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Press Release

Fannie Mae Priced $720 Million Multifamily DUS REMIC (FNA 2022-M10) Under Its GeMS Program

May 17, 2022

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) priced a $720 million Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on May 11, 2022. FNA 2022-M10 marks the fifth Fannie Mae GeMS issuance of 2022.

“The M10 provided an opportunity to buy discounted, 10-year cash flows with 100% of any future prepayment premiums on the underlying MBS,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets and Pricing, Fannie Mae. “We are pleased that the investor community was able to focus on the deal given recent rate volatility and competing investment opportunities.”

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

Class Original Face Weighted Average Life Coupon (%) Coupon Type Spread Offered Price
A1 $42,100,000 6.71 2.003 WAC S+42 92.71
A2 $677,674,679 9.56 2.003 WAC S+79 87.01
Total $719,774,679          

* The spread on FNA 2022-M10 was priced using the SOFR swap curve

 

Collateral

UPB $719,774,679
Collateral 41 Fannie Mae DUS MBS
Geographic Distribution TX (19.48%), IL (12.75%), NY (10.15%)
Weighted Average
Debt Service Coverage Ratio (DSCR)		 1.75x
Weighted Average
Loan-to-Value (LTV)		 66.7%

For additional information on this transaction, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2022-M10) available on the Fannie Mae GeMS Archive page.

About Fannie Mae
Fannie Mae advances equitable and sustainable access to homeownership and quality, affordable rental housing for millions of people across America. We enable the 30-year fixed-rate mortgage and drive responsible innovation to make homebuying and renting easier, fairer, and more accessible. To learn more, visit:
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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.