Fannie Mae Prices $896M REMIC; Issues $3.5BN MBS YTD

WASHINGTON, DC—Fannie Mae has priced its fourth Multifamily DUS REMIC for the year, totaling $896.4 million under its Fannie Mae Guaranteed Multifamily Structures program. Separately, the GSE announced that it has issued approximately $3.5 billion of multifamily MBS in the first quarter of 2014, backed by new multifamily loans delivered by its lenders. It also resecuritized $3.3 billion of DUS MBS through the GeMSTM program in the first quarter of the year.

The former-the $896.4 million REMIC-as far as Fannie Mae transactions go, was completely straightforward. Ditto the latter, which were up by a slight $100 million year over year, Manny Menendez, senior vice president of Multifamily Capital Markets & Pricing, tells GlobeSt.com. This year, however, MBS issuance has dropped because market activity in general is down, he also notes.