WASHINGTON, DC—Fannie Mae has priced its fourthMultifamily DUS REMIC for the year, totaling$896.4 million under its Fannie Mae GuaranteedMultifamily Structures program. Separately, the GSE announced thatit has issued approximately $3.5 billion ofmultifamily MBS in the first quarter of 2014, backed by newmultifamily loans delivered by its lenders. It also resecuritized$3.3 billion of DUS MBS through the GeMSTM program in the firstquarter of the year.

|

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

|

The latest REMIC brought to market, though, points to ongoingdemand for these securities despite blips in the market.

|

"Investors had to contend with some rate volatility while thebook was building," according to Josh Seiff,Fannie Mae Vice President of Multifamily Capital Markets. "Oncerates stabilized a bit, we saw strong demand for shorter bondsbacked by seasoned collateral and 10-year cash flows."

|

"We are very pleased we are able to continue to issue these on aregular schedule," Menendez says.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.