Fannie Mae priced its fifth Multifamily DUS REMIC this week. The offering, which totaled $789 million, went to market under its Guaranteed Multifamily Structures program.
Fannie Mae has been tweaking this program in recent months, using new managers, for example. This issuance had a new twist as well—the inclusion of shorter-term collateral in a separate tranche, Kimberly Johnson, vice president of Multifamily Capital Markets, explains to GlobeSt.com. “Having tranches with different maturities was very favorably received,” she says, “and it brought in new buyers.” The deal was subscribed at two-and-a-half times and three-times, depending on the tranche, she says.
Read more...GlobeSt.com - Latest Fannie Mae DUS REMIC Includes Shorter-Term Tranche - Daily News Article