Fannie Mae Priced $720 Million Multifamily DUS REMIC (FNA 2022-M10) Under Its GeMS Program
"The M10 provided an opportunity to buy discounted, 10-year cash flows with 100% of any future prepayment premiums on the underlying MBS," said
All classes of FNA 2022-M10 are guaranteed by
Class |
Original Face |
Weighted Average Life |
Coupon (%) |
Coupon Type |
Spread* |
Offered |
Price |
||||||
A1 |
|
6.71 |
2.003 |
WAC |
S+42 |
92.71 |
A2 |
|
9.56 |
2.003 |
WAC |
S+79 |
87.01 |
Total |
|
|
|
|
|
|
* The spread on FNA 2022-M10 was priced using the SOFR swap curve
Group 1 Collateral
UPB:
Collateral: 41 Fannie Mae DUS MBS
Geographic Distribution: TX (19.48%), IL (12.75%), NY (10.15%)
Weighted Average Debt Service Coverage Ratio (DSCR): 1.75x
Weighted Average Loan-to-Value (LTV): 66.7%
For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2022-M10) 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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