Fannie Mae Prices $789 Million Multifamily DUS REMIC Under Its Fannie Mae GeMS™ Program

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Jul 12, 2012, 03:06 ET

WASHINGTON, July 12, 2012 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its fifth Multifamily DUS REMIC in 2012 totaling $789 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on July 12, 2012.

"Investor participation in this month's deal was particularly strong. The grouped collateral structure offered bonds ranging from three-year to ten-year maturities, attracting new cross-over investors into GeMS. Activity in the Agency CMBS market remains strong as we head into the second half of the year," said Kimberly Johnson, Fannie Mae Vice President of Multifamily Capital Markets.

All classes of FNA 2012-M8 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	$68,000,000	3.41	1.166	Fixed Rate	S+25	101.00
ASQ2	$186,507,000	5.40	1.520	Fixed Rate	S+40	101.00
ASQ3	$235,899,128	6.58	1.801	Fixed Rate	S+50	101.00
X1	$490,406,128	5.23	Not Offered	Interest Only	Not Offered	Not Offered
A1	$48,800,000	5.37	1.539	Fixed Rate	S+42	101.00
A2	$213,765,920	9.75	2.349	Fixed Rate	S+65	101.00
AB1	$6,647,591	5.37	1.362	Fixed Rate	S+49	99.75
AB2	$29,154,963	9.75	2.305	Fixed Rate	S+75	99.75
X2	$298,368,474	8.53	Not Offered	Interest Only	Not Offered	Not Offered
Total	$788,774,602

Group 1 Collateral
UPB :	$490,406,128
Collateral:	91 Fannie Mae DUS MBS
Geographic Distribution:	CA (27.5%), FL (10.9%), NY (9.2%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.61x
Weighted Average
Loan-to-Value (LTV):	68.0%

Group 2 Collateral
UPB :	$298,368,474
Collateral:	56 Fannie Mae 10/9.5 DUS MBS
Geographic Distribution:	CA (17.3%), TX (12.9%), AZ (10.1%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.63x
Weighted Average
Loan-to-Value (LTV):	69.0%

Settlement Date:	July 30, 2012

Lead Manager:	Citigroup
Co-Managers:	Amherst and RBS

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2012-M8) 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