Fannie Mae Prices $1.32B Multifamily DUS REMIC Under Its Fannie Mae GeMS Program

Fannie Mae (OTC Bulletin Board: FNMA) priced its tenth Multifamily DUS® REMIC in 2014 totaling $1.32 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on October 10, 2014. "FNA 2014-M12 is our second securitization of ARM 7-6™ collateral. The ARM 7-6 is an innovative product that allows us to provide competitive floating-rate funding to multifamily borrowers of all sizes. The flexibility is great for borrowers, and the deal was well received by investors," said Josh Seiff, Fannie Mae Vice President of Multifamily Capital Markets. All classes of FNA 2014-M12 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal. The structure details for the multi-tranche offering are in the table below: Class Original Face Weighted Average Life Coupon (%) Coupon Type Spread Offered Price FA $719,949,655 5.67 0.453 Floater/AFC S+30 100.00 FX $719,949,655 0.27 1.318 WAC IO Not Offered Not Offered ASV1 $53,300,000 3.52 1.928 Fixed S+28 101.00 ASV2 $548,180,025 6.73 2.614 Fixed/AFC S+38 101.00 X2 $601,480,025 5.99 0.393 WAC IO Not Offered Not Offered Total $1,321,429,680 Group 1 Collateral UPB: $719,949,655 Collateral: 105 Fannie Mae DUS MBS Geographic Distribution: TX (32.0%), CA (22.4%), TN (7.7%) Weighted Average Debt Service Coverage Ratio (DSCR): 1.93x Weighted Average Loan-to-Value (LTV): 70.2% Group 2 Collateral UPB: $601,480,025 Collateral: 52 Fannie Mae DUS MBS Geographic Distribution: IL (20.6%), CA (17.6%), NY (9.1%) Weighted Average Debt Service Coverage Ratio (DSCR): 1.73x Weighted Average Loan-to-Value (LTV): 67.9% Settlement Date: October 30, 2014 Lead Manager: Credit Suisse Co-Managers: Citigroup and Deutsche Bank Securities For additional information, please refer to the Fannie Mae GeMS REMIC Term Sheet (FNA 2014-M12) available on the Fannie Mae GeMS Archive page on www.fanniemae.com.