WASHINGTON, Feb. 23, 2015 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its second Multifamily DUS(®) REMIC in 2015 totaling $1.15 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on February 12, 2015.

"The M3 performed well in this market and we believe it is because of the Fannie Mae Multifamily model," said Josh Seiff Fannie Mae's Vice President of Capital Markets and Trading. "Unlike a conduit, Fannie Mae shares risk with its DUS(®) lenders through the life of the loans - that model has worked for more than 25 years. We're also the largest Agency multifamily securitization platform. Investors clearly appreciate risk retention and experience. That showed in the way this deal cleared the market. We had more than three dozen investors in the deal, even though the market was crowded with other new issuance."

All classes of FNA 2015-M3 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 Average Life     Coupon (%)       Coupon Type    Spread        Offered

                                                                                                                      Price
    ---                                                                                                               -----

    FA                         $315,891,089                      3.10            0.392      Floater/      1mL+22                 100.00

                                                                                          WAC Cap
    ---                                                                                   -------

    SA                         $315,891,089                      2.14            4.777     Inverse IO   Not Offered   Not Offered
    ---                        ------------                      ----            -----     ----------   -----------   -----------

    A1                          $98,113,000                      5.44            2.301        Fixed        S+36                  101.00
    ---                         -----------                      ----            -----        -----        ----                  ------

    A2                         $639,223,000                      9.66            2.723        Fixed        S+50                  101.00
    ---                        ------------                      ----            -----        -----        ----                  ------

    AB1                         $13,380,000                      5.44            2.141        Fixed        S+45                   99.75
    ---                         -----------                      ----            -----        -----        ----                   -----

    AB2                         $87,166,295                      9.66            2.625        Fixed        S+55                   99.75
    ---                         -----------                      ----            -----        -----        ----                   -----

    X2                         $837,882,295                      8.66            0.388       WAC IO     Not Offered   Not Offered
    ---                        ------------                      ----            -----       ------     -----------   -----------

    Total                    $1,153,773,384
    -----                    --------------


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


    UPB:                                                          $315,891,089

    Collateral:                         54 Fannie Mae DUS MBS

    Geographic Distribution:            CA (58.4%), WA (7.8%), NY (6.4%)

    Weighted Average

    Debt Service Coverage Ratio (DSCR): 1.79x

    Weighted Average

    Loan-to-Value (LTV):                                                 61.5%




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


    UPB:                                                          $837,882,295

    Collateral:                         70 Fannie Mae DUS MBS

    Geographic Distribution:            CA (15.4%), VA (15.3%), WA (11.6%)

    Weighted Average

    Debt Service Coverage Ratio (DSCR): 1.74x

    Weighted Average

    Loan-to-Value (LTV):                                                 66.5%



    Settlement Date:                    February 27, 2015


    Lead Manager:                       Goldman Sachs & Co.

    Co-Managers:                        Deutsche Bank and Wells Fargo

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2015-M3) 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.

Visit us at: www.fanniemae.com/progress

Follow us on Twitter: http://twitter.com/FannieMae.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/fannie-mae-prices-115-billion-multifamily-dus-remic-fna-2015-m3-under-its-fannie-mae-gems-program-300039679.html

SOURCE Fannie Mae