Fannie Mae Prices $975 Million Multifamily DUS REMIC (FNA 2015-M10) Under Its GeMS Program

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Jun 17, 2015, 10:00 ET

WASHINGTON, June 17, 2015 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its sixth Multifamily DUS^® REMIC in 2015 totaling $975 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on June 12, 2015.

"This deal really highlighted the flexibility of the Fannie Mae Multifamily platform," said Josh Seiff, Fannie Mae's Vice President of Capital Markets and Trading. "For borrowers, our MBS execution provides loan structures that other securitized platforms can't match – like the 12-year collateral featured in this deal. The versatility of our GeMS securitization program allows Fannie Mae to match borrower demand for longer-term loans with investor appetite for call-protected, high-quality bonds."

All classes of FNA 2015-M10 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
FA	$488,671,969	3.33	0.434	Floater/	S+25	100
FA	$488,671,969	3.33	0.434	WAC Cap	S+25	100
SA	$488,671,969	3.33	4.975	Inverse IO	Not Offered	Not Offered
A1	$74,165,000	7.24	2.631	Fixed	S+45	99.75
A2	$412,357,071	11.51	3.092	Fixed/AFC	S+65	99
X2	$486,522,071	10.86	0.171	WAC IO	Not Offered	Not Offered
Total	$975,194,040

Group 1 Collateral

UPB:	$488,671,969
Collateral:	109 Fannie Mae DUS MBS
Geographic Distribution:	CA (32.2%), TX (11.7%), WA (11.5%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.71x
Weighted Average
Loan-to-Value (LTV):	63.4%

Group 2 Collateral

UPB:	$486,522,071
Collateral:	44 Fannie Mae DUS MBS
Geographic Distribution:	MD (23.5%), TX (20.8%), IN (11.8%)
Weighted Average
Debt Service Coverage Ratio (DSCR):	1.34x
Weighted Average
Loan-to-Value (LTV):	74.1%

Settlement Date:	June 30, 2015

Lead Manager:	Citigroup Global Markets, Inc.
Co-Managers:	Deutsche Bank Securities
	Amherst Pierpont Securities
	Drexel Hamilton

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2015-M10) 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