WASHINGTON, DC Fannie Mae (FNMA/OTC) issued approximately $10.8 billion1 of multifamily MBS in the fourth quarter of 2012, backed by new multifamily loans delivered by its lenders. Total issuance for 2012 was $33.1 billion, which was up from $23.8 billion in 2011. Fannie Mae also resecuritized $2.2 billion of DUS® MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMSTM) program in the fourth quarter, bringing the total GeMS issuance for 2012 to $10 billion.
Market activity for our securities was robust in 2012 with total issuance topping $33 billion, said Kimberly Johnson, Senior Vice President of Multifamily Capital Markets, Fannie Mae. Issuance was particularly strong in the fourth quarter, in part due to the Feds aggressive bond-buying program, which has helped to keep borrowing costs at record lows. Private-sector lending has shown signs of growth as well, adding liquidity for all market participants.
The companys DUS MBS securities provide market participants with highly predictable cash flows and call protection in defined maturities of five, seven and ten years. Fannie Maes GeMS program consists of structured multifamily securities created from collateral specifically selected by Fannie Mae Capital Markets. Features of Fannie Mae GeMS have included block size transactions, collateral diversity and pricing close to par through Fannie Maes multifamily REMICs (ACES®) and multifamily Mega securities.
Highlights of Fannie Maes multifamily activity in the fourth quarter of 2012 include the following:
1) MULTIFAMILY MBS BACKED BY NEW MULTIFAMILY ACQUISITIONS New multifamily MBS business volumes in the fourth quarter of 2012 totaled approximately $10.8 billion.
2) FANNIE MAE GeMS & ACES ISSUANCE Issuance of Fannie Maes structured multifamily securities created from collateral selected by Fannie Mae Capital Markets totaled $2.2 billion in the fourth quarter of 2012. This includes two Fannie Mae GeMS REMIC transactions. In addition, dealers issued three multifamily REMICs backed by $1.1 billion of DUS MBS in the fourth quarter of 2012, adding to the liquidity of Fannie Mae DUS MBS. The combined Fannie Mae GeMS and ACES issuance backed by DUS MBS was $13.9 billion in 2012.
3) FANNIE MAE SALES Fannie Mae Capital Markets sold approximately $1.9 billion of multifamily mortgage securities from its portfolio in the fourth quarter of 2012.2
Fannie Mae Multifamily Issuance Tops $10 Billion in Fourth Quarter
WASHINGTON, DC Fannie Mae (FNMA/OTC) issued approximately $10.8 billion1 of multifamily MBS in the fourth quarter of 2012, backed by new multifamily loans delivered by its lenders. Total issuance for 2012 was $33.1 billion, which was up from $23.8 billion in 2011. Fannie Mae also resecuritized $2.2 billion of DUS® MBS through its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMSTM) program in the fourth quarter, bringing the total GeMS issuance for 2012 to $10 billion.
Market activity for our securities was robust in 2012 with total issuance topping $33 billion, said Kimberly Johnson, Senior Vice President of Multifamily Capital Markets, Fannie Mae. Issuance was particularly strong in the fourth quarter, in part due to the Feds aggressive bond-buying program, which has helped to keep borrowing costs at record lows. Private-sector lending has shown signs of growth as well, adding liquidity for all market participants.
The companys DUS MBS securities provide market participants with highly predictable cash flows and call protection in defined maturities of five, seven and ten years. Fannie Maes GeMS program consists of structured multifamily securities created from collateral specifically selected by Fannie Mae Capital Markets. Features of Fannie Mae GeMS have included block size transactions, collateral diversity and pricing close to par through Fannie Maes multifamily REMICs (ACES®) and multifamily Mega securities.
Highlights of Fannie Maes multifamily activity in the fourth quarter of 2012 include the following:
1) MULTIFAMILY MBS BACKED BY NEW MULTIFAMILY ACQUISITIONS
New multifamily MBS business volumes in the fourth quarter of 2012 totaled approximately $10.8 billion.
2) FANNIE MAE GeMS & ACES ISSUANCE
Issuance of Fannie Maes structured multifamily securities created from collateral selected by Fannie Mae Capital Markets totaled $2.2 billion in the fourth quarter of 2012. This includes two Fannie Mae GeMS REMIC transactions. In addition, dealers issued three multifamily REMICs backed by $1.1 billion of DUS MBS in the fourth quarter of 2012, adding to the liquidity of Fannie Mae DUS MBS. The combined Fannie Mae GeMS and ACES issuance backed by DUS MBS was $13.9 billion in 2012.
3) FANNIE MAE SALES
Fannie Mae Capital Markets sold approximately $1.9 billion of multifamily mortgage securities from its portfolio in the fourth quarter of 2012.2
For additional information about Fannie Maes multifamily MBS products and issuance please refer to the Multifamily MBS webpage and the MBSenger® Publication Over Twenty Years of Multifamily Mortgage Financing Through Fannie Maes DUS Program on fanniemae.com.
Fannie Mae GeMS Issuance in the Fourth Quarter of 2012
FNA 2012-M17, Priced on November 9, 2012
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