Washington, D.C.—Fannie Mae priced its second Multifamily DUS REMIC in 2012 totaling $977 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on February 15, 2012.
All classes of FNA 2012-M2 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
|X||$976,703,966||9.04||0.646||Interest Only||Not yet offered||Not yet offered|
|Collateral:||190 Fannie Mae DUS MBS|
|Geographic Distribution:||CA (20 percent), TX (11 percent), NY (10 percent)|
|Debt Service Coverage Ratio (DSCR):||2.01x|
|Loan-to-Value (LTV):||64.5 percent|
|Settlement Date:||February 29, 2012|
|Lead Manager:||Wells Fargo Securities|
|Co-Managers:||J.P. Morgan and Morgan Stanley|