WASHINGTON, Oct. 8, 2015 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its ninth Multifamily DUS(®) REMIC in 2015 totaling $1.02 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on October 7, 2015.

"After a few weeks of spreads increasing, investors stepped in to show that they saw value in GeMS structures at current levels," said Josh Seiff, Fannie Mae's Vice President of Capital Markets and Trading. "We had nearly 40 investors participating in the offering, including several new participants and a few that hadn't been involved in some time. We were able to price our 10-year A2 bonds at the tight end of the range - solid execution in a tough market."

All classes of FNA 2015-M13 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:



        Class Original Face                 Weighted        Coupon (%)       Coupon        Spread       Offered
                                          Average Life                         Type                       Price
    ---                                   ------------                         ----                       -----

         ASQ1                 $70,000,000              1.95            0.856      Fixed         S+10                  100.00
         ----                 -----------              ----            -----      -----         ----                  ------

         ASQ2                $254,128,796              2.95            1.646      Fixed         S+29                  101.00
         ----                ------------              ----            -----      -----         ----                  ------

          X1                 $324,128,796              2.29            4.084     WAC IO     Not Offered   Not Offered
         ---                 ------------              ----            -----     ------     -----------   -----------

          A1                  $72,495,266              5.46            2.353      Fixed         S+65                  101.00
         ---                  -----------              ----            -----      -----         ----                  ------

         A2FL                $200,000,000              9.60            0.866   Float / IRC      L+67                  100.00
         ----                ------------              ----            -----   -----------      ----                  ------

          A2                 $420,856,164              9.60            2.800       WAC          S+81                   99.40
         ---                 ------------              ----            -----       ---          ----                   -----

          X2                  $72,495,266              5.44            0.447     WAC IO     Not Offered   Not Offered
         ---                  -----------              ----            -----     ------     -----------   -----------

        Total              $1,017,480,226
        -----              --------------


    Group 1 Collateral
    ------------------



    UPB:                                                         $324,128,796

    Collateral:                         106 Fannie Mae DUS MBS

    Geographic Distribution:            NY (18.1%), CA (16.8%), TX (9.4%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                            1.33x

    Weighted Average

    Loan-to-Value (LTV):                                                62.3%


    Group 2 Collateral
    ------------------


    UPB:                                                         $693,351,430

    Collateral:                         46 Fannie Mae DUS MBS

    Geographic Distribution:            CA (36.8%), LA (12.9%), DE (9.0%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                            1.79x

    Weighted Average

    Loan-to-Value (LTV):                                                66.9%


    Settlement Date:                    October 30, 2015


    Lead Manager:                       Deutsche Bank Securities

    Co-Managers:                        Morgan Stanley

                                        Amherst Pierpont Securities

                                        Mischler Financial Group

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2015-M13) available on the Fannie Mae GeMS Archive page on www.fanniemae.com.

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 enables people to buy, refinance, or rent homes.

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SOURCE Fannie Mae