PR Newswire | Sep 14, 2021 12:45PM EDT

GeMS Program

09/14 11:45 CDT

Fannie Mae Priced $210 Million Multifamily DUS REMIC (FNA 2021-M18) Under Its GeMS Program WASHINGTON, Sept. 14, 2021

WASHINGTON, Sept. 14, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced a $210 million Multifamily DUS(r) REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS(tm)) program on September 10, 2021. FNA 2021-M18 marks the ninth Fannie Mae GeMS issuance of 2021.

"We kicked off the fall season with a first for us, the re-securitization of our Hybrid ARM product in the M18," said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. "This Hybrid ARM product provides long-term flexible financing for small building owners, and prepayment protection for investors during the fixed-rate period. Although the program is a smaller component of our Multifamily portfolio, it expands opportunity for smaller apartment building owners nationwide, providing them with alternatives to traditional, fixed-rate financing."

All classes of FNA 2021-M18 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

H5 $57,217,063 3.36 0.942 FLT/AFC S+15 100.50

X1 $57,217,063 7.67 2.453 WAC IO Not Offered Not Offered

H7 $56,746,133 5.00 1.279 FLT/AFC S+25 100.50

X2 $56,746,133 8.02 1.618 WAC IO Not Offered Not Offered

H10 $96,355,804 6.39 1.626 FLT/AFC S+45 100.49

X3 $96,355,804 8.08 1.133 WAC IO Not Offered Not Offered

Total $210,319,000

Group 1 Collateral

UPB: $57,217,063

Collateral: 30 Fannie Mae DUS MBS

Geographic Distribution: CA (17.1%), WA (14.33%), CO (13.44%)

Weighted Average Debt Service Coverage Ratio 1.78x(DSCR):

Weighted Average Loan-to-Value (LTV): 65.6%

Group 2 Collateral

UPB: $56,746,133

Collateral: 27 Fannie Mae DUS MBS

Geographic Distribution: CA (36.73%), PA (13.62%), WV (12.26%)

Weighted Average Debt Service Coverage Ratio 1.93x(DSCR):

Weighted Average Loan-to-Value (LTV): 58.8%

Group 3 Collateral

UPB: $96,355,805

Collateral: 51 Fannie Mae DUS MBS

Geographic Distribution: CA (19.07%), IL (14.6%), MD (6.67%)

Weighted Average Debt Service Coverage Ratio 1.89x(DSCR):

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

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2021-M18) 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

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