Fannie Mae has priced $796.7 million of multifamily delegated underwriting and servicing conduits under its Fannie Mae Guaranteed Multifamily Structures Program for real estate management investment conduits, or REMIC.
The group one collateral consists of 51 Fannie Mae underwriting and servicing mortgage-backed securities in Texas, North Carolina and Washington with an unpaid principal balance of $422.3 million. The weighted-average debt service coverage ratio is 2.77x, and the weighted-average loan-to-value is 70.3%
The group two collateral consists of 61 Fannie Mae underwriting and servicing MBS in Texas, California and Florida with an unpaid balance of $374.4 million. The weighted-average debt service coverage ratio is 1.66x, and the weighted-average loan-to-value is 66.8%.
The settlement date is Dec. 29.
Goldman Sachs & Co. is the lead manager. Co-managers are J.P. Morgan, Morgan Stanley and Loop Capital Markets.