The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

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

Monday, June 17, 2013

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

13:37 EDT Monday, June 17, 2013

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

For further information: Resource Center: 1-800-732-6643, or Contact: Katherine Constantinou, 202-752-5403

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections