Quarterly securitization volume for commercial real estate loans backed by apartment properties and guaranteed by the Federal National Mortgage Association slowed — though year-to-date activity increased from the same period in 2012.
From April 1 until June 30, issuance of Fannie Mae multifamily mortgage-backed securities totaled $7.6 billion, according to securitization data reported Thursday.
Barclays was the lead manager on $1.0 billion in issuances, while Goldman Sachs took the lead role on another $1.0 billion in securitizations and Citigroup was the lead manager on an $0.9 billion transaction.
The secondary lender’s issuances were off from the first quarter, when new multifamily business volume was $8.2 billion.
First-half multifamily MBS securitizations of $15.8 billion were higher, however, than the $13.9 billion in issuances during the first-half 2012.
In addition to the issuance of MBS backed by new loans, Fannie said it re-securitized $3.0 billion in DUSÂ MBS through its Fannie Mae Guaranteed Multifamily Structures during the second quarter.
The Washington, D.C.-based company reported that around $5.5 billion in multifamily mortgage securities were sold from its portfolio by its capital markets group during the most recent period.
