News Release

May 13, 2016

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

Pete Bakel

202-752-2034

WASHINGTON, DC – Fannie Mae (FNMA/OTC) 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.

Fannie Mae enables people to buy, refinance, or rent homes.

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