50,000,000	6.86	0.289	WAC IO	Not Offered	Not Offered
X3	$184,000,000	9.44	0.159	WAC IO	Not Offered	Not Offered
Total	$736,264,337

Group 1 Collateral

UPB:	$736,264,337
Collateral:	52 Fannie Mae DUS MBS
Geographic Distribution:	CA (15.43%), FL (14.75%), TN (10.8%)
Weighted Average Debt Service Coverage Ratio (DSCR):	2.08x
Weighted Average Loan-to-Value (LTV):	60.4%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2021-M19) available on the Fannie Mae GeMS Archive page.

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Certain statements in this release may be considered forward-looking statements within the meaning of federal securities laws. In addition, not all securities will have the characteristics discussed in this release. Before investing in any Fannie Mae issued security, you should read the prospectus and prospectus supplement pursuant to which such security is offered. You should also read our most current Annual Report on Form 10-K and our reports on Form 10-Q and Form 8-K filed with the U.S. Securities and Exchange Commission ("SEC") available on the Investor Relations page of our Web site at www.fanniemae.com and on the SEC's Web site at www.sec.gov.

SOURCE Fannie Mae