Fannie Mae has introduced Guaranteed Multifamily Structures (Fannie Mae GeMS), an expanded multifamily mortgage-backed securities (MBS) execution that will include DUS Megas, DUS REMICs and syndicated DUS Megas. Syndicated Mega deals will be managed by broker-dealers and offered in issuance sizes similar to DUS REMIC transactions.
Fannie Mae says the expansion builds on the company's DUS REMIC issuances, providing additional Fannie Mae GeMS products with similar features and liquidity.
‘The introduction of Fannie Mae GeMS syndicated Mega offerings supports our commitment to provide transparency, consistency and liquidity to multifamily investors in the fixed-income markets,’ says Kimberly H. Johnson, Fannie Mae's vice president of capital markets.
Fannie Mae explains that the GeMS execution is designed to be more nimble than conduit-style deals, and provide the flexibility to enable Fannie Mae to quickly address reverse inquiries. Other new structures are expected to join the multifamily structured-product suite this year, the company adds.
SOURCE: Fannie Mae
