Fannie Mae Prices Green Multifamily DUS REMIC as Part of GeMS Program


Fannie Mae has priced a $781 million Green Multifamily DUS REMIC under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program. FNA 2022-M1G marks the second Fannie Mae GeMS issuance of 2022.

“In a week marked by rate volatility and widening spreads, we are pleased with the execution of the M1G,” states Dan Dresser, senior vice president of multifamily capital markets and pricing. “The M1G is backed by two groups of fixed-rate, green MBS collateral – 7-year and 10-year. Through this offering, we are able to provide investors with green investment opportunities across the yield curve.”

Now in the second decade of its Multifamily Green Financing business, Fannie Mae remains committed to generating positive environmental and social impact through its two Multifamily Green products: the Green Building Certification (GBC) program and Green Rewards, an energy- and water consumption-reduction program. Combined, Fannie Mae has issued over $102 billion of Multifamily MBS backed by these financing products. Through the GeMS program, Fannie Mae has re-securitized into REMICs an additional $14 billion backed by Green MBS.

“The 2022-M1G marks our 19th GeMS issuance backed by Green MBS collateral and is the first issued since Fannie Mae reached the $100 billion Green MBS milestone at the end of 2020,” states Lisa Bozzelli, senior director of multifamily capital markets. “Through products like our Green Rewards Program, Fannie Mae continues to support the renovation of existing housing stock with energy- and water-efficiency improvements that aim to reduce both the impact of the buildings on the environment and provide cost savings for tenants and borrowers.”

Photo by Alexander Andrews on Unsplash

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