Fannie Mae continues mortgage-backed securities deliveries

Fannie Mae noted that mortgage-backed securities deliveries rose during the third quarter.

Many property management companies who deal with multifamily properties may have received mortgage-backed securities during the third quarter, as Fannie Mae reported it continued to issue high levels during that period.

Overall, the government-sponsored enterprise issued close to $8.5 billion in multifamily mortgage-backed securities during the quarter, and these were backed by a heightened level of multifamily loan originations, the report explained. The first three quarters of the year experienced more than $22.3 billion in new multifamily mortgage-backed securities.

"A protracted, low interest rate environment has kept the borrowing rate below 4 percent, and consequently, originations have been robust," said Kimberly Johnson, vice president of multifamily capital markets for Fannie Mae.

There was also $4 billion in resecuritized delegated underwriting and servicing mortgage-backed securities by Fannie Mae. This was due to the GSE's Guaranteed Multifamily Structures program during the third quarter. The program gives cash flows with maturity levels of five to 10 years.

Fannie Mae added that nearly $5 billion of its multifamily mortgage securities portfolio was sold during the third quarter.

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