Beginning in February 2012, Fannie Mae will introduce a number of enhancements to the at-issuance disclosure we provide for our Multifamily MBS. The following fields will be available on the New Issues Loan and Collateral Statement (NILCS), the Schedule of Pool and Loan Information (Schedule A) for individual MBS, as well as the user interface and the Download All and Export files on the Multifamily Securities Locator Service:
In addition, a new section for footnotes that are published on the Schedule of Pool and Loan Information will be included on the NILCS file. Please review the NILCS file layout for the enhanced file layout.
Beginning with March 2012 MBS issuances, the Debt Service Coverage Ratio (DSCR) disclosed at issuance will be the actual, rather than the underwritten DSCR. This change aligns with market practices, and does not impact securities issued prior to March 2012. For securities issued prior to March 2012, Fannie Mae only disclosed the underwritten DSCR at issuance. Refer to the DSCR Primer for product-specific information and sample calculations.
Investors may contact our Fixed-Income Securities Helpline at 1-800-BEST-MBS (1-800-237-8627) if they have questions about this announcement.
Page originally published: 12/20/11
Page last revised: 01/31/12