Fannie Mae's second multifamily DUS REMIC of the year drew several new investors that one of its executives said were attracted by the deal's relatively strong debt-service coverage ratio, LTV and diversified collateral pool.
“We saw about a dozen new accounts put in orders and we also saw growing interest in the A/B tranche with multiple orders for that particular piece,” Kimberly Johnson, vice president of multifamily capital markets, told ASR sister publication National Mortgage News.
Wells Fargo Securities was the lead manager on the $977 million deal. Co-managers included JPMorgan and Morgan Stanley.
The multifamily market has been on fire of late, and both GSEs continue to be a key source of liquidity for mortgage banking firms and depositories originating the product.
