Fannie Mae Prices $911.4 Million Multifamily DUS REMIC (FNA 2013-M5) Under Its Fannie Mae GeMS™ Program

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Apr 19, 2013, 03:28 ET

WASHINGTON, April 19, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its fourth Multifamily DUS^® REMIC in 2013 totaling $911.4 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on April 15, 2013.

"In a slight modification of our typical GeMS issuance, 2013-M5 was structured with a series of sequential tranches to meet investor demand on the shorter end of the curve," said Kimberly Johnson, Fannie Mae Senior Vice President of Multifamily Capital Markets.

All classes of FNA 2013-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 included in the table below:

Class	Original Face	Weighted Average Life	Coupon (%)	Coupon Type	Spread	Offered Price
ASQ1	$12,000,000	1.04	0.437	Fixed Rate	E+10	100.00
ASQ2	$453,061,544	2.14	0.595	Fixed Rate	S+20	100.00
X1	$465,061,544	1.60	4.313	WAC IO	Not Offered	Not Offered
ASQ3	$61,200,000	3.82	1.172	Fixed Rate	S+28	101.00
ASQ4	$226,700,000	7.26	1.919	Fixed Rate	S+38	101.00
ASQ5	$158,486,099	8.32	2.207	Fixed Rate	S+47	101.00
X2	$446,386,099	8.32	2.404	WAC IO	J+145	14.66
Total	$911,447,643

Group 1 Collateral
UPB:	$465,061,544
Collateral:	68 Fannie Mae DUS MBS
Geographic Distribution:	CA (30.0%), TX (23.0%), DC (6.5%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.76x
Weighted Average
Loan-to-Value (LTV):	67.3%

Group 2 Collateral
UPB:	$446,386,099
Collateral:	90 Fannie Mae DUS MBS
Geographic Distribution:	CA (34.1%), TX (8.6%), FL (8.3%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.67x
Weighted Average
Loan-to-Value (LTV):	66.3%


Settlement Date:	April 30, 2013

Lead Manager:	Citigroup
Co-Managers:	RBS and Morgan Stanley

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2013-M5) 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 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