Fannie Mae Multifamily Provides Consistent MBS Issuance In Q1

Posted by Patrick Barnard on April 21, 2014 No Comments
Categories : Residential Mortgage

In the first quarter of this year, Fannie Mae issued approximately $3.5 billion of multifamily mortgage-backed securities (MBS), backed by new multifamily loans delivered by its lenders, according to the government-sponsored enterprise (GSE).

Fannie Mae also re-securitized $3.3 billion of Delegated Underwriting and Servicing (DUS) MBS through its Guaranteed Multifamily Structures (GeMSTM) program in the first quarter. This issuance volume is composed of three Fannie Mae GeMS real estate mortgage investment conduit transactions. Total GeMS issuance volumes in the first quarter of 2012 and 2013 were $2.6 billion and $3.2 billion, respectively.

The company says its DUS MBS securities provide market participants with highly predictable cash flows and call protection in defined maturities of five, seven and 10 years, and the GeMS program consists of structured multifamily securities created from collateral specifically selected by Fannie Mae Capital Markets.

Fannie Mae Capital Markets sold approximately $3.9 billion of Fannie Mae multifamily mortgage securities from its portfolio in the first quarter of this year, the GSE reports.

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