Fannie Mae Launches Benchmark REMIC Issuance
Fannie Mae (NYSE:FNM) today will launch its third Benchmark REMIC(TM) issue. The company will offer $1.0 billion of Benchmark REMIC Trust 2007-B1 as a Guaranteed Maturity Class (GMC) with a final maturity date of December 28, 2020.
Benchmark REMIC 2007- B1 is expected to price on March 22, 2007. The GMC will have a sequential pay structure and the underlying MBS used to collateralize the Benchmark REMIC will be Fannie Mae 30-year 5.5 percent coupon MBS with a 6.057 percent gross weighted average coupon (GWAC), a 337-month weighted average maturity (WAM) and a 19-month weighted average loan age (WALA).
Citigroup Global Markets Inc., Greenwich Capital Markets Inc., and J.P. Morgan Securities Inc. will be the joint lead managers for Benchmark REMIC Trust 2007-B1. Co-managers of the transaction will be Banc of America Securities LLC, Lehman Brothers Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Information about Benchmark REMIC Trust 2007-B1, of which the GMC is a part, will be available in the prospectus supplement on the Prospectus and Related Documents page of the company’s Web site at http://www.fanniemae.com/mbs/documents/remic/remicprospectussupplements.jhtml
Copies of the prospectus supplement can also be obtained by writing or calling the underwriters at:
Citigroup Capital Markets, Inc.
Prospectus Department
Brooklyn Army Terminal
140 58th Street, Suite 8-G
Brooklyn, New York 11220
(Tel. 718-765-6732)
Greenwich Capital Markets, Inc.
Prospectus Department
600 Steamboat Road
Greenwich, CT 06380
(Tel. 203-618-2318)
J.P. Morgan Securities, Inc.
c/o ADP Financial Services
Prospectus Department
1155 Long Island Avenue
Edgewood, New York 11717
(Tel. 631-254-7307)
Fannie Mae is a New York Stock Exchange Company. It operates pursuant to a federal charter. Fannie Mae has pledged through its American Dream Commitment to expand access to homeownership for millions of first-time home buyers; help raise the minority homeownership rate to 55 percent; make homeownership and rental housing a success for millions of families at risk of losing their homes; and expand the supply of affordable housing where it is needed most. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com/.
Benchmark Notes is a registered mark and Benchmark REMIC is a trademark of Fannie Mae. Unauthorized use of these marks is prohibited.