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Press release from PR Newswire

Fannie Mae Prices $1.12 Billion Multifamily DUS REMIC (FNA 2013-M3) Under Its Fannie Mae GeMS? Program

Thursday, February 21, 2013

Fannie Mae Prices $1.12 Billion Multifamily DUS REMIC (FNA 2013-M3) Under Its Fannie Mae GeMS? Program15:09 EST Thursday, February 21, 2013WASHINGTON, Feb. 21, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its second Multifamily DUS® REMIC in 2013 totaling $1.12 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on February 15, 2013."February has been a period of heavy supply, coupled with a continued sell off in rates," said Kimberly Johnson, Fannie Mae Senior Vice President of Multifamily Capital Markets.  "The deal priced well, but there is a growing sense that some duration players are feeling cautious as Residential MBS cheapens versus Multifamily MBS.  Offering collateral at different points on the curve has certainly helped to maintain strong execution." All classes of FNA 2013-M3 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:ClassOriginal FaceWeighted Average LifeCoupon (%)Coupon TypeSpreadOffered PriceASQ1$16,000,0001.480.478Fixed RateS+10100.00ASQ2$404,057,1202.891.083Fixed RateS+17101.00X1$420,057,1202.364.082WAC IOJ+1009.36A1$80,620,0005.341.585Fixed RateS+27101.00A2$371,754,4369.632.509Fixed RateS+46100.25AB1$10,994,0005.341.438Fixed RateS+3799.75AB2$50,693,4249.632.501Fixed RateS+6099.00X2$514,061,8608.460.209WAC IOJ+1651.36AL$186,744,88717.093.346Fixed RateS+7099.50Total$1,120,863,867Group 1 Collateral UPB: $420,057,120Collateral: 44 Fannie Mae seasoned DUS MBSGeographic Distribution: CA (24.2%), TX (13.8%), OH (10.6%)Weighted Average Debt Service Coverage Ratio (DSCR): 1.67xWeighted Average Loan-to-Value (LTV): 66.3%Group 2 Collateral UPB: $514,061,861Collateral: 113 Fannie Mae 10/9.5 DUS MBSGeographic Distribution: TX (23.3%), CA (16.1%), NY (12.4%)Weighted Average Debt Service Coverage Ratio (DSCR): 3.00xWeighted Average Loan-to-Value (LTV): 64.0%Group 3 Collateral UPB: $186,744,888Collateral: 8 Fannie Mae 20/15 DUS MBSGeographic Distribution: CA (67.2%), NY (32.8%)Weighted Average Debt Service Coverage Ratio (DSCR): 1.39xWeighted Average Loan-to-Value (LTV): 69.5%Settlement Date: February 28, 2013Lead Manager: Bank of America Merrill LynchCo-Managers: Citi and J.P. MorganFor additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2013-M3) 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 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. Follow us on Twitter: http://twitter.com/FannieMae. SOURCE Fannie MaeFor further information: Katherine Constantinou, +1-202-752-5403