Company Announcements

Fannie Mae Priced $802 Million Multifamily DUS REMIC (FNA 2021-M17) Under Its GeMS Program

WASHINGTON, July 22, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced an $802 million Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on July 21, 2021. FNA 2021-M17 marks the eighth Fannie Mae GeMS issuance of 2021.

"We were grateful that market participants were able to focus on our July GeMS deal, the M17, given the rate volatility this week," said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. "Despite mid-summer holidays, recent rate volatility, and spread softening, we were able to execute the M17 at attractive levels. After a long period of one-way spread and yield movement, this week's volatility provided an opportunity for investors and demonstrated the consistent demand for well-diversified, block-sized deals."

All classes of FNA 2021-M17 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 can be found in the table below:

Class

Original Face

Weighted Average Life

Coupon (%)

Coupon Type

Spread


Offered Price

A1

$66,000,000

6.51

1.141

Fixed

S+14

100

A2

$576,125,117

9.79

1.714

Fixed/AFC

S+22

102

A3

$160,000,000

9.96

1.44

Fixed

Not Available

Not Available

X

$642,125,117

9.00

0.176

WAC IO

Not Offered

Not Offered

X3

$160,000,000

9.46

0.392

WAC IO

Not Offered

Not Offered

Total

$802,125,117






 

Group 1 Collateral


UPB:                                          

$802,125,118

Collateral:                                      

65 Fannie Mae DUS MBS

Geographic Distribution:        

TX (27.77%), CA (16.83%), OH (12.68%)

Weighted Average Debt Service Coverage Ratio (DSCR):    

1.96x

Weighted Average Loan-to-Value (LTV):                         

63.35%

 

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2021-M17) available on the Fannie Mae GeMS Archive page.

About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:
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https://www.fanniemae.com/newsroom

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Fannie Mae Resource Center
1-800-2FANNIE

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.

Cision View original content:https://www.prnewswire.com/news-releases/fannie-mae-priced-802-million-multifamily-dus-remic-fna-2021-m17-under-its-gems-program-301339820.html

SOURCE Fannie Mae

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