Fannie Mae Prices $977 Million Multifamily DUS REMIC Under Its GeMS™ Program

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.

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

Price

A1 $151,800,000 5.51 1.846 Fixed Rate +45 101.00
A2 $707,699,966 9.80 2.784 Fixed Rate +65 101.00
AB $117,204,000 9.04 2.632 Fixed Rate +77 99.75
X $976,703,966 9.04 0.646 Interest Only Not  yet offered Not yet offered
Total $976,703,966
Collateral: 190 Fannie Mae DUS MBS
Geographic Distribution: CA (20 percent), TX (11 percent), NY (10 percent)
Weighted Average
Debt Service Coverage Ratio (DSCR): 2.01x
Weighted Average
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