Fannie Issues $1 Billion Multifamily Securitization

Published May 21, 2013, 5:19 p.m. EDT

1 Min Read

Fannie Mae priced its fifth multifamily REMIC of the year on Tuesday totaling $1.02 billion.

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Fannie guaranteed all eight of the multifamily tranches in FNA 2013-M7 with respect to full and timely payment of interest and principal.

“We saw strong demand in FNA 2013-M7 at several points on the yield curve as Treasuries sold off and the curve steepened while the deal was in the market,” said Kimberly Johnson, Fannie Mae senior vice president of multifamily capital markets.

“The rising rate environment gives investors a chance to purchase bonds below par, which increased participation in the deal."

Goldman Sachs is the lead underwriter and Credit Suisse and Well Fargo are the co-managers.

Brian Collins

Reporter

Brian Collins covers the housing and mortgage market, including the Federal Housing Administration and the Department of Housing and Urban... Read full bio

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