Fannie Mae Priced $781 Million Green Multifamily DUS REMIC (FNA 2022-M1G) Under Its GeMS Program

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) priced a $781 million Green Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on February 8, 2022. FNA 2022-M1G marks the second Fannie Mae GeMS issuance of 2022.

“In a week marked by rate volatility and widening spreads, we are pleased with the execution of the M1G,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. “The M1G is backed by two groups of fixed-rate, green MBS collateral – 7-year and 10-year. Through this offering, we are able to provide investors with green investment opportunities across the yield curve.”

Now in the second decade of its Multifamily Green Financing business, Fannie Mae remains committed to generating positive environmental and social impact through its two Multifamily Green products: the Green Building Certification (GBC) program and Green Rewards, an energy- and water consumption-reduction program. Combined, Fannie Mae has issued over $102 billion of Multifamily MBS backed by these financing products. Through the GeMS program, Fannie Mae has re-securitized into REMICs an additional $14 billion backed by Green MBS.

“The 2022-M1G marks our 19th GeMS issuance backed by Green MBS collateral and is the first issued since Fannie Mae reached the $100 billion Green MBS milestone at the end of 2020,” said Lisa Bozzelli, Senior Director, Multifamily Capital Markets. “Through products like our Green Rewards Program, Fannie Mae continues to support the renovation of existing housing stock with energy- and water-efficiency improvements that aim to reduce both the impact of the buildings on the environment and provide cost savings for tenants and borrowers.”

All classes of FNA 2022-M1G 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:

* The spread on FNA 2022-M1G was priced using the SOFR swap curve.

Group 1 Collateral

Group 2 Collateral

For additional information on this transaction, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2022-M1G) available on the Fannie Mae GeMS Archive page.