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

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Sep 20, 2012, 02:23 ET

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