Fannie Mae Prices $1.18 Billion Multifamily DUS REMIC (FNA 2020-M8) Under Its GeMS Program
Federal National Mortgage Association (FNMA)
NASDAQ:AMEX Investor Relations:
fanniemae.com/portal/about-fm/investor-relations/index.html
Company Research
Source: PR Newswire
WASHINGTON, March 11, 2020 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) priced its third Multifamily DUS® REMIC in 2020 totaling $1.18 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on March 10, 2020. "In a week marked by contagion concerns, record low yields, and dislocation in certain markets, we have been pleased with the way that DUS and GeMS spreads have held." said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. "The positive convexity of the call-protected DUS MBS is appealing in a week like this, and the M8 offers investors the opportunity to pick up a low premium, Agency CMBS deal backed by $972 million in 10-year call-protected, fixed-rate collateral."All classes of FNA 2020-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:ClassOriginal FaceWeighted Average LifeCoupon (%)Co
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- FNMA's page on the SEC website