Fannie Mae Prices $1.4 Billion Multifamily DUS REMIC Under Its Fannie Mae GeMS™ Program

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Aug 09, 2012, 02:55 ET

WASHINGTON, Aug. 9, 2012 /PRNewswire/ -- On August 9, 2012, Fannie Mae (OTC Bulletin Board: FNMA) priced FNA 2012-M9, totaling $1.4 billion, its sixth Multifamily DUS REMIC in 2012 under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS^™) program.

"Strong demand across the curve helped clear this deal quickly. We increased the size of 2012-M9 to accommodate a seasoned collateral group in addition to the standard new origination 10-year collateral," said Kimberly Johnson, Fannie Mae Vice President of Multifamily Capital Markets.

All classes of FNA 2012-M9 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	$75,000,000	3.96	0.978	Fixed Rate	S+23	100
ASQ2	$567,530,081	5.24	1.513	Fixed Rate	S+30	101
X1	$642,530,081	4.62	4.297	Interest Only	Not Offered	Not Offered
A1	$118,855,000	5.28	1.553	Fixed Rate	S+33	101
A2	$574,627,235	9.53	2.482	Fixed Rate	S+60	101
AB1	$16,207,000	5.28	1.372	Fixed Rate	S+40	99.75
AB2	$78,358,760	9.53	2.434	Fixed Rate	S+70	99.75
X2	$788,047,995	8.39	.0897	Interest Only	Not Offered	Not Offered
Total	$1,430,578,076


Group 1 Collateral
UPB:	$642,530,082
Collateral:	87 Fannie Mae 10/9.5 DUS MBS
Geographic Distribution:	CA (19.9%), MD (11.5%), OK (8.7%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.76x
Weighted Average
Loan-to-Value (LTV):	64.02%

Group 2 Collateral
UPB:	$788,047,995
Collateral:	102 Fannie Mae 10/9.5 DUS MBS
Geographic Distribution:	TX (31.6%), TX (12.1%), AZ (11.8%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.82x
Weighted Average
Loan-to-Value (LTV):	69.4%


Settlement Date:	August 30, 2012


Lead Manager:	J.P. Morgan
Co-Managers:	Bank of America Merrill Lynch and RBS

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2012-M9) 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 Investors page of our Web site at www.fanniemae.com and on the SEC's Web site at www.sec.gov.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

SOURCE Fannie Mae