WASHINGTON/July 14, 2017 (StlRealEstate.News) — Fannie Mae (OTC Bulletin Board: FNMA) priced its seventh Multifamily DUS® REMIC in 2017 totaling $902.3 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on July 12, 2017.
“This deal was backed by 118 mortgage-backed securities, which financed nearly 17,000 units in 30 states,” said Josh Seiff, Fannie Mae’s Vice President of Capital Markets and Trading. “The GeMS program creates greater liquidity for DUS MBS and helps Fannie Mae meet the needs of multifamily borrowers of all sizes in all markets.”
All classes of FNA 2017-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 are in the table below:
For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2017-M8) available on the Fannie Mae GeMS Archive page http://www.fanniemae.com/portal/jsp/mbs/mbsmultifamily/gems_archive.html.
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.
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. 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 and follow us on twitter.com/fanniemae.
SOURCE: Fannie Mae