Fannie Mae Prices $897.7 Million Multifamily DUS REMIC (FNA 2016-M5) Under Its GeMS™ Program

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May 13, 2016, 09:32 ET

WASHINGTON, May 13, 2016 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its fifth Multifamily DUS® REMIC in 2016 totaling $897.7 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on May 11, 2016.

"The ARM 7-6™ product provides borrowers of all sizes a flexible, competitive, floating rate option," said Josh Seiff, Fannie Mae's Vice President of Capital Markets and Trading. "The average 7-6 Loan size in M5 was just about $7.3 million. Investors like the product too – we've included 7-6 collateral in three out of our last six deals, and demand has been very strong."

All classes of FNA 2016-M5 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 Price
FA	$269,786,207	6.52	1.156	Floater/AFC	L+72	99.92
FX	$269,786,207	0.84	0.595	WAC IO	Not Offered	Not Offered
A1	$72,191,000	5.81	2.073	Fixed	S+63	101.00
A2	$480,410,607	9.82	2.469	Fixed	S+78	101.00
AB1	$9,845,000	5.81	1.871	Fixed	S+66	99.75
AB2	$65,511,000	9.82	2.375	Fixed	S+83	99.74
X2	$627,957,607	8.86	0.542	WAC IO	Not Offered	Not Offered
Total	$897,743,814

Group 1 Collateral

UPB:                                                                $269,786,207
Collateral:                                                       37 Fannie Mae DUS MBS
Geographic Distribution:                                 GA (16.1%), TX (14.9%), SC (13.1%)
Weighted Average
Debt Service Coverage Ratio (DSCR):             2.63x
Weighted Average
Loan-to-Value (LTV):                                       69.6%

Group 2 Collateral

UPB:                                                                $627,743,814
Collateral:                                                       63 Fannie Mae DUS MBS
Geographic Distribution:                                 CA (33.8%), TX (13.4%), GA (6.1%)
Weighted Average
Debt Service Coverage Ratio (DSCR):             1.81x
Weighted Average
Loan-to-Value (LTV):                                       65.0%

Settlement Date: May 31, 2016

Lead Manager:                                                Citigroup
Co-Managers:                                                  Morgan Stanley
                                                                        Amherst Pierpont Securities
                                                                        Loop Capital Markets

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2016-M5) available on the Fannie Mae GeMS Archive page on 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.

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SOURCE Fannie Mae