Fannie Mae Prices $1.02 Billion Multifamily DUS® REMIC (FNA 2013-M9) Under Its Fannie Mae GeMS™ Program

WASHINGTON, June 17, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its sixth Multifamily DUS® REMIC in 2013 totaling $1.02 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on June 12, 2013.

"Recent rate volatility certainly made things challenging, but investor demand remains particularly strong for shorter maturities and support bonds. We will continue to structure deals that provide investment opportunities across the curve and, in turn, strong liquidity for our borrowers," said Josh Seiff, Fannie Mae Director of Multifamily Capital Markets.

All classes of FNA 2013-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 are included in the table below:

 

Class

Original Face

Weighted Average Life

Coupon (%)

Coupon Type

Spread

Offered

Price

ASQ1

$50,500,000

3.33

0.982

Fixed Rate

N+15

100.00

ASQ2

$381,659,343

4.90

1.825

Fixed Rate

N+32

101.00

X1

$432,159,343

4.71

3.540

WAC IO

Not Offered

Not Offered

A1

$89,700,000

5.18

1.976

Fixed Rate

N+40

101.00

A2

$429,500,000

9.55

2.389

Fixed AFC

N+64

95.39

AB1

$12,232,000

5.18

1.661

Fixed Rate

N+50

99.00

AB2

$58,568,199

9.55

2.389

Fixed AFC

N+68

94.79

X2

$590,000,199

8.79

0.078

WAC IO

Not Offered

Not Offered

Total

$1,022,159,542






 

 

Group 1 Collateral


UPB:                                                              

$432,159,343

Collateral:                                                     

74 Fannie Mae DUS MBS

Geographic Distribution:                              

CA (22.6%), NY (9.0%), PA (7.8%)

Weighted Average


Debt Service Coverage Ratio (DSCR):        

1.83x

Weighted Average


Loan-to-Value (LTV):                                     

60.5%



Group 2 Collateral


UPB:                                                              

$590,000,199

Collateral:                                                     

92 Fannie Mae DUS MBS

Geographic Distribution:                              

NY (14.0%), TX (11.0%), NC (10.5%)

Weighted Average


Debt Service Coverage Ratio (DSCR):        

1.88x

Weighted Average


Loan-to-Value (LTV):                                    

68.8%





Settlement Date:                                           

June 28, 2013



Lead Manager:                                              

Barclays

Co-Managers:                                         

Deutsche Bank and Jefferies

 

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2013-M9) 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.

Visit us at: www.fanniemae.com/progress

Follow us on Twitter: http://twitter.com/FannieMae.

SOURCE Fannie Mae



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