WASHINGTON, Jan. 21, 2015 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its first Multifamily DUS(®) REMIC in 2015 totaling $1.22 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS(TM)) program on January 14, 2015.

"We saw strong demand for FNA 2015-M1 despite the tough market conditions. Rates are moving fast and there's a tremendous amount of new issue paper out there. Investors have a lot of choices - it is hard to get their focus - but this deal clearly did," said Josh Seiff, Fannie Mae's Vice President of Multifamily Capital Markets Trading. "No other securitized product has a comparable requirement for lenders to hold a first-loss piece - the DUS lender, the investor and Fannie Mae all have an interest in the strong performance of the underlying mortgage loans. This is evident in the performance of DUS MBS over the last twenty some years and you can see this in the resilience and liquidity of our GeMS deals in the market."

All classes of FNA 2015-M1 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
    ---                                                                                                             -----

        ASQ1                  $60,000,000                      2.03            0.782        Fixed         E+5                  100.00
        ----                  -----------                      ----            -----        -----         ---                  ------

        ASQ2                 $309,201,864                      2.94            1.626        Fixed        S+26                  101.00
        ----                 ------------                      ----            -----        -----        ----                  ------

         X1                  $369,201,864                      2.79            3.833        WAC IO    Not Offered   Not Offered
         ---                 ------------                      ----            -----        ------    -----------   -----------

         A1                   $99,809,000                      5.66            2.177        Fixed        S+46                  101.00
         ---                  -----------                      ----            -----        -----        ----                  ------

         A2                  $649,702,289                      9.61            2.532      Fixed/AFC      S+52                  101.00
         ---                 ------------                      ----            -----      ---------      ----                  ------

         AB1                  $13,610,000                      5.66            2.038        Fixed        S+56                   99.75
         ---                  -----------                      ----            -----        -----        ----                   -----

         AB2                  $88,596,085                      9.61            2.465      Fixed/AFC      S+60                   99.75
         ---                  -----------                      ----            -----      ---------      ----                   -----

         X2                  $851,717,374                      9.09            0.444        WAC IO    Not Offered   Not Offered
         ---                 ------------                      ----            -----        ------    -----------   -----------

        Total              $1,220,919,238
        -----              --------------




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


    UPB:                                                  $369,201,864

    Collateral:                 91 Fannie Mae DUS MBS

    Geographic Distribution:    NY (36%), CA (15%), PA (14%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                    1.55x

    Weighted Average

    Loan-to-Value (LTV):                                         59.7%



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


    UPB:                                                  $851,717,374

    Collateral:                 65 Fannie Mae DUS MBS

    Geographic Distribution:    CA (21%), VA (13%), FL (10%)

    Weighted Average

    Debt Service Coverage Ratio
     (DSCR):                    1.54x

    Weighted Average

    Loan-to-Value (LTV):                                         70.4%



    Settlement Date:            January 30, 2015


    Lead Manager:               Bank of America Merrill Lynch

    Co-Managers:                Citigroup and Goldman Sachs & Co.

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2015-M1) 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