PR Newswire | Feb 11, 2021 05:01PM EST

GeMS Program

02/11 16:00 CST

Fannie Mae Prices $1.07 Billion Multifamily DUS REMIC (FNA 2021-M4) Under Its GeMS Program WASHINGTON, Feb. 11, 2021

WASHINGTON, Feb. 11, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $1.07 billion Multifamily DUS(r) REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS(tm)) program on February 10, 2021. FNA 2021-M4 marks the third Fannie Mae GeMS issuance of 2021.

"This week's M4 is backed by call-protected DUS 10-year fixed-rate collateral and offered investors a tight window, low premium investment opportunity," said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. "As Agency CMBS spreads continue to grind tighter this year, we were pleased with the diversity of investors in the order book."

All classes of FNA 2021-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 can be found in the table below:

Weighted Average Coupon OfferedClass Original Face Life Coupon (%) Type Spread Price

A1 $110,358,000 6.52 0.959 Fixed S+14 100

A2 $855,978,728 9.87 1.466 WAC S+20 100.77

A3 $100,000,000 9.92 1.386 Fixed/AFC Not Available Not Available

X $110,358,000 6.49 0.507 WAC IO Not Offered Not Offered

X3 $100,000,000 9.42 0.08 WAC IO Not Offered Not Offered

Total $1,066,336,728

Group 1 Collateral

UPB: $1,066,336,728

Collateral: 120 Fannie Mae DUS MBS

Geographic Distribution: TX (19.69%), CA (16.68%), FL (13.62%)

Weighted Average Debt Service Coverage Ratio (DSCR): 1.8x

Weighted Average Loan-to-Value (LTV): 64%

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2021-M4) available on the Fannie Mae GeMS Archive page.

About Fannie MaeFannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit:fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

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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.

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SOURCE Fannie Mae