Fannie Mae Issues $6.7B of Multifamily MBS in Q2
In a second-quarter close-out, Fannie Mae has delivered $6.7 billion of multifamily mortgage-backed securities through its lenders. The year-to-date issuance now totals $13.8 billion.
Also, Fannie Mae resecuritized $1.2 billion of DUS MBS loans through the Fannie Mae GeMS™ program in the second quarter. The agency also sold about $1.6 billion of multifamily mortgage securities in Q2.
"Increasing property values, solid operating incomes, and a low interest rate environment are all creating tailwinds," said Kimberly Johnson, vice president of multifamily capital markets for Fannie Mae. "Issuance and resecuritization volumes remain elevated as the rental housing market continues its expansion and credit remains strong." She noted there were seven Multifamily REMICS issued in the first six months of the year.
The DUS MBS securities were issued with highly predictable cash flows and call protection in maturities of five, seven and 10 years.
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