The seven mortgage loans that underlie the seven corresponding Fannie Mae MBS pools listed below are secured by mortgaged properties that have been placed in receivership at the request of the US Securities and Exchange Commission (the "SEC") by the United States District Court for the District of Utah. The receivership is part of an enforcement action brought by the SEC against parties that own or control a number of multifamily properties, including the seven properties securing the loans listed below. At this time, Fannie Mae is not aware of any other mortgage loans backing Fannie Mae MBS that are affected by the receivership.
Fannie Mae will continue to pass-through accrued interest and scheduled principal on the related MBS for as long as the underlying mortgage loans remain current. In the event any mortgage loan becomes delinquent and remains so for four consecutive payments, Fannie Mae will follow its standard procedure of repurchasing the loan from its MBS trust and paying the MBS holders all outstanding principal and accrued interest through the date of repurchase as described in Fannie Mae’s Multifamily MBS Prospectus. Fannie Mae provides a monthly report of loans backing Multifamily MBS that are 60 or more days delinquent. The MBS Loan Level Delinquency 60-Plus Days report can be accessed on our website. In addition, at-issuance disclosure and ongoing loan level performance data for individual Multifamily MBS can be obtained on our Multifamily Securities Locator Service.
Investors in any of the affected MBS pools may contact Fannie Mae’s Fixed-Income Securities Marketing Help Line at 1-800-237-8627.
Affected Mortgage Loans and Multifamily MBS
Fannie Mae Loan No. MBS Pool No. Property Name
1689119978 386303 Abbie Lakes Apartments
1708062332 957929 Jefferson Chase Apartments
1710499207 463891 Meadow Walk Apartments
8300001955 389120 Oak Hill Apartments
1712963846 466860 Cleburne Terrace
1713846490 467968 Encinito Apartments
1713254225 467174 The Charlestonian at Lake Charles
Page originally published: 02/16/12