{"id":411400,"date":"2021-01-08T17:03:14","date_gmt":"2021-01-08T22:03:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=411400"},"modified":"2021-01-08T17:03:14","modified_gmt":"2021-01-08T22:03:14","slug":"fannie-mae-prices-759-million-multifamily-dus-remic-fna-2021-m1-under-its-gems-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/fannie-mae-prices-759-million-multifamily-dus-remic-fna-2021-m1-under-its-gems-program\/","title":{"rendered":"Fannie Mae Prices $759 Million Multifamily DUS REMIC (FNA 2021-M1) Under Its GeMS Program"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n WASHINGTON<\/span>, Jan. 8, 2021<\/span> \/PRNewswire\/ — Fannie Mae (OTCQB: FNMA) priced a $759 million<\/span> Multifamily DUS\u00ae<\/sup> REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS\u2122) program on January 8, 2021<\/span>. FNA 2021-M1 marks the first Fannie Mae GeMS issuance of 2021. <\/p>\n

“We opened 2021 by bringing the $759 million<\/span> M1 transaction to market this week \u2013 building on the momentum of last year,” said Dan Dresser<\/span>, Senior Vice President, Multifamily Capital Markets & Pricing. “Fannie Mae’s Multifamily business saw a record year of MBS issuance in 2020. In addition, Fannie Mae’s re-securitization platform issued over $28 billion<\/span> in ACES\u00ae<\/sup> and GeMS REMICs \u2013 another record level. Despite high volumes and first quarter dislocation, spreads have remained strong and the Agency CMBS investor base continues to grow. We look forward to another strong year in 2021.”<\/p>\n

All classes of FNA 2021-M1 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:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n
\n Class<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Original Face<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Weighted Average
Life<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Coupon (%)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Coupon
Type<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Spread<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Offered<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Price<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n FA<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $45,283,124<\/span>\n <\/p>\n<\/td>\n

\n

\n 6.06<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.452<\/span>\n <\/p>\n<\/td>\n

\n

\n Floater\/AFC<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Available<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Available<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n FX<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $45,283,124<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.32<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.037<\/span>\n <\/p>\n<\/td>\n

\n

\n WAC IO<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Offered<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Offered<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n A1<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $76,500,000<\/span>\n <\/p>\n<\/td>\n

\n

\n 5.94<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.87<\/span>\n <\/p>\n<\/td>\n

\n

\n Fixed<\/span>\n <\/p>\n<\/td>\n

\n

\n S+19<\/span>\n <\/p>\n<\/td>\n

\n

\n 100<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n A2<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $497,274,847<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.77<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.39<\/span>\n <\/p>\n<\/td>\n

\n

\n WAC<\/span>\n <\/p>\n<\/td>\n

\n

\n S+26<\/span>\n <\/p>\n<\/td>\n

\n

\n 100.57<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n A3<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $140,000,000<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.82<\/span>\n <\/p>\n<\/td>\n

\n

\n 1.38<\/span>\n <\/p>\n<\/td>\n

\n

\n Fixed\/AFC<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Available<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Available<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n X<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $76,500,000<\/span>\n <\/p>\n<\/td>\n

\n

\n 5.92<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.52<\/span>\n <\/p>\n<\/td>\n

\n

\n WAC IO<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Offered<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Offered<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n X3<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $140,000,000<\/span>\n <\/p>\n<\/td>\n

\n

\n 9.32<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.01<\/span>\n <\/p>\n<\/td>\n

\n

\n WAC IO<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Offered<\/span>\n <\/p>\n<\/td>\n

\n

\n Not Offered<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Total<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n $759,057,971<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n<\/table><\/div>\n

\n
\n Group 1 Collateral<\/u>
\n <\/b>\n <\/p>\n

\n\n\n\n\n\n\n
\n

\n
\n UPB:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $45,283,124<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Collateral:<\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\n <\/p>\n<\/td>\n

\n

\n 9 Fannie Mae DUS MBS<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Geographic Distribution:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n KY (22.99%), OK (20.04%), ID (13.25%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Weighted Average Debt Service Coverage Ratio (DSCR):<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 1.9x<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Weighted Average Loan-to-Value (LTV):\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n 63.8%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n
\n Group 2 Collateral<\/u>
\n <\/b>\n <\/p>\n

\n\n\n\n\n\n\n
\n

\n
\n UPB:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n $713,774,848<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Collateral:<\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\n <\/p>\n<\/td>\n

\n

\n 112 Fannie Mae DUS MBS<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Geographic Distribution:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n CA (24.95%), FL (18.22%), TX (9.93%)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Weighted Average Debt Service Coverage Ratio (DSCR):<\/b>\u00a0\u00a0\u00a0\u00a0<\/span>\n <\/p>\n<\/td>\n

\n

\n 2.07x<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n Weighted Average Loan-to-Value (LTV):\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span>\n <\/p>\n<\/td>\n

\n

\n 61.51%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2021-M1) available on the Fannie Mae GeMS Archive page<\/a>. <\/p>\n

\n About Fannie Mae
<\/b>Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. 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:
fanniemae.com<\/a><\/u> | Twitter<\/a> | Facebook<\/a> | LinkedIn<\/a> | Instagram<\/a> | YouTube<\/a> | Blog<\/a><\/p>\n

\n Fannie Mae Newsroom
<\/b>
\n https:\/\/www.fanniemae.com\/news<\/a>\n <\/p>\n

\n Photo of Fannie Mae
<\/b>
\n https:\/\/www.fanniemae.com\/resources\/img\/about-fm\/fm-building.tif<\/a>\n <\/p>\n

\n Fannie Mae Resource Center
<\/b>1-800-2FANNIE<\/p>\n

\n 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<\/a> and on the SEC’s Web site at www.sec.gov<\/a>.<\/i>\n <\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/fannie-mae-prices-759-million-multifamily-dus-remic-fna-2021-m1-under-its-gems-program-301203594.html<\/a><\/p>\n

SOURCE Fannie Mae<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire WASHINGTON, Jan. 8, 2021 \/PRNewswire\/ — Fannie Mae (OTCQB: FNMA) priced a $759 million Multifamily DUS\u00ae REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS\u2122) program on January 8, 2021. FNA 2021-M1 marks the first Fannie Mae GeMS issuance of 2021. “We opened 2021 by bringing the $759 million M1 transaction to market this week \u2013 building on the momentum of last year,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. “Fannie Mae’s Multifamily business saw a record year of MBS issuance in 2020. In addition, Fannie Mae’s re-securitization platform issued over $28 billion in ACES\u00ae and GeMS REMICs \u2013 another record level. Despite high volumes and first quarter dislocation, spreads have remained … <\/p>\n

Continue reading “Fannie Mae Prices $759 Million Multifamily DUS REMIC (FNA 2021-M1) Under Its GeMS Program”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-411400","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFannie Mae Prices $759 Million Multifamily DUS REMIC (FNA 2021-M1) Under Its GeMS Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/fannie-mae-prices-759-million-multifamily-dus-remic-fna-2021-m1-under-its-gems-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fannie Mae Prices $759 Million Multifamily DUS REMIC (FNA 2021-M1) Under Its GeMS Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire WASHINGTON, Jan. 8, 2021 \/PRNewswire\/ — Fannie Mae (OTCQB: FNMA) priced a $759 million Multifamily DUS\u00ae REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS\u2122) program on January 8, 2021. FNA 2021-M1 marks the first Fannie Mae GeMS issuance of 2021. “We opened 2021 by bringing the $759 million M1 transaction to market this week \u2013 building on the momentum of last year,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. “Fannie Mae’s Multifamily business saw a record year of MBS issuance in 2020. In addition, Fannie Mae’s re-securitization platform issued over $28 billion in ACES\u00ae and GeMS REMICs \u2013 another record level. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/fannie-mae-prices-759-million-multifamily-dus-remic-fna-2021-m1-under-its-gems-program\/","og_locale":"en_US","og_type":"article","og_title":"Fannie Mae Prices $759 Million Multifamily DUS REMIC (FNA 2021-M1) Under Its GeMS Program - Market Newsdesk","og_description":"PR Newswire WASHINGTON, Jan. 8, 2021 \/PRNewswire\/ — Fannie Mae (OTCQB: FNMA) priced a $759 million Multifamily DUS\u00ae REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS\u2122) program on January 8, 2021. FNA 2021-M1 marks the first Fannie Mae GeMS issuance of 2021. “We opened 2021 by bringing the $759 million M1 transaction to market this week \u2013 building on the momentum of last year,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. “Fannie Mae’s Multifamily business saw a record year of MBS issuance in 2020. In addition, Fannie Mae’s re-securitization platform issued over $28 billion in ACES\u00ae and GeMS REMICs \u2013 another record level. 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