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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Fannie Mae (QB) | USOTC:FNMA | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.05 | 3.40% | 1.52 | 1.52 | 1.54 | 1.54 | 1.445 | 1.46 | 2,099,175 | 21:08:31 |
WASHINGTON, April 21, 2014 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its fourth Multifamily DUS® REMIC in 2014 totaling $896.4 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on April 11, 2014.
"Investors had to contend with some rate volatility while the book was building," said Josh Seiff, Fannie Mae Vice President of Multifamily Capital Markets. "Once rates stabilized a bit, we saw strong demand for shorter bonds backed by seasoned collateral and 10-year cash flows."
All classes of FNA 2014-M4 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 Average Life |
Coupon (%) |
Coupon Type |
Spread |
Offered Price |
ASQ1 |
$44,048,000 |
1.68 |
0.484 |
Fixed |
E+5 |
100.00 |
ASQ2 |
$396,429,273 |
2.29 |
1.272 |
Fixed |
S+17 |
101.00 |
X1 |
$440,477,273 |
1.75 |
4.321 |
WAC IO |
Not offered |
Not offered |
A1 |
$62,122,000 |
5.34 |
2.476 |
Fixed |
Not offered |
Not offered |
A2 |
$339,099,000 |
9.80 |
3.346 |
Fixed |
S+49 |
101.00 |
AB1 |
$8,472,000 |
5.34 |
2.321 |
Fixed |
Not offered |
Not offered |
AB2 |
$46,240,039 |
9.80 |
3.205 |
Fixed |
S+59 |
99.00 |
X2 |
$455,933,039 |
8.69 |
0.296 |
WAC IO |
J+125 |
2.17 |
Total |
$896,410,312 |
Group 1 Collateral |
|
UPB: |
$440,477,273 |
Collateral: |
103 Fannie Mae DUS MBS |
Geographic Distribution: |
CA (38.4%), GA (7.6%), MD (6.7%) |
Weighted Average |
|
Debt Service Coverage Ratio (DSCR): |
1.58x |
Weighted Average |
|
Loan-to-Value (LTV): |
65.6% |
Group 2 Collateral |
|
UPB: |
$455,933,039 |
Collateral: |
56 Fannie Mae DUS MBS |
Geographic Distribution: |
CA (27.4%), TX (17.6%), MA (8.7%) |
Weighted Average |
|
Debt Service Coverage Ratio (DSCR): |
1.41x |
Weighted Average |
|
Loan-to-Value (LTV): |
69.3% |
Settlement Date: |
April 30, 2014 |
Lead Manager: |
Goldman Sachs & Co. |
Co-Managers: |
Citigroup and Morgan Stanley |
For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2014-M4) 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 enables people to buy, refinance, or rent a home.
Visit us at: www.fanniemae.com/progress
Follow us on Twitter: http://twitter.com/FannieMae.
SOURCE Fannie Mae
Copyright 2014 PR Newswire
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