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Press Release

Fannie Mae Prices $976.5 Million Multifamily DUS REMIC (FNA 2014-M1) Under Its Fannie Mae GeMS Program

January 9, 2014

Katherine Constantinou

202-752-5403

WASHINGTON, D.C. – Fannie Mae (FNMA/OTC) priced its first Multifamily DUS® REMIC in 2014 totaling $976.5 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on January 9, 2014.

“January is a busy month to bring a deal,” said Josh Seiff, Fannie Mae Director of Multifamily Capital Markets. “We were pleased to get good focus from the investor community ahead of the year's big conferences.  We're looking forward to a strong 2014 for the GeMS program.”

All classes of FNA 2014-M1 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 included in the table below:

Class

Original Face

Weighted Average Life

Coupon (%)

Coupon Type

Spread

Offered

Price

ASQ1

$50,000,000

3.48

1.3880

Fixed

S+18

100.00

ASQ2

$429,866,013

4.74

2.3230

Fixed/AFC

S+34

101.00

X1

$479,866,013

4.12

3.0964

WAC IO

Not offered

Not offered

A1

$102,940,000

4.89

2.3250

Fixed

S+50

100.00

A2

$393,658,399

9.38

3.3958

WAC

S+58

 98.00

Total

$976,464,412

 

 

 

 

 

Group 1 Collateral

UPB:                                                                             $479,866,013
Collateral:                                                                   85 Fannie Mae DUS MBS
Geographic Distribution:                                         CA (23.98%), NY (15.65%), FL (8.33%)
Weighted Average
Debt Service Coverage Ratio (DSCR):                 1.80x
Weighted Average
Loan-to-Value (LTV):                                                59.8%

Group 2 Collateral

UPB:                                                                             $496,598,399
Collateral:                                                                   140 Fannie Mae DUS MBS
Geographic Distribution:                                         TX (17.42%), CA (15.74%), IL (7.57%)
Weighted Average
Debt Service Coverage Ratio (DSCR):                 1.91x
Weighted Average
Loan-to-Value (LTV):                                                66.1%
Settlement Date:                                                       January 30, 2014 

Lead Manager:                                                          Bank of America Merrill Lynch
Co-Managers:                                                            Credit Suisse and BNP Paribas

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2014-M1) 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 a home.

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