The securitization of apartment loans at the Federal National Mortgage Association fell during the first three months of this year. The company also unloaded some of its multifamily securities.
The Washington, D.C.-based company reported that it issued around $8.2 billion in multifamily mortgage-backed securities during the first quarter.
Apartment loan securitizations slowed from the fourth-quarter, when Fannie Mae issuance amounted to $10.8 billion.
But business was better than during the first-quarter 2012, when the issuance of Fannie Mae multifamily MBS totaled $7.1 billion.
The secondary lender said that it additionally re-securitized $3.2 billion in DUS MBS through the Fannie Mae Guaranteed Multifamily Structures program from Jan. 1 through March 31.
“Resecuritization activity has remained stable in the first quarter despite interest rate volatility, and we are on pace to exceed $10 billion in GeMS issuance this year,” Fannie Mae Senior Vice President of Multifamily Capital Markets Kimberly Johnson said in the report.
The announcement indicated that Fannie Mae Capital Markets sold around $3.7 billion in multifamily mortgage securities from its portfolio in the first quarter.
