Fannie Mae Prices $705.9 Million Multifamily DUS REMIC (FNA 2018-M4) Under Its GeMS Program

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Apr 16, 2018, 09:30 ET

WASHINGTON, April 16, 2018 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its fourth Multifamily DUS^® REMIC in 2018 totaling $705.9 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on April 10, 2018.

"The M4 was another milestone in our Green Financing program," said Dan Dresser, Vice President, Multifamily Capital Markets, Trading & Credit Pricing. "This deal brings our Green GeMS total to $5 billion. The GeMS program supports a liquid secondary market for Fannie Mae Green MBS – enabling more borrowers to make property improvements that reduce the energy or water consumption of their asset, decrease their expenses and the utility expenses of their tenants, and reduce the drain on natural resources – all while providing investors with a high-quality investment option."

All classes of FNA 2018-M4 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 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	$80,000,000	6.79	2.942	WAC	S+38	98.9
A2	$625,926,099	9.77	3.042	WAC	S+57	97.6
X	$80,000,000	6.69	0.100	FIX/IO	Not Offered	Not Offered
Total	$705,926,099

Group 1 Collateral

UPB:	$705,926,100
Collateral:	36 Fannie Mae DUS Green MBS
Geographic Distribution:	FL (26.4%), TX (21.3%), LA (11.3%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.52x
Weighted Average
Loan-to-Value (LTV):	68.8%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2018-M4) available on the Fannie Mae GeMS Archive page http://www.fanniemae.com/portal/jsp/mbs/mbsmultifamily/gems_archive.html.

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 helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.

SOURCE Fannie Mae