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Multifamily Issuance Off at Fannie

Q2 issuance down 7% from Q1


July 11, 2013

By Mortgage Daily staff


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 DUS 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.

Fannie Mae profile

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