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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.68% | 1.49 | 1.48 | 1.49 | 1.51 | 1.47 | 1.51 | 1,949,437 | 20:59:20 |
WASHINGTON, June 17, 2015 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its sixth Multifamily DUS® REMIC in 2015 totaling $975 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on June 12, 2015.
"This deal really highlighted the flexibility of the Fannie Mae Multifamily platform," said Josh Seiff, Fannie Mae's Vice President of Capital Markets and Trading. "For borrowers, our MBS execution provides loan structures that other securitized platforms can't match – like the 12-year collateral featured in this deal. The versatility of our GeMS securitization program allows Fannie Mae to match borrower demand for longer-term loans with investor appetite for call-protected, high-quality bonds."
All classes of FNA 2015-M10 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 |
Spread |
Offered |
Price | ||||||
FA |
$488,671,969 |
3.33 |
0.434 |
Floater/ |
S+25 |
100 |
WAC Cap | ||||||
SA |
$488,671,969 |
3.33 |
4.975 |
Inverse IO |
Not Offered |
Not Offered |
A1 |
$74,165,000 |
7.24 |
2.631 |
Fixed |
S+45 |
99.75 |
A2 |
$412,357,071 |
11.51 |
3.092 |
Fixed/AFC |
S+65 |
99 |
X2 |
$486,522,071 |
10.86 |
0.171 |
WAC IO |
Not Offered |
Not Offered |
Total |
$975,194,040 |
Group 1 Collateral |
|
UPB: |
$488,671,969 |
Collateral: |
109 Fannie Mae DUS MBS |
Geographic Distribution: |
CA (32.2%), TX (11.7%), WA (11.5%) |
Weighted Average |
|
Debt Service Coverage Ratio (DSCR): |
1.71x |
Weighted Average |
|
Loan-to-Value (LTV): |
63.4% |
Group 2 Collateral |
|
UPB: |
$486,522,071 |
Collateral: |
44 Fannie Mae DUS MBS |
Geographic Distribution: |
MD (23.5%), TX (20.8%), IN (11.8%) |
Weighted Average |
|
Debt Service Coverage Ratio (DSCR): |
1.34x |
Weighted Average |
|
Loan-to-Value (LTV): |
74.1% |
Settlement Date: |
June 30, 2015 |
Lead Manager: |
Citigroup Global Markets, Inc. |
Co-Managers: |
Deutsche Bank Securities |
Amherst Pierpont Securities | |
Drexel Hamilton |
For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2015-M10) 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 homes.
Visit us at: www.fanniemae.com/progress
Follow us on Twitter: http://twitter.com/FannieMae
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fannie-mae-prices-975-million-multifamily-dus-remic-fna-2015-m10-under-its-gems-program-300100600.html
SOURCE Fannie Mae
Copyright 2015 PR Newswire
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