Fannie Mae Priced $509.1 Million Multifamily DUS REMIC (FNA 2024-M4) Under Its GeMS Program
"We're excited to announce the pricing of our second GeMS deal for 2024," said
All classes of FNA 2024-M4 are guaranteed by
Class |
Original Face |
Weighted Average |
Coupon (%) |
Coupon Type |
Spread* |
Offered |
Price |
||||||
A1 |
|
6.16 |
4.791 |
Fixed |
Not Available |
Not Available |
A2 |
|
9.44 |
4.871 |
Fixed |
P+89 |
100.00 |
A3 |
|
9.57 |
4.40 |
Fixed |
Not Available |
Not Available |
X1 |
|
6.13 |
0.322 |
WAC IO |
Not Offered |
Not Offered |
X2 |
|
8.95 |
0.242 |
WAC IO |
Not Offered |
Not Offered |
X3 |
|
9.07 |
0.713 |
WAC IO |
Not Offered |
Not Offered |
Total |
|
|
|
|
|
|
* The spread on FNA 2024-M4 was priced using the SOFR swap curve
Group 1 Collateral
UPB: |
|
Collateral: |
76 Fannie Mae DUS MBS |
Geographic Distribution: |
TX (24.30%), FL (11.81%), IL (8.14%) |
Weighted Average Debt Service Coverage Ratio (DSCR): |
1.42x |
Weighted Average Loan-to-Value (LTV): |
58.8 % |
For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2024-M4) available on the Fannie Mae GeMS Archive page.
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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
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