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Fri, March 15, 2013
Thu, March 14, 2013 Fannie Mae Prices $904.3 Million Multifamily DUS REMIC (FNA 2013-M4) Under Its Fannie Mae GeMSa" Program
Fannie Mae Prices $904.3 Million Multifamily DUS REMIC (FNA 2013-M4) Under Its Fannie... -- WASHINGTON, March 14, 2013 /PRNewswire/ --
WASHINGTON, March 14, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: [ FNMA ]) priced its third Multifamily DUS® REMIC in 2013 totaling $904.3 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on March 13, 2013.
"FNA 2013-M4 is our first GeMS deal to include 10-year DUS pools with 7-years of yield maintenance, and we saw strong investor demand for these classes due to the yield pick up they offer," said Kimberly Johnson , Fannie Mae Senior Vice President of Multifamily Capital Markets.
All classes of FNA 2013-M4 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 | $34,700,000 | 2.37 | 1.064 | Fixed Rate | S+16 | 101.00 |
ASQ2 | $547,662,561 | 4.81 | 1.451 | Fixed Rate | S+24 | 101.00 |
X1 | $582,362,561 | 4.19 | 4.123 | WAC IO | J+55 | 16.11 |
ATS1 | $37,800,000 | 4.69 | 1.574 | Fixed Rate | S+35 | 101.20 |
ATS2 | $284,121,566 | 8.67 | 2.608 | Fixed Rate | S+58 | 101.00 |
X2 | $321,921,566 | 8.20 | 1.154 | WAC IO | Not Offered | Not Offered |
Total | $904,284,127 |
Group 1 Collateral | |
UPB: | $582,362,562 |
Collateral: | 97 Fannie Mae seasoned DUS MBS |
Geographic Distribution: | CA (16.1%), MD (14.9%), VA (9.0%) |
Weighted Average | |
Debt Service Coverage Ratio (DSCR): | 1.64x |
Weighted Average | |
Loan-to-Value (LTV): | 68.22% |
Group 2 Collateral | |
UPB: | $321,921,566 |
Collateral: | 38 Fannie Mae 10/7 DUS MBS |
Geographic Distribution: | TX (26.9%), CA (25.6%), CO (17.6%) |
Weighted Average | |
Debt Service Coverage Ratio (DSCR): | 1.46x |
Weighted Average | |
Loan-to-Value (LTV): | 75.18% |
Settlement Date: | March 28, 2013 |
Lead Manager: | Credit Suisse |
Co-Managers: | Barclays and Goldman Sachs |
For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet ([ FNA 2013-M4 ]) 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 Mae
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