Fannie Mae Prices Fourth GeMS of 2022


Fannie Mae has priced a $736 million Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program. FNA 2022-M8 marks the fourth Fannie Mae GeMS issuance of 2022.

“With the M8, we were able to include a small group of our ARM 7-6 collateral, which is a 7-year, SOFR-based floater with a 6 percent cap on the pass-through rate,” states Dan Dresser, senior vice president of multifamily capital markets and pricing for Fannie Mae.

“This product enables smaller borrowers who may not want to manage their own interest rate cap to participate in the popular floating-rate market,” continues Dresser. “The M8 had plenty of competition this week with the shortened holiday schedule, and we are grateful that our investors were able to focus on the floating-rate class as well as the traditional 10-year tranches.”

All classes of FNA 2022-M8 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 can be found here.

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