On July 20, 2013 Fannie Mae will enhance our at-issuance and on-going disclosures for Multifamily Mortgage-Backed Securities (MBS). These enhancements will improve transparency for Multifamily MBS backed by adjustable rate mortgages (ARMs) which employ the Actual/360 (A/360) day count convention for payment of interest. The following will be impacted by this enhancement.
For Multifamily ARM Actual/360 pools, our Multifamily Securities Locator Service (MF SLS) will now provide clearly labeled ARM Actual/360 pass-through rates and note rates as well as the currently available 30/360 equivalent pass-through rates. This data will be available on the "Pool Information" tab and the "Loan Information" tab of MF SLS.
For ARM Actual/360 pools, the following two additional data fields will be appended to the ends of the "Download All Active DUS MBS (.txt)" and "Download all Active NT MBS (.txt)" files available on MF SLS:
Specific definitions for these disclosures will be found in our MF SLS Glossary.
All currently available pool information, loan information, collateral information and at issuance documents will still be available to market participants. However, the display of data on the "Pool Information" tab and the "Loan Information" tab of MF SLS for ARM Actual/360 pools will be improved so that all the data can be accessed in a more user-friendly manner.
Investors may contact our Fixed-Income Securities Helpline at 1-800-BEST-MBS (1-800-237-8627) or via email with questions about this announcement to our Multifamily MBS disclosures.
Originally published: 07/08/13