News Release

September 13, 2016

Fannie Mae Prices $1.15 Billion Multifamily DUS REMIC (FNA 2016-M9) Under Its GeMS Program

Katie Penote

202-752-2261

WASHINGTON, DC – Fannie Mae (FNMA/OTC) priced its eighth Multifamily DUS® REMIC in 2016 totaling $1.15 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on September 8, 2016.

“The M9 was able to capture investor attention during this busy first week after summer break, adding seven new investors to the GeMS program,” said Josh Seiff, Fannie Mae’s Vice President of Capital Markets and Trading. “In particular, investors had strong demand for the tranches backed by Fannie Mae’s 10-year fixed-rate paper; in a floater-heavy market, it was the fixed-rate, last-cash-flow bonds that were oversubscribed.”

All classes of FNA 2016-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 in the table below:

Class

Original Face

Weighted Average Life

Coupon (%)

Coupon Type

Spread

Offered
Price

FA

$579,564,135

6.44

1.108

Floater/AFC

L+59

100.00

FX

$579,564,135

0.81

0.495

WAC IO

Not Offered

Not Offered

A1

$60,591,000

5.77

2.003

Fixed

S+56

101.00

A2

$444,364,282

9.62

2.292

Fixed

S+73

101.00

AB1

$8,263,000

5.77

1.800

Fixed

Not Available

Not Available

AB2

$60,595,000

9.62

2.217

Fixed

Not Offered

Not Offered

X2

$573,813,282

8.72

0.450

WAC IO

Not Offered

Not Offered

Total

$1,153,377,417

 

 

 

 

 

 

Group 1 Collateral

UPB $579,564,136
Collateral 61 Fannie Mae DUS MBS
Geographic Distribution TX (35.6%), GA (15.4%), FL (14.3%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
2.27x
Weighted Average
Loan-to-Value (LTV)
69.4%

 

Group 2 Collateral

UPB $573,813,282
Collateral 70 Fannie Mae DUS MBS
Geographic Distribution CA (34.6%), TX (22.2%), NY (7.2%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.67x
Weighted Average
Loan-to-Value (LTV)
63.8%

 

Settlement Date September 30, 2016
Lead Manager Morgan Stanley
Co-Managers Citigroup
KGS-Alpha Capital Markets
Multi-Bank Securities

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2016-M9) 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 helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.