Fannie Mae issued $9.1B in multifamily MBS in 3Q14

Total volume nearly doubles 2Q14 issuance

Fannie Mae issued about $9.1 billion of multifamily MBS in the third quarter backed by new multifamily loans delivered by its lenders.

This was nearly double the volume issued in the second quarter of 2014. 

“We are extremely pleased to report approximately $9.1 billion in Fannie Mae multifamily MBS for the third quarter,” said Hilary Provinse, Senior Vice President for Multifamily Customer Engagement, Fannie Mae.  “With the continued solid performance of our multifamily MBS and steady multifamily fundamentals, the third quarter presented a great opportunity for Fannie Mae to provide increased liquidity to the market.”

The company’s DUS MBS securities provide market participants with highly predictable cash flows and call protection in defined maturities of five, seven and ten years. 

Fannie Mae’s 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 Mae’s multifamily REMICs and multifamily Mega securities.

Highlights of Fannie Mae’s multifamily activity in the third quarter of 2014 include the following:

  • New multifamily MBS business volumes in the third quarter of 2014 totaled approximately $9.1 billion. 
  • Issuance of Fannie Mae’s structured multifamily securities created from collateral selected by Fannie Mae Capital Markets totaled $3.1 billion in the third quarter of 2014.  This issuance volume was generated from three Fannie Mae GeMS REMIC transactions.  Through the third quarter of 2014, we have issued approximately $9.5 billion in GeMS REMICs.  In addition, Fannie Mae issued one multifamily REMIC backed by $622.2 million of dealer-contributed DUS MBS in the third quarter of 2014, adding to the liquidity of Fannie Mae DUS MBS.
  • Fannie Mae Capital Markets sold $3.3 billion of Fannie Mae multifamily mortgage securities from its portfolio in the third quarter of 2014.

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