Fannie Mae Maintains a Steady Pace of Multifamily Issuance in the Second Quarter

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Fannie Mae announced that the company issued approximately $7.6 billion of multifamily MBS in the second quarter of 2013, backed by new multifamily loans delivered by its lenders.

Washington, D.C.—Fannie Mae announced that the company issued approximately $7.6 billion of multifamily MBS in the second quarter of 2013, backed by new multifamily loans delivered by its lenders. Fannie Mae also resecuritized $3.0 billion of DUS® MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMSTM) program in the second quarter.

The company’s DUS MBS securities provide market participants with predictable cash flows and call protection in defined maturities of five, seven and ten years. Fannie Mae’s GeMS program consists of structured multifamily securities created from collateral specifically selected by Fannie Mae Capital Markets. Features of Fannie Mae GeMS have included block size transactions, collateral diversity and pricing close to par through Fannie Mae’s multifamily REMICs (ACES®) and multifamily Mega securities.

Highlights of Fannie Mae’s multifamily activity in the second quarter of 2013 include the following:

1)  Multifamily MBS backed by new multifamily acquisitions

New multifamily MBS business volumes in the second quarter of 2013 totaled approximately $7.6 billion.

2)  Fannie Mae GeMS & Aces Issuance

Issuance of Fannie Mae’s structured multifamily securities created from collateral selected by Fannie Mae Capital Markets totaled $3.0 billion in the second quarter of 2013.  This includes three Fannie Mae GeMS REMIC transactions. In addition, through the ACES program, Fannie Mae issued two multifamily REMICs backed by $692 million of dealer-contributed DUS MBS in the second quarter of 2013, adding to the liquidity of Fannie Mae DUS MBS.

3)  Fannie Mae sales

Fannie Mae Capital Markets sold approximately $5.5 billion of multifamily mortgage securities from its portfolio in the second quarter of 2013.

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