Fannie Mae Prices $800.5 Million Multifamily DUS REMIC (FNA 2018-M1) Under Its GeMS Program

WASHINGTON, Jan. 5, 2018 /PRNewswire/ -- Fannie Mae (FNMA/OTC) priced its first Multifamily DUS^® REMIC in 2018 totaling $800.5 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on January 3, 2018.

"We kicked the year off early with the $800 million M1 transaction this week, building on the momentum of 2017," said Dan Dresser, Vice President, Multifamily Capital Markets, Trading & Credit Pricing. "Fannie Mae's Multifamily business saw a banner year in 2017, issuing more than $65 billion in DUS pools and $12 billion in GeMS REMIC issuance with strong spread levels. We continue to grow the Agency CMBS investor base and plan for another big year in 2018."

All classes of FNA 2018-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 in the table below:

Group 1 Collateral

UPB:                                                                $800,502,721
Collateral:                                                       111 Fannie Mae DUS MBS
Geographic Distribution:                               FL (21.6%), TX (15.4%), PA (5.9%)
Weighted Average
Debt Service Coverage Ratio (DSCR):         1.47x
Weighted Average
Loan-to-Value (LTV):                                      68.4%

Settlement Date:                                            January 30, 2018

Lead Manager:                                               Morgan Stanley
Co-Managers:                                                Goldman Sachs & Co.
                                                                        Amherst Pierpont Securities     
                                                                        Academy Securities

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2018-M1) 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

Related Links

http://www.fanniemae.com