WASHINGTON, July 16, 2014 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its seventh Multifamily DUS(®) REMIC in 2014 totaling $1.14 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on July 11, 2014.

"Spreads on Agency CMBS continue to hover near the recent tights, as investor demand has expanded in the face of relatively short supply. The offered bonds on FNA 2014-M8 were very well received - we were over-subscribed in less than a day," said Josh Seiff, Fannie Mae Vice President of Multifamily Capital Markets. "M8 includes a group backed by Fixed +1(TM) collateral on the shorter-end and a longer group, structured from new production 10-year DUS MBS. We continue to find success with the flexibility of our GeMS program, which enables us to come to market consistently with structures that meet investor demand for Agency CMBS."

All classes of FNA 2014-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:



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

          FA                  $733,295,597              3.55            0.433   Floater/ WAC Cap     1mL+25           100.00
         ---                  ------------              ----            -----   ----------------     ------           ------

          SA                  $733,295,597              2.59            4.731      Inverse IO       1.75 ytf,          10.23

                                                                                                  100CPY
    ---                                                                                           ------

          A1                   $58,189,598              5.30            2.382        Fixed            S+32            101.00
         ---                   -----------              ----            -----        -----            ----            ------

          A2                  $305,856,690              9.80            3.110      Fixed/AFC          S+34            101.00
         ---                  ------------              ----            -----      ---------          ----            ------

         AB1                    $6,465,511              5.30            2.164        Fixed            S+38             99.50
         ---                    ----------              ----            -----        -----            ----             -----

         AB2                   $33,984,076              9.80            2.975        Fixed            S+40             99.00
         ---                   -----------              ----            -----        -----            ----             -----

          X2                  $404,495,875              8.67            0.494        WAC IO           J+100             3.29
         ---                  ------------              ----            -----        ------           -----             ----

        Total               $1,137,791,472
        -----               --------------




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


    UPB:                                                   $733,295,597

    Collateral:                 135 Fannie Mae DUS MBS

    Geographic Distribution:    CA (57.3%), TX (14.3%), WA (3.9%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                    1.95x

    Weighted Average

    Loan-to-Value (LTV):                                          61.0%



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


    UPB:                                                   $404,495,875

    Collateral:                 71 Fannie Mae DUS MBS

    Geographic Distribution:    TX (20.5%), CA (14.3%), WA (9.0%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                    1.45x

    Weighted Average

    Loan-to-Value (LTV):                                          70.6%



    Settlement Date:            July 31, 2014


    Lead Manager:               Deutsche Bank

    Co-Managers:                Citigroup and Wells Fargo

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2014-M8) 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.

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SOURCE Fannie Mae