WASHINGTON, April 21, 2014 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its fourth Multifamily DUS(®) REMIC in 2014 totaling $896.4 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on April 11, 2014.

"Investors had to contend with some rate volatility while the book was building," said Josh Seiff, Fannie Mae Vice President of Multifamily Capital Markets. "Once rates stabilized a bit, we saw strong demand for shorter bonds backed by seasoned collateral and 10-year cash flows."

All classes of FNA 2014-M4 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              $44,048,000                     1.68            0.484     Fixed       E+5                100.00
        ----              -----------                     ----            -----     -----       ---                ------

        ASQ2             $396,429,273                     2.29            1.272     Fixed      S+17                101.00
        ----             ------------                     ----            -----     -----      ----                ------

         X1              $440,477,273                     1.75            4.321    WAC IO   Not offered Not offered
         ---             ------------                     ----            -----    ------   ----------- -----------

         A1               $62,122,000                     5.34            2.476     Fixed   Not offered Not offered
         ---              -----------                     ----            -----     -----   ----------- -----------

         A2              $339,099,000                     9.80            3.346     Fixed      S+49                101.00
         ---             ------------                     ----            -----     -----      ----                ------

         AB1               $8,472,000                     5.34            2.321     Fixed   Not offered Not offered
         ---               ----------                     ----            -----     -----   ----------- -----------

         AB2              $46,240,039                     9.80            3.205     Fixed      S+59                 99.00
         ---              -----------                     ----            -----     -----      ----                 -----

         X2              $455,933,039                     8.69            0.296    WAC IO      J+125                 2.17
         ---             ------------                     ----            -----    ------      -----                 ----

        Total            $896,410,312
        -----            ------------




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


    UPB:                                                         $440,477,273

    Collateral:                         103 Fannie Mae DUS MBS

    Geographic Distribution:            CA (38.4%), GA (7.6%), MD (6.7%)

    Weighted Average

    Debt Service Coverage Ratio (DSCR): 1.58x

    Weighted Average

    Loan-to-Value (LTV):                                                 65.6%



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


    UPB:                                                         $455,933,039

    Collateral:                         56 Fannie Mae DUS MBS

    Geographic Distribution:            CA (27.4%), TX (17.6%), MA (8.7%)

    Weighted Average

    Debt Service Coverage Ratio (DSCR): 1.41x

    Weighted Average

    Loan-to-Value (LTV):                                                 69.3%



    Settlement Date:                    April 30, 2014


    Lead Manager:                       Goldman Sachs & Co.

    Co-Managers:                        Citigroup and Morgan Stanley

For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2014-M4) 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