Welcome!

Linux Containers Authors: Yeshim Deniz, Pat Romanski, Elizabeth White, Liz McMillan, Vaibhaw Pandey

News Feed Item

Fannie Mae's Multifamily MBS Issuance Jumped 45 Percent in 2011

Fannie Mae GeMS™ Issuance Reached $6 billion Milestone in the Program's First Year

WASHINGTON, Jan. 24, 2012 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced that the company issued $7.2 billion multifamily MBS(1) in the fourth quarter of 2011, the highest quarterly issuance since Fannie Mae began reinvigorating its multifamily MBS business in 2009.  Total new issuance for 2011 was $23.8 billion, up from $16.4 billion in 2010.  Fannie Mae also resecuritized $6.0 billion of DUS MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program in 2011.

"Market activity in our multifamily securities is clearly gaining momentum.  Tradable float, the volume of securities available to investors, has increased significantly over the past few years.  Fannie Mae's multifamily MBS outstanding has grown to over $100 billion.  As volumes increase and liquidity rises, we expect market participants will focus on Agency multifamily securities in the coming year," said Kimberly Johnson, Fannie Mae Vice President of Multifamily Capital Markets.

Fannie Mae is the market leader in financing U.S. multifamily mortgages and has traditionally been a leader in this market.  The company's DUS MBS securities provide market participants with easily-modeled cash flows and call protection in defined maturities of 5-, 7- and 10-years.  Fannie Mae's GeMS program consists of structured multifamily securities created from Fannie Mae's portfolio of mortgage securities.  Features of Fannie Mae GeMS have included block size transactions, collateral diversity and pricing close to par through Fannie Mae's multifamily REMICs (ACES®) and multifamily Mega securities.

Highlights of Fannie Mae's multifamily activity in 2011 include the following:

1)  MULTIFAMILY MBS BACKED BY NEW MULTIFAMILY ACQUISITIONS
New multifamily MBS business volumes in the fourth quarter of 2011 totaled $7.2 billion.  Total 2011 new issuance volumes reached $23.8 billion

2)  FANNIE MAE GeMS ISSUANCE
Issuance of Fannie Mae's structured multifamily securities created from its portfolio totaled $1.9 billion in the fourth quarter of 2011, including $1.8 billion in GeMS REMICs and $0.1 billion in GeMS Megas.  For full-year 2011, Fannie Mae issued $6.0 billion in GeMS securities, including $4.4 billion in GeMS REMICs and $1.6 billion in GeMS Megas.

3)  FANNIE MAE SALES
Fannie Mae Capital Markets sold $10.6 billion of multifamily mortgage securities in 2011, including $2.8 billion in the fourth quarter.(2)

For additional information about Fannie Mae's multifamily MBS products and issuance please refer to Basics of Multifamily MBS and our MBSenger Publication "Over Twenty Years of Multifamily Mortgage Financing Through Fannie Mae's DUS Program" on fanniemae.com.

Fannie Mae GeMS REMIC Issuance in the Fourth Quarter of 2011

FNA 2011-M7, Priced on October 13, 2011

Class

CUSIP

Original Face

Weighted

Average Life

Coupon

Coupon

Type

Pricing

Spread

Offered

Price

A1

3136A1F67

$90,000,000

4.95

2.049%

Fixed

Rate

+55

100.50

A2

3136A1F75

$418,140,000

6.60

2.578%

Fixed

Rate

+70

100.50

AB

3136A1F83

$69,281,000

6.31

2.508%

Fixed

Rate

+82

99.75

X

3136A1F91

$577,421,000

6.31

1.331%

Interest

Only

Not  

offered

Not

offered

Total

 

$577,421,000

 

 

 

 

 

Lead Manager:     Credit Suisse
Co-Manager:  Citigroup

FNA 2011-M8, Priced on November 8, 2011

Class

CUSIP

Original Face

Weighted

Average Life

Coupon

Coupon

Type

Pricing

Spread

Offered

Price

A1

3136A1W76

$75,001,834

5.40

1.977

Fixed

Rate

+53

100.50

A2

3136A16X8

$397,772,166

9.70

2.922

Fixed

Rate

+72

100.50

AB

3136A16Y6

$64,469,874

9.02

2.905

Fixed

Rate

+88

99.75

FA

3136A16Z3

$181,799,413

9.02

1mo

L+70

7.0% Cap

Floating

Rate

+70

100.00

SA

3136A17A7

$181,799,413

8.59

n/a

Inverse

Interest

Only

Not

offered

Not

offered

X

3136A17B5

$719,043,287

8.60

n/a

Interest

Only

Not  

offered

Not

offered

Total

 

$719,043,287

 

 

 

 

 

Lead Manager:     Morgan Stanley
Co-Manager:        Amherst Securities and Citigroup

FNA 2011-M9, Priced on December 15, 2011

Class

CUSIP

Original Face

Weighted

Average Life

Coupon

Coupon

Type

Pricing

Spread

Price

A1

3136A2W33

 

$101,252,108

 

6.66

2.322

Fixed

Rate

+55

100.50

A2

3136A2W41

 

$212,725,692

 

8.87

2.821

Fixed

Rate

+70

100.50

AB

3136A2W58

 

$42,815,155

 

8.16

2.773

Fixed

Rate

+85

99.75

FA

3136A2W66

 

$155,998,913

 

8.19

1mo

L+65

7.0% Cap

Floating

Rate

+65

100.00

SA

3136A2W74

 

$155,998,913

 

7.83

n/a

Inverse

Interest

Only

Not

offered

Not

offered

X

3136A2W82

 

$512,791,868

 

7.82

n/a

Interest

Only

Not

offered

Not

offered

Total

 

$512,791,868

 

 

 

 

 

Lead Manager:     Bank of America Merrill Lynch
Co-Managers:      Amherst Securities and J.P. Morgan

1) Reflects unpaid principal balance of multifamily Fannie Mae MBS issued during the period. The number excludes Fannie Mae portfolio securitization transactions and conversions of adjustable-rate loans to fixed-rate loans and DMBS securities to MBS securities.
2) Includes GeMS sold

Certain statements in this release are forward-looking statements, including statements about our expected issuances in the future and expected increases in investments by market participants in Agency multifamily securities.  Actual outcomes may differ materially from what is indicated by these statements as a result of many factors, including market demand, macroeconomic and housing market conditions, interest rates, GSE reform, and other factors described under "Risk Factors" in our Multifamily MBS Prospectus dated October 1, 2010 and our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC").  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 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.

References in this release to dollar amounts and securities issued and/or outstanding refer to unpaid principal balances and do not reflect market valuation or other accounting adjustments.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

Resource Center: 1-800-732-6643

SOURCE Fannie Mae

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.