Home collateral Fannie Mae has assessed $604 million multi-family DUS REMIC (FNA 2022-M13) under its GeMS program

Fannie Mae has assessed $604 million multi-family DUS REMIC (FNA 2022-M13) under its GeMS program

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WASHINGTON, September 14, 2022 /PRNewswire/ — Fannie Mae (OTCQB: FNMA) at the price of one $604 million Multifamily DHS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on September 8, 2022. FNA 2022-M13 marks the seventh Fannie Mae GeMS issue of 2022.

“The new issue market was packed last week after the summer holidays, so we were pleased that investors were able to focus on the M13 deal with its 10-year fixed-rate, discounted fixed-rate guarantee. “, said Dan dresser, Senior Vice President, Multifamily Capital Markets and Pricing, Fannie Mae. “Spreads on the DUS MBS, which serves as collateral for the GeMS transaction, have remained strong against other asset classes during this volatile year, and investors appreciate the market’s ability to create larger pools and well-diversified DUS MBS through the GeMS re-securitization process.”

All classes of FNA 2022-M13 are guaranteed by Fannie Mae for full and timely payment of interest and principal. The detail of the structure of the multi-tranches offer can be found in the table below:

To classify

original face

Weighted average
Life

Coupon (%)

Coupon Type

Spread*

Free

Price

A1

$50,000,000

6.03

2.593

WAC

P+58

94.23

A2

$554,171,233

9.57

2.593

WAC

P+93

89.20

Total

$604,171,233






* The spread on FNA 2022-M13 was valued using the SOFR swap curve

Group 1 collateral




UPB:

$604,171,233

Collateral:

65 Fannie Mae DUS MBS

Geographic distribution:

TX (18.54%), CA (16.99%), FL (7.84%)

Weighted average debt service coverage ratio (DSCR):

1.67x

Weighted average loan-to-value ratio (LTV):

61.8%

For more information, please refer to the Fannie Mae GeMS REMIC Requirement Sheet (FNA 2022-M13) available on the Fannie Mae GeMS Archive Page.

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Certain statements contained in this release may be considered forward-looking statements within the meaning of federal securities laws. Additionally, not all titles will have the features described in this release. Before investing in a security issued by Fannie Mae, you should read the prospectus and prospectus supplement under which that security is offered. You should also read our most recent annual report on Form 10-K and our reports on Form 10-Q and Form 8-K filed with the United States Securities and Exchange Commission (“SEC”), available at Investor Relations from our website. at www.fanniemae.com and on the SEC website at www.sec.gov.

SOURCEFanni Mae