News Release

June 11, 2019

Fannie Mae Prices $805 Million Green Multifamily DUS REMIC (FNA 2019-M9) Under Its GeMS Program

Matthew Classick

202-752-3662

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) priced its second Green Multifamily DUS® REMIC in 2019 totaling $805 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on June 6, 2019.

“The M9 marks Fannie Mae’s 10th GeMS deal backed by Green MBS collateral – bringing our total structured Green REMIC issuance to $8 billion,” said Dan Dresser, Vice President, Multifamily Capital Markets, Trading & Credit Pricing. “We continue to offer socially responsible investors opportunities at different points on the yield curve. This is the first Green deal to include the more call-protected A3 tranche.”

Fannie Mae’s Multifamily Green Financing Business provides financing through several different Green product offerings, encouraging apartment building owners to make energy and water savings improvements to their properties. In addition, the Fannie Mae Green Financing Business provides financing to properties holding a third-party, Fannie Mae-approved, Green Building Certification. Fannie Mae introduced the Green MBS product to the market in 2012 and has issued over $56 billion in Green MBS since the program’s inception. Read more about it here: https://www.fanniemae.com/multifamily/green-initiative

“Fannie Mae has been at the forefront of Green Bonds since 2012 with rigorous standards and industry-leading reporting,” said Chrissa Pagitsas, Vice President, Enterprise Environmental, Social, Governance. “The M9 is our first Green GeMS deal since the publication of our inaugural Green Bond Impact Report, which highlights the projected environmental and social impact from our issuances, including the improvement of over 550,000 rental units through energy and water efficiency measures.”

All classes of FNA 2019-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 can be found in the table below:

Class Original Face Weighted Average Life Coupon (%) Coupon Type Spread Offered Price
A1 $57,700,000 6.59 2.610 FIX S+49 101.00
A2 $547,594,779 9.53 2.937 FIX S+63 102.00
A3 $200,000,000 9.88 2.903 FIX S+59 102.00
X $605,294,779 8.79 0.694 WAC IO Not offered Not offered
X3 $200,000,000 9.38 0.697 WAC IO Not Offered Not Offered
Total $805,294,779          

 

Group 1 Collateral

UPB $805,294,779
Collateral 55 Fannie Mae Green DUS MBS
Geographic Distribution TX (37.0%), CA (15.4%), GA (6.0%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.37x
Weighted Average
Loan-to-Value (LTV)
69.2%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2019-M9) 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.comand follow us on twitter.com/fanniemae.