During the first nine months of the year Fannie Mae issued $16.7 billion of multifamily MBS, already surpassing its volume for all of last year.
Kimberly Johnson, vice president of multifamily capital markets for the GSE, said in a new issuance report that the volatile market environment has continued to drive demand for agency commercial MBS.
“We are definitely on pace to exceed last year,” she told ASR's sister publication, National Mortgage News. “We've already gotten this year to a level that is comparable to last year.”
Johnson said that in addition to relatively strong issuance, trading activity has been particularly notable due to both the market environment and the addition of different product options such as guaranteed multifamily structures. “We've seen trading activity of over $28.6 billion,” she said. “It really demonstrates the accessibility of our product.”
Year to date Fannie has completed $4.1 billion of guaranteed multifamily structures. However these deals are resecuritizations of previously issued bonds, and are not included in the $16.7 billion year-to-date figure.