News Release

June 12, 2017

Fannie Mae Prices $985.3 Million Multifamily DUS REMIC (FNA 2017-M7) Under Its GeMS Program

Katie Penote

202-752-2261

WASHINGTON, DC – Fannie Mae (FNMA/OTC) priced its sixth Multifamily DUS® REMIC in 2017 totaling $985.3 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on June 9, 2017.

“The Fannie Mae multifamily platform has originated $21.8 billion through April 2017 and we continue to see strong investor demand for our benchmark 10-year fixed-rate product.” said Josh Seiff, Fannie Mae’s Vice President of Capital Markets and Trading.  “The collateral in this deal is representative of the quality of our overall production, with an LTV below 67% and a debt service coverage ratio of 1.56 times.”

All classes of FNA 2017-M7 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

$120,800,000

5.80

2.595

Fixed

S+46

101.00

A2

$864,530,958

9.58

2.961

Fixed/AFC

S+68

101.00

X

$985,330,958

8.68

0.072

WAC IO

Not Offered

Not Offered

Total

$985,330,958

 

 

 

 

 

 

Group 1 Collateral

UPB $985,330,958
Collateral 86 Fannie Mae DUS MBS
Geographic Distribution CA (28.6%), TX (17.6%), FL (8.7%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.56x
Weighted Average
Loan-to-Value (LTV)
66.6%

 

Settlement Date June 30, 2017
Lead Manager Morgan Stanley
Co-Managers Goldman Sachs
J.P. Morgan
Mischler Financial Group

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2017-M7) 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.