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WASHINGTON, April 19, 2021 /PRNewswire/ Fannie Mae (OTCQB: FNMA) priced an $879 million Multifamily DUS
® REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on April 14, 2021. FNA 2021-M11 marks the fifth Fannie Mae GeMS issuance of 2021. We started the second quarter with an $879 million 10-year fixed-rate GeMS deal, building on the $21.5 billion in DUS issuance in Q1 2021, said Dan Dresser, Senior Vice President, Multifamily Capital Markets & Pricing. This first quarter saw spreads continue to grind tighter despite the solid volumes; multifamily borrowers have benefitted from approximately a 30-basis-point tightening of spreads from pre-COVID levels, and investors continue to enjoy the strong underwriting of the DUS program. The M11, for example, offered investors a collateral pool with properties from 20 states, all while maintaining solid credit quality with a weighted average debt-service coverage ratio of 2.27
Fannie Mae Priced $879 Million Multifamily DUS REMIC (FNA 2021-M11) Under Its GeMS Program
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Fannie Mae Prices $715 Million Green Multifamily DUS REMIC (FNA 2021-M1G) Under Its GeMS Program
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