Fannie Mae Multifamily Issuance Tops $10 Billion in Fourth Quarter

      Fannie Mae Multifamily Issuance Tops $10 Billion in Fourth Quarter

PR Newswire

WASHINGTON, Jan. 18, 2013

WASHINGTON, Jan. 18, 2013 /PRNewswire/ --Fannie Mae (OTC Bulletin Board:
FNMA) issued approximately $10.8 billion^1 of multifamily MBS in the fourth
quarter of 2012, backed by new multifamily loans delivered by its lenders.
Total issuance for 2012 was $33.1 billion, which was up from $23.8 billion in
2011. Fannie Mae also resecuritized $2.2 billion of DUS^® MBS through its
Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS^TM) program in
the fourth quarter, bringing the total GeMS issuance for 2012 to $10 billion.

"Market activity for our securities was robust in 2012 with total issuance
topping $33 billion," said Kimberly Johnson, Senior Vice President of
Multifamily Capital Markets, Fannie Mae. "Issuance was particularly strong in
the fourth quarter, in part due to the Fed's aggressive bond-buying program,
which has helped to keep borrowing costs at record lows. Private-sector
lending has shown signs of growth as well, adding liquidity for all market
participants."

The company's DUS MBS securities provide market participants with highly
predictable cash flows and call protection in defined maturities of five,
seven and ten years. Fannie Mae's GeMS program consists of structured
multifamily securities created from collateral specifically selected by Fannie
Mae Capital Markets.Features of Fannie Mae GeMS have included block size
transactions, collateral diversity and pricing close to par through Fannie
Mae's multifamily REMICs (ACES^®) and multifamily Mega securities.

Highlights of Fannie Mae's multifamily activity in the fourth quarter of 2012
include the following:

  1) MULTIFAMILY MBS BACKED BY NEW MULTIFAMILY ACQUISITIONS
  New multifamily MBS business volumes in the fourth quarter of 2012 totaled
  approximately $10.8 billion. 

  2) FANNIE MAE GeMS & ACES ISSUANCE
  Issuance of Fannie Mae's structured multifamily securities created from
  collateral selected by Fannie Mae Capital Markets totaled $2.2 billion in
  the fourth quarter of 2012. This includes two Fannie Mae GeMS REMIC
  transactions. In addition, dealers issued three multifamily REMICs backed
  by $1.1 billion of DUS MBS in the fourth quarter of 2012, adding to the
  liquidity of Fannie Mae DUS MBS. The combined Fannie Mae GeMS and ACES
  issuance backed by DUS MBS was $13.9 billion in 2012.

  3) FANNIE MAE SALES
  Fannie Mae Capital Markets sold approximately $1.9 billion of multifamily
  mortgage securities from its portfolio in the fourth quarter of 2012.^2

For additional information about Fannie Mae's multifamily MBS products and
issuance please refer to the Multifamily MBS webpage and the MBSenger^®
Publication "Over Twenty Years of Multifamily Mortgage Financing Through
Fannie Mae's DUS Program" on fanniemae.com.

Fannie Mae GeMS Issuance in the Fourth Quarter of 2012

 FNA 2012-M17, Priced on November 9, 2012

                               Weighted                               Offered
Class CUSIP     Original       Average     Coupon   Coupon   Spread
                FACE           Life        (%)      Type              Price
                               (Years)
ASQ1  3136A96B9 $ 13,274,000   1.43        1.238    Fixed    S+10     101.00
                                                    Rate
ASQ2  3136A96C7 $ 385,774,467  2.80        0.953    Fixed    S+13     101.00
                                                    Rate
X1    3136A96D5 $ 399,048,467  2.27        4.114    WAC IO   Not      Not
                                                             Offered  Offered
A1    3136A96E3 $ 107,250,000  5.72        1.364    Fixed    S+25     101.00
                                                    Rate
A2    3136A96F0 $ 431,779,988  9.82        2.184    Fixed    S+43     101.00
                                                    Rate
AB1   3136A96G8 $ 14,600,000   5.72        1.234    Fixed    S+35     99.75
                                                    Rate
AB2   3136A96H6 $ 58,800,000   9.82        2.222    Fixed    S+61     99.75
                                                    Rate
X2    3136A96J2 $ 612,429,988  8.59        0.504    WAC IO   Not      Not
                                                             Offered  Offered
Total           $1,011,478,455

Lead Manager: Citigroup

Co-Managers: Amherst Securities Group and Barclays Capital

FNA 2012-M14, Priced on October 11, 2012

                               Weighted    Coupon                    Offered
Class CUSIP     Original       Average            Coupon   Spread
                FACE           Life        (%)    Type               Price
                               (Years)
ASQ1  3136A9MJ4 $ 28,000,000   2.12        0.538  Fixed    S+12      100.00
                                                  Rate
ASQ2  3136A9MK1 $ 471,894,566  4.21        1.114  Fixed    S+20      101.00
                                                  Rate
X1    3136A9ML9 $ 499,894,566  3.62        4.418  WAC IO   Not       Not
                                                           Offered   Offered
A1    3136A9MM7 $ 87,735,000   5.50        1.361  Fixed    S+24      101.00
                                                  Rate
A2    3136A9MN5 $ 405,353,650  9.79        2.301  Fixed    S+45      101.00
                                                  Rate
AB1   3136A9MP0 $ 11,964,000   5.50        1.233  Fixed    S+35      99.75
                                                  Rate
AB2   3136A9MQ8 $ 55,275,362   9.79        2.278  Fixed    S+57      99.75
                                                  Rate
X2    3136A9MR6 $ 560,328,012  8.61        0.646  WAC IO   Not       Not
                                                           Offered   Offered
AL    3136A9MS4 $ 89,511,907   14.07       2.987  Fixed    S+60     101.61
                                                  Rate
Total           $1,149,734,485

Lead Manager: Bank of America Merrill Lynch

Co-Managers: Jefferies and Morgan Stanley

^1 Reflects unpaid principal balance of multifamily Fannie Mae MBS issued
during the period.The number excludes Fannie Mae portfolio resecuritization
transactionsand conversions of adjustable-rate loans to fixed-rate loans and
DMBS securities to MBS securities.

^2 Includes Fannie Mae GeMS sold.

Certain statements in this release are forward-looking statements, including
statements about our expected issuances in the future. Actual outcomes may
differ materially from what is indicated by these statements as a result of
many factors, including market demand, macroeconomic and housing market
conditions, interest rates, GSE reform, and other factors described under
"Risk Factors" in our most recently filed Quarterly Report on Form 10-Q and
Annual Report on Form 10-K filed with the Securities and Exchange Commission
("SEC"). 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 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.

References in this release to dollar amounts and securities issued and/or
outstanding refer to unpaid principal balances and do not reflect market
valuation or other accounting adjustments.

Fannie Mae enables people to buy, refinance, or rent a home.

SOURCE Fannie Mae

Website: http://www.fanniemae.com
Contact: Andrew Wilson, +1-202-752-5168
 
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