News Release

April 12, 2017

Fannie Mae Prices $855.8 Million Multifamily DUS REMIC (FNA 2017-M4) Under Its GeMS Program

Matthew Classick

202-752-3662

WASHINGTON, DC – Fannie Mae (FNMA/OTC) priced its fourth Multifamily DUS® REMIC in 2017 totaling $855.8 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on April 11, 2017.

“We kicked off the second quarter with a $900 million 10-year GeMS deal, which built on the first quarter’s $3.1 billion in issuance,” said Josh Seiff, Fannie Mae’s Vice President of Capital Markets and Trading. “The GeMS program is about matching investor demand with borrowers' liquidity needs.  The investor market has been pretty calm lately, but there’s still consistent demand for well-diversified, block-sized deals.”

All classes of FNA 2017-M4 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

A1

$95,999,942

5.97

2.597

WAC

S+43

100.95

A2

$759,850,000

9.66

2.597

WAC

S+65

97.81

Total

$855,849,942

 

 

 

 

 

 

Collateral Summary

UPB $855,849,942
Collateral 54 Fannie Mae DUS MBS
Geographic Distribution CA (25.7%), GA (11.4%), FL (10.5%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.59x
Weighted Average
Loan-to-Value (LTV)
68.7%

 

Settlement Date April 28, 2017
Lead Manager Credit Suisse
Co-Managers BofA Merrill Lynch
Morgan Stanley
Academy Securities

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2017-M4) 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.