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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (63893)	6/16/2006 9:53:26 AM
From: shades	Respond to of 110194

DJ Fannie Mae Launches Benchmark REMIC Today; Pricing June 21 DOW JONES NEWSWIRES (remics only have to have 50% asset backed stuff eh?) Fannie Mae (FNM) will launch its first benchmark real estate mortgage investment conduit Friday and price it on June 21. The Washington financial services company said it will offer $2 billion of Benchmark REMIC Trust 2006-B1 as a guaranteed maturity class with a final maturity date of June 25, 2016. The class will have a sequential pay structure, Fannie Mae said. The underlying mortgage-backed securities used to collateralize it will be Fannie Mae 30-year 6% coupon mortgage-backed securities with a 6.564% gross weighted average coupon, 350-month weighted average maturity and eight-month weighted average loan age. In April, Fannie Mae said it was launching a benchmark REMIC program. It said it planned to sell up to two benchmark REMICs per quarter, and each deal would have a minimum size of $1 billion. Fannie Mae shares were down 67 cents, or 1.4%, at $47.54 shortly after the open. -Sara Leitch; 201-938-5400; AskNewswires@dowjones.com Order free Annual Report for Fannie Mae Visit djnewswires.ar.wilink.com or call 1-888-301-0513 (END) Dow Jones Newswires June 16, 2006 09:45 ET (13:45 GMT)