Fannie Mae Prices $584 million Multifamily DUS REMIC under its GeMS(TM) ProgramBy Fannie Mae, PRNE
Tuesday, May 17, 2011
WASHINGTON, May 18, 2011 - Fannie Mae (OTC Bulletin Board: FNMA) priced its first Multifamily DUS
REMIC in 2011 totaling $584 million under its Fannie Mae Guaranteed
Multifamily Structures (Fannie Mae GeMS(TM)) program on Tuesday, May 17,
2011. Structure details for the multi-tranche offering are included in the
Class CUSIP Original Weighted Coupon Face Average Life A1 31397UPD5 $30,225,000 4.09 1.981% A2 31397UPE5 59,800,000 8.76 3.607% A3 31397UPF0 353,842,465 9.84 3.763% FA 31397UPG8 140,122,610 9.31 1mo L+45, 7% Cap SA 31397UPH6 140,122,610 9.31 6.353% X 31397UPJ2 583,990,075 9.31 0.272% Total $583,990,075 Class CUSIP Coupon Type Spread Price A1 31397UPD5 Fixed Rate S+45 99.5 A2 31397UPE5 Fixed Rate S+67 99.5 A3 31397UPF0 Fixed Rate S+65 99.5 FA 31397UPG8 Floating Rate L+45 100 SA 31397UPH6 Inverse Interest Not offered Not offered Only X 31397UPJ2 Interest Only Not offered Not offered Total Collateral: 109 DUS Pools Geographic Distribution: NY (22.9%), CA (18.7%), TX (10.7%) Debt Service Coverage Ratio (DSCR): 1.79x Loan-to-Value (LTV): 62% Settlement Date: 5/27/2011 Lead Manager: Credit Suisse Co-Managers: Amherst Securities Group, L.P. and Deutsche Bank Securities
For additional information, please refer to the Fannie Mae GeMS REMIC
Term Sheet (FNA 2011-M1
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 Investors page of our Web site
at www.fanniemae.com and on the SEC's Web site at www.sec.gov.
Fannie Mae exists to expand affordable housing and bring global capital
to local communities in order to serve the U.S. housing market. Fannie Mae
has a federal charter and operates in America's secondary mortgage market to
enhance the liquidity of the mortgage market by providing funds to mortgage
bankers and other lenders so that they may lend to home buyers. Our job is to
help those who house America.
Katherine Constantinou, +1-202-752-5403
Tags: District of Columbia, Fannie Mae, May 18, Washington