WASHINGTON, DC—Fannie Mae has priced its fourth Multifamily DUS REMIC for the year, totaling $896.4 million under its Fannie Mae Guaranteed Multifamily Structures program. Separately, the GSE announced that it has issued approximately $3.5 billion of multifamily MBS in the first quarter of 2014, backed by new multifamily loans delivered by its lenders. It also resecuritized $3.3 billion of DUS MBS through the GeMSTM program in the first quarter of the year.
The former-the $896.4 million REMIC-as far as Fannie Mae transactions go, was completely straightforward. Ditto the latter, which were up by a slight $100 million year over year, Manny Menendez, senior vice president of Multifamily Capital Markets & Pricing, tells GlobeSt.com. This year, however, MBS issuance has dropped because market activity in general is down, he also notes.
The latest REMIC brought to market, though, points to ongoing demand for these securities despite blips in the market.
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