2014

Fannie Mae Prices $1.1 Billion Multifamily DUS REMIC Under Its Fannie Mae GeMS™ Program

WASHINGTON, Sept. 20, 2012 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its eighth Multifamily DUS REMIC in 2012 totaling $1.1 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on September 19, 2012.

"2012-M13 was another Fannie Mae GeMS deal offering both 10-year and 5-year tranches. On the heels of QE3, we have seen growing interest in longer duration bonds. The 10-year tranche went very quickly, and was more than 2 times oversubscribed. Demand was broad, however, with some accounts participating across the curve," said Kimberly Johnson, Fannie Mae Vice President of Multifamily Capital Markets.

All classes of FNA 2012-M13 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

$25,000,000

2.44

1.012

Fixed Rate

S+15

101

ASQ2

$593,152,202

4.70

1.246

Fixed Rate

S+22

101

X1

$618,152,202

4.13

4.184

Interest
Only

Not
Offered

Not
Offered

A1

$72,200,000

5.53

1.403

Fixed Rate

S+25

101

A2

$368,870,450

9.66

2.377

Fixed Rate

S+50

101

AB1

$9,800,000

5.54

1.268

Fixed Rate

S+35

99.75

AB2

$49,916,275

9.66

2.332

Fixed Rate

S+60

99.75

X2

$500,786,725

8.56

0.790

Interest
Only

Not
Offered

Not
Offered

Total

$1,118,938,927






 

 

Group 1 Collateral


UPB:                                                              

$618,152,202

Collateral:                                                      

107 Fannie Mae 10/9.5 DUS MBS

Geographic Distribution:                               

CA (31.4%), TX (13.7%), NY (10.3%)

Weighted Average


Debt Service Coverage Ratio (DSCR):        

1.81x

Weighted Average


Loan-to-Value (LTV):                                    

60.0%



Group 2 Collateral


UPB:                                                              

$500,786,725

Collateral:                                                      

68 Fannie Mae 10/9.5 DUS MBS

Geographic Distribution:                               

TX (12.6%), NC (12.5%), CA (9.6%)

Weighted Average


Debt Service Coverage Ratio (DSCR):        

1.93x

Weighted Average


Loan-to-Value (LTV):                                    

66.0%





Settlement Date:                                           

September 28, 2012



Lead Manager:                                              

RBS

Co-Managers:                                                           

Bank of America Merrill Lynch and


Jeffries

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2012-M13) available on Fannie Mae's Basics of Multifamily MBS site at 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 Investors page of our Web site at www.fanniemae.com and on the SEC's Web site at www.sec.gov.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

SOURCE Fannie Mae



RELATED LINKS
http://www.fanniemae.com

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