Fannie Mae's second multifamily DUS REMIC of the year drew several new investors that one of its executives said were attracted by the deal's relatively strong debt-service coverage ratio, LTV and diversified collateral pool.
“We saw about a dozen new accounts put in orders and we also saw growing interest in the A/B tranche with multiple orders for that particular piece,” Kimberly Johnson, vice president of multifamily capital markets, told National Mortgage News.
Wells Fargo Securities was the lead manager on the $977 million deal. Co-managers included JP Morgan and Morgan Stanley.
The multifamily market has been on fire of late, and both GSEs continue to be a key source of liquidity for mortgage banking firms and depositories originating the product.
