Fannie Mae Prices $1.19 Billion Multifamily DUS REMIC Under Its Fannie Mae GeMS™ Program

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Jan 18, 2013, 05:31 ET

WASHINGTON, Jan. 18, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its first Multifamily DUS^® REMIC in 2013 totaling $1.19 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on January 17, 2013.

"Participation in FLA 2013-M1 was quite broad, as the January effect has been true to expectations. The book filled very quickly, and interest was strong across the curve. We continue to see particularly high demand for IO," said Kimberly Johnson, Fannie Mae Senior Vice President of Multifamily Capital Markets.

All classes of FNA 2013-M1 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 are included in the table below:

Class	Original Face	Weighted Average Life	Coupon (%)	Coupon Type	Spread	Offered Price
ASQ1	$20,400,000	1.76	0.492	Fixed Rate	S+10	100.00
ASQ2	$576,834,779	3.60	1.074	Fixed Rate	S+16	101.00
X1	$597,234,779	3.54	4.568	WAC IO	Not Offered	Not Offered
A1	$96,369,000	5.62	1.502	Fixed Rate	S+25	101.00
A2	$427,888,395	9.40	2.365	Fixed Rate	S+43	101.00
AB1	$13,129,000	5.62	1.367	Fixed Rate	S+35	99.75
AB2	$58,292,955	9.40	2.386	Fixed Rate	S+60	99.75
X2	$595,679,350	8.28	0.669	WAC IO	J+160	4.74
Total	$1,192,914,129

Group 1 Collateral
UPB:	$597,234,779
Collateral:	92 Fannie Mae 10/9.5 DUS MBS
Geographic Distribution:	CA (42.6%), PA (8.7%), FL (7.7%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.81x
Weighted Average
Loan-to-Value (LTV):	59.9%


Group 2 Collateral
UPB:	$595,679,350
Collateral:	102 Fannie Mae 10/9.5 DUS MBS
Geographic Distribution:	CA (23.9%), TX (13.9%), MD (9.9%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.60x
Weighted Average
Loan-to-Value (LTV):	66.4%


Settlement Date:	January 30, 2013


Lead Manager:	Jefferies
Co-Managers:	Credit Suisse and Goldman Sachs

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2013-M1) available on Fannie Mae's Basics of Multifamily MBS site at www.fanniemae.com.

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.

Fannie Mae enables people to buy, refinance, or rent a home.

SOURCE Fannie Mae