News Release

May 10, 2017

Fannie Mae Prices $763.0 Million Multifamily DUS REMIC (FNA 2017-M5) Under Its GeMS Program

Matthew Classick

202-752-3662

WASHINGTON, DC – Fannie Mae (FNMA/OTC) priced its fifth Multifamily DUS® REMIC in 2017 totaling $763.0 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on May 9, 2017.

“We saw great investor response on both shorter, floating-rate bonds and 12-year, fixed-rate bonds in this deal,” said Josh Seiff, Fannie Mae’s Vice President of Capital Markets and Trading. “More than 40 accounts bought bonds. This kind of execution really highlights the ability of the Fannie Mae DUS platform to match borrower needs with investor demand across the yield curve.”

All classes of FNA 2017-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

FA1

$16,979,530

6.26

1.665

Floater/AFC

Not Offered

Not Offered

FA2

$43,203,985

6.24

1.665

Floater/AFC

Not Offered

Not Offered

FA3

$74,834,075

6.26

1.665

Floater/AFC

67 DM

99.90

FX1

$135,017,590

0.66

0.632

WAC IO

Not Offered

Not Offered

FA

$231,842,340

6.46

1.525

Floater/AFC

49 DM

99.90

FX

$231,842,340

0.80

0.611

WAC IO

Not Offered

Not Offered

A1

$60,938,000

7.29

2.727

Fixed/AFC

S+53

100.00

A2

$335,224,697

11.70

3.306

WAC

S+72

101.00

Total

$763,022,627

 

 

 

 

 

 

Group 1 Collateral

UPB $135,017,590
Collateral 19 Fannie Mae DUS MBS
Geographic Distribution CO (32.0%), FL (20.4%), CA (11.4%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.57x
Weighted Average
Loan-to-Value (LTV)
74.5%

 

Group 2 Collateral

UPB $231,842,340
Collateral 29 Fannie Mae DUS MBS
Geographic Distribution TX (37.6%), FL (15.8%), IN (11.4%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
2.10x
Weighted Average
Loan-to-Value (LTV)
73.7%

 

Group 3 Collateral

UPB $396,162,697
Collateral 33 Fannie Mae DUS MBS
Geographic Distribution TX (18.0%), WA (15.1%), NJ (11.5%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.32x
Weighted Average
Loan-to-Value (LTV)
73.9%

 

Settlement Date May 31, 2017
Lead Manager Amherst Pierpont Securities
Co-Managers Citigroup
KGS-Alpha Capital Markets
Multi-Bank Securities

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2017-M5) 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.