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Fannie Mae prices $565M of mortgage-related securities

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Fannie Mae prices $565M of mortgage-related securities

Fannie Mae has priced a multifamily Delegated Underwriting and Servicing Real Estate Mortgage Investment Conduit, or DUS REMIC, with an unpaid principal balance of about $565.8 million under its Fannie Mae Guaranteed Multifamily Structures program.

All classes of the offering are guaranteed by Fannie Mae.

Collateral consists of 60 Fannie Mae DUS mortgage-backed securities in California, Texas and Michigan. The weighted average debt service coverage ratio is 1.51x, while the weighted average loan-to-value ratio is 66.3%.