WASHINGTON, DC-Fannie Mae has priced its eight multifamily DUS REMIC for the year, totaling $1.09 billion. This particular REMIC was a blend of fixed-rate seasoned collateral and a new feature--a discount pass-through tranche, explains Josh Seiff, Fannie Mae Director of Multifamily Capital Markets. It was, he says, a nice match-up between lender supply and investor demand.

"Group 1 is backed by fixed-rate seasoned collateral which we structured into a capped floater and a par pass-through," he says. "Group 2 is backed by new production ten-year bonds which were structured into the multifamily desk's first discount pass-through tranche."

Separately, Fannie Mae has been marketing its inaugural "risk-sharing" mortgage-backed securities for single-family assets earlier this month. The purpose of this MBS--a variation of which Freddie Mac launched in July--is to address the Federal Housing Finance Agency's mandate in its the 2013 Conservatorship Scorecard for the GSEs to farm out some of the risk in their portfolios. Under the structure Fannie Mae sells off some of the default risk to private investors.

Last week, Fannie Mae held a webinar with potential credit investors in anticipation of its first credit risk sharing transaction through its Connecticut Avenue Securities program.

These securities will include the GSE's strongest-performing book of business—that is, newly-originated, qualifying mortgage loans that are underwritten "using strict credit standards and enhanced risk controls" that were implemented post-housing crisis.