News Release

October 18, 2019

Fannie Mae Prices a $1.1 Billion Green Multifamily DUS REMIC (FNA 2019-M22) Under Its GeMS Program

Matthew Classick

202-752-3662

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) priced its third Green Multifamily DUS® REMIC in 2019 totaling $1.1 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on October 17, 2019. FNA 2019-M22 marks the ninth Fannie Mae GeMS issuance of 2019.

"The M22 marks Fannie Mae's largest single Green GeMS deal to date at $1.1 billion, bringing our total structured Green REMIC issuance to $9 billion and further supporting our commitment to offering socially responsible investment opportunities," said Dan Dresser, Vice President Capital Markets & Pricing. "The deal reflects the geographical diversity of our Green Financing Program with 15 states represented across the 48 underlying securities. We received solid interest in a busy week with competing transactions – a nice start to the fourth quarter."

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 $68 billion in Green MBS since the program's inception. Read more about it here: https://www.fanniemae.com/multifamily/green-initiative.

All classes of FNA 2019-M22 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 $75,000,000 6.98 2.104 Fixed S+50 100
A2 $701,098,362 9.69 2.522 Fixed S+62 101.99
A3 $332,000,000 9.80 2.482 Fixed S+58 101.99
X1 $776,098,362 8.98 0.5821 WAC IO Not offered Not offered
X3 $332,000,000 9.30 0.5817 WAC IO Not offered Not offered
Total $1,108,098,362          

 

Group 1 Collateral

UPB $1,108,098,363
Collateral 48 Fannie Mae Green DUS MBS
Geographic Distribution GA (22.52%), FL (20.91%), TX (15.38%)
Weighted Average
Debt Service Coverage Ratio (DSCR)
1.56x
Weighted Average
Loan-to-Value (LTV)
68.8%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2019-M22) available on the Fannie Mae GeMS Archive page https://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.