Fannie Mae Prices Its First Green Multifamily DUS REMIC

Fannie Mae, Washington, D.C., priced its first GeMS REMIC backed exclusively by its Green MBS collateral.

“To our knowledge, this is the first issuance of its kind in the U.S. market,” Fannie Mae said.

The FNA 2017-M10 transaction is the firm’s eighth Multifamily Delegated Underwriting and Servicing Real Estate Mortgage Investment Conduit in 2017 under its Fannie Mae Guaranteed Multifamily Structures program.

Fannie Mae issued its first Green REMIC tranches as part of a larger GeMS deal (FNA 2017-M2 A1 and A2) in February. This month’s M10 transaction included two tranches, the AV1 and the AV2, both backed by 20 seven-year loans originated under the Fannie Mae Green Financing Business and securitized as Green DUS mortgage-backed securities.

The 20 loans are secured by multifamily properties that have either achieved a Green Building Certification such as LEED, ENERGY STAR or Green Globes or targeted a 20 percent or greater reduction in energy or water consumption.

Fannie Mae guarantees all classes of FNA 2017-M10 with respect to full and timely payment of interest and principal.

Freddie Mac Prices $315M Multifamily Small Balance Loan Securitization
Freddie Mac, McLean, Va., priced its SB36 offering, a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust.

Freddie Mac expects to guarantee $315 million in Multifamily SB Certificates (SB36 Certificates), which should settle on or about August 23. Freddie Mac Small Balance Loans generally range from $1 million to $6 million and are backed by properties with five or more units. This is the eleventh SB Certificate transaction in 2017


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