Multifamily Green MBS
Fannie Mae Multifamily Green MBS is a unique type of Multifamily DUS MBS, which is generally a fixed-income single asset security backed by one loan and one property, providing the investor insight into both the environmental and financial attributes of the asset. In addition to Green MBS, our DUS business allows multiple Green MBS to be packaged together and re-securitized into structured products, like Fannie Megas® (single class pass-through structures) or multiclass Real Estate Mortgage Investment Conduits (REMICs). The REMICs and Megas created from DUS MBS owned by Fannie Mae's Multifamily Capital Markets Desk are called Fannie Mae GeMS™ (Guaranteed Multifamily Structures).
Our Green Bond issuances are backed by properties with Green Building Certifications and existing U.S. rental housing stock that is retrofit to become more energy- and water-efficient, resulting in more affordable homes for families and individuals and more cost-effective properties for owners to operate.
Eligible Properties
Multifamily properties accessing Fannie Mae Green Financing must either:
- Possess a nationally recognized, current Green Building Certification and/or
- Make property improvements that target reductions in energy and/or water use.
Fannie Mae requires owners participating in the Green Bond Business to report the property's annual ENERGY STAR® score for tracking of energy performance over the life of the loan as well as the EPA Water Score to gauge the amount of water savings on an annual basis. Learn more about our Green Measurement and Verification Service.
Positive Triple Bottom Line Impact
We measure success by the positive "Triple Bottom Line" impact in our communities—financial, social, and environmental benefits to property owners, renters, lenders, and investors.
- Financial: Lower credit risk, higher cash flows, and higher property value
- Social: Greater affordability and higher quality, healthier, more durable housing
- Environmental: Lower use of energy and water resources, and greater resiliency
We focus on transparency of these benefits through our at-issuance and ongoing disclosures as well as the publication of our annual Green Bond Impact Report.
Multifamily Green Bonds Issuance
Multifamily Green Bond issuance information can be accessed on DUS Disclose®, our Multifamily disclosure platform.
Access DUS Disclose, Multifamily Disclosure Platform
The Green and Social Reports and Data Quick Reference Guide, available in the DUS Disclose Learning Center, provides a walk-through on how to export this data.
Impact Reporting
Rigorous standards, transparency, and accountability to investors are the foundations of Fannie Mae’s Green Bonds — and are critical to our goal of advancing an active and growing global green bond market. That is why we are committed to providing comprehensive, highly transparent disclosures about our securitization process and the estimated environmental, social, and financial impacts of our Green Bonds. The detailed requirements of our green lending platform enable us to estimate the projected environmental impact of each Green MBS and Green REMIC CUSIP.
Shaping a greener housing market
Learn more about the environmental and social impacts of our green and social bonds.
S&P Global Shades of Green Second Opinion
The Multifamily Green Bond Framework received a Light Green Second Opinion from S&P Global Shades of Green, a leading global provider of green ratings for bonds. Shades of Green Second Opinions are independent, research-based evaluations of green bond investment frameworks to determine the environmental robustness of green bonds and offer investors better insight into the environmental quality of these bonds. Shades of Green recognized that Fannie Mae's multifamily green MBS business aligns with the International Capital Markets Association's Green Bond Principles, establishing our green MBS as certifiable green investments.
