Fannie Mae Prices Its First Green Multifamily DUS REMIC (FNA 2017-M10) Under Its Gems Program

Fannie Mae (FNMA/OTC) priced its first GeMS REMIC backed exclusively by its Green MBS collateral today. To our knowledge, this is the first issuance of its kind in the U.S. market. The FNA 2017-M10 transaction is the firm’s eighth Multifamily DUS® REMIC in 2017 under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™). In February of this year, Fannie Mae issued its first Green REMIC tranches as part of a larger GeMS deal (FNA 2017-M2 A1 and A2). This month’s M10 transaction included two tranches, the AV1 and the AV2, which are backed by 20 7-year loans originated under the Fannie Mae Green Financing Business and securitized as Green DUS MBS. 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 were targeting a 20% or greater reduction in energy or water consumption.

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Source: PR Newswire

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