WASHINGTON, Jan. 23, 2017 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its first Multifamily DUS® REMIC in 2017 totaling $1.04 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS(TM)) program on January 18, 2017.

"Agency CMBS has become a recognized asset class, led by Fannie Mae DUS MBS. We issued more than $55 billion in multifamily MBS last year, plus another $10 billion in GeMS new issuance - significantly more than any other securitized multifamily platform," said Josh Seiff, Fannie Mae's Vice President of Capital Markets and Trading. "FNA 2017-M1 continued the trend - more than 40 investors were involved in the deal, which included 111 loans and was just over $1.0 billion in size. We're looking forward to another market-leading year for the Fannie Mae DUS platform in 2017."

All classes of FNA 2017-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 are in the table below:



        Class Original Face               Weighted        Coupon (%)       Coupon Type Spread    Offered
                                        Average Life
                                                                                                   Price
    ---                                                                                            -----

         A1                $125,400,000              5.96            2.416         WAC      S+51         99.49
         ---               ------------              ----            -----         ---      ----         -----

         A2                $916,568,605              9.71            2.416         WAC      S+66         96.06
         ---               ------------              ----            -----         ---      ----         -----

        Total            $1,041,968,605
        -----            --------------




    Group 1 Collateral
    ------------------


    UPB:                                                   $1,041,968,605

    Collateral:                 111 Fannie Mae DUS MBS

    Geographic Distribution:    FL (12.0%), NC (11.5%), CA (11.5%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                    1.58x

    Weighted Average

    Loan-to-Value (LTV):                                            68.5%


    Settlement Date:            January 31, 2017


    Lead Manager:               Morgan Stanley

    Co-Managers:                Credit Suisse

                                Amherst Pierpont Securities

                                Great Pacific Securities

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2017-M1) available on the Fannie Mae GeMS Archive page on www.fanniemae.com.

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 and on the SEC's Web site at www.sec.gov.

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 and follow us on twitter.com/fanniemae.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fannie-mae-prices-104-billion-multifamily-dus-remic-fna-2017-m1-under-its-gems-program-300394926.html

SOURCE Fannie Mae