Fannie Mae Prices $1.4 Billion Multifamily DUS REMIC Under Its Fannie Mae GeMS Program

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News Release

August 09, 2012

Fannie Mae Prices $1.4 Billion Multifamily DUS REMIC Under Its Fannie Mae GeMS Program

Katherine Constantinou

202-752-5403

* Correction: The Geographic Distribution for Group 2 Collateral has been corrected.

WASHINGTON, D.C. – On August 9, 2012, Fannie Mae (FNMA/OTC) priced FNA 2012-M9, totaling $1.4 billion, its sixth Multifamily DUS REMIC in 2012 under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program.

“Strong demand across the curve helped clear this deal quickly.  We increased the size of 2012-M9 to accommodate a seasoned collateral group in addition to the standard new origination 10-year collateral,” said Kimberly Johnson, Fannie Mae Vice President of Multifamily Capital Markets.

All classes of FNA 2012-M9 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

$75,000,000

3.96

0.978

Fixed Rate

S+23

100

ASQ2

$567,530,081

5.24

1.513

Fixed Rate

S+30

101

X1

$642,530,081

4.62

4.297

Interest Only

Not Offered

Not Offered

A1

$118,855,000

5.28

1.553

Fixed Rate

S+33

101

A2

$574,627,235

9.53

2.482

Fixed Rate

S+60

101

AB1

$16,207,000

5.28

1.372

Fixed Rate

S+40

99.75

AB2

$78,358,760

9.53

2.434

Fixed Rate

S+70

99.75

X2

$788,047,995

8.39

.0897

Interest Only

Not Offered

Not Offered

Total

$1,430,578,076

 

 

 

 

 

 

Group 1 Collateral

UPB:                                                               $642,530,082

Collateral:                                                     87 Fannie Mae 10/9.5 DUS MBS

Geographic Distribution:                           CA (19.9%), MD (11.5%), OK (8.7%)

Weighted Average
Debt Service Coverage Ratio (DSCR):         1.76x

Weighted Average
Loan-to-Value (LTV):                                        64.02%

 

Group 2 Collateral

UPB:                                                               $788,047,995

Collateral:                                                     102 Fannie Mae 10/9.5 DUS MBS

Geographic Distribution:                           TX (31.6%), NY (12.1%), IL (11.8%) *

Weighted Average
Debt Service Coverage Ratio (DSCR):         1.82x

Weighted Average
Loan-to-Value (LTV):                                        69.4%

 

Settlement Date:                                             August 30, 2012

 

Lead Manager:           J.P. Morgan     

Co-Managers:             Bank of America Merrill Lynch and RBS

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2012-M9) 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.

Revised: August 15, 2012