Fannie Mae Priced $736 Million Multifamily DUS REMIC (FNA 2022-M8) Under Its GeMS Program

WASHINGTON, April 18, 2022 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $736 million Multifamily DUS^® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on April 11, 2022. FNA 2022-M8 marks the fourth Fannie Mae GeMS issuance of 2022.

"With the M8, we were able to include a small group of our ARM 7-6 collateral, which is a 7-year, SOFR-based floater with a 6% cap on the pass-through rate," said Dan Dresser, Senior Vice President, Multifamily Capital Markets and Pricing, Fannie Mae. "This product enables smaller borrowers who may not want to manage their own interest rate cap to participate in the popular floating-rate market. The M8 had plenty of competition this week with the shortened holiday schedule, and we are grateful that our investors were able to focus on the floating-rate class as well as the traditional 10-year tranches."

All classes of FNA 2022-M8 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 can be found in the table below:

* The spread on FNA 2022-M8 was priced using the SOFR swap curve

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2022-M8) available on the Fannie Mae GeMS Archive page.

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SOURCE Fannie Mae