Fannie Mae prices $381M multifamily social DUS REMIC

Fannie Mae priced a multifamily social delegated underwriting and servicing real estate mortgage investment conduit, or DUS REMIC, totaling $381 million under its Fannie Mae Guaranteed Multifamily Structures program on June 23.

All classes of the offering are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal.

The group one collateral has an unpaid principal balance of $33.8 million and consists of six Fannie Mae DUS mortgage-backed securities in Texas, Missouri and Michigan. The weighted average debt service coverage ratio is 1.89x, and the weighted-average loan-to-value is 74.5%.

The group two collateral has an unpaid principal balance of $347.4 million and consists of 22 Fannie Mae social DUS MBS in New Jersey, Florida and Minnesota. The weighted average debt service coverage ratio is 1.52x, and the weighted-average loan-to-value is 71.5%.