News Release

November 03, 2017

Fannie Mae Prices $1.19 Billion Multifamily DUS REMIC (FNA 2017-M13) Under Its GeMS Program

Matthew Classick

202-752-3662

WASHINGTON, DC – Fannie Mae (FNMA/OTC) priced its eleventh Multifamily DUS® REMIC in 2017 totaling $1.19 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on November 1, 2017.

“With the FNA 2017-M13 this week, we continue to build on our early success with Green CMBS offerings; the Group 3 A1, A2, and X tranches are all backed by Fannie Mae’s 10-year, fixed-rate Green MBS collateral," said Dan Dresser, Vice President, Multifamily Capital Markets, Trading & Credit Pricing. “This is Fannie Mae’s third GeMS deal with a Green-only collateral group included. Strong interest from our traditional DUS investors and a new community of socially responsible investors helped to drive spreads tighter across the entire deal.”

All classes of FNA 2017-M13 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:

ClassOriginal FaceWeighted Average LifeCoupon (%)Coupon TypeSpreadOffered Price
FA1 $60,506,518 6.24 1.868 Floater/AFC L+63 99.88
FX1 $60,506,518 0.66 0.578 WAC IO Not Offered Not Offered
FA $365,381,297 6.44 1.638 Floater/AFC L+40 99.89
FX $365,381,297 0.75 0.429 WAC IO Not Offered Not Offered
A1 $63,402,000 6.21 2.746 Fixed S+40 101.00
A2 $700,656,131 9.73 2.938 WAC S+55 100.87
X $63,402,000 6.19 0.192 WAC IO Not Offered Not Offered
Total $1,189,945,946          

 

Group 1 Collateral

UPB $60,506,518
Collateral 7 Fannie Mae DUS MBS
Geographic Distribution CA (78.2%), FL (8.9%), CO (7.2%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.35x
Weighted Average
Loan-to-Value (LTV)
68.8%

 

Group 2 Collateral

UPB $365,381,297
Collateral 41 Fannie Mae DUS MBS
Geographic Distribution TX (26.6%), GA (17.0%), FL (14.2%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
2.33x
Weighted Average
Loan-to-Value (LTV)
72.2%

 

Group 3 Collateral

UPB $764,058,131
Collateral 40 Fannie Mae Green DUS MBS
Geographic Distribution FL (23.6%), FL (17.9%), WA (13.6%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.54x
Weighted Average
Loan-to-Value (LTV)
68.3%
Settlement Date November 29, 2017
Lead Manager Amherst Pierpont Securities
Co-Managers Citigroup
J.P. Morgan
CastleOak Securities L.P.

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2017-M13) available on the Fannie Mae GeMS Archive page http://www.fanniemae.com/portal/jsp/mbs/mbsmultifamily/gems_archive.html.

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.