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Press Release

Fannie Mae Priced $721 Million Multifamily DUS REMIC (FNA 2022-M3) Under Its GeMS Program

March 25, 2022

WASHINGTON, DC – Fannie Mae (FNMA/OTCQB) priced a $721 million Multifamily DUS® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on March 16, 2022. FNA 2022-M3 marks the third Fannie Mae GeMS issuance of 2022.

“The M3 investors have had to contend with financial markets volatility, macro uncertainty, and a recent Federal Reserve interest rate hike,” said Dan Dresser, Senior Vice President, Multifamily Capital Markets and Pricing, Fannie Mae. “We were pleased that they were still able to focus on this deal, which provided over $700 million in 10-year collateral with a 2.19x DSCR.”

All classes of FNA 2022-M3 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 $33,309,000 6.28 1.764 WAC S+40 96.50
A2 $687,816,612 9.64 1.764 WAC S+88 90.65
Total $721,125,612          

* The spread on FNA 2022-M3 was priced using the SOFR swap curve.

 

Collateral

UPB $721,125,612
Collateral 36 Fannie Mae DUS MBS
Geographic Distribution CA (34.21%), DC (15.09%), FL (14.09%)
Weighted Average
Debt Service Coverage Ratio (DSCR)		 2.19x
Weighted Average
Loan-to-Value (LTV)		 59.69%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2022-M3) 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.