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Press Release

Fannie Mae Prices $900.95 Million Multifamily DUS REMIC (FNA 2015-M15) Under GeMS Program

November 12, 2015

Katie Penote

202-752-2261

WASHINGTON, D.C. – Fannie Mae (FNMA/OTC) priced its tenth Multifamily DUS® REMIC in 2015 $900.95 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on November 6, 2015.

“With 68 loans in 25 states, a $9M average loan size, a 1.58 average DSCR and a 67% average LTV, the M-15, 10-year collateral group reflected the diversity and solid credit quality that has come to characterize the DUS program,” said Josh Seiff, Fannie Mae’s Vice President of Capital Markets and Trading.  “Fannie Mae’s unique multifamily risk-sharing model consistently generates high-quality collateral in a supply-heavy market.”

All classes of FNA 2015-M15 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

ASQ1

$214,601,000

1.39

0.848

Fixed

E+7

99.88

ASQ2

$90,034,592

2.54

1.898

Fixed

S+31

101.00

X1

$304,635,592

1.35

4.323

WAC IO

Not Offered

Not Offered

A1

$65,043,000

5.72

2.623

Fixed

S+62

101.00

A2

$459,715,000

9.73

2.923

Fixed / AFC

S+80

99.24

AB1

$8,870,000

5.72

2.383

Fixed

S+62

99.75

AB2

$62,688,668

9.73

2.980

WAC

S+86

99.60

X2

$596,316,668

8.80

0.092

WAC IO

Not Offered

Not Offered

Total

$900,952,260

 

 

 

 

 

 

Group 1 Collateral

UPB $304,635,592
Collateral 117 Fannie Mae DUS MBS
Geographic Distribution NY (44.1%), CA (10.2%), FL (6.2%)
Weighted Average
Debt Service Coverage Ratio (DSCR)		 1.57x
Weighted Average
Loan-to-Value (LTV)		 45.6%

 

Group 2 Collateral

UPB $596,316,668
Collateral 67 Fannie Mae DUS MBS
Geographic Distribution CA (22.8%), FL (16.8%), VA (10.0%)
Weighted Average
Debt Service Coverage Ratio (DSCR)		 1.58x
Weighted Average
Loan-to-Value (LTV)		 66.9%

 

Settlement Date November 30, 2015
Lead Manager Goldman, Sachs & Co.
Co-Managers BofA Merrill Lynch
Jefferies
Loop Capital Markets

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2015-M15) available on the Fannie Mae GeMS Archive page on www.fanniemae.com.

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 enables people to buy, refinance, or rent homes.

Visit us at: https://www.fanniemae.com.

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