WASHINGTON – Fannie Mae, the nation’s largest source of financing for home mortgages, today announced that the company has taken additional steps toward enhancing disclosures for its mortgage-backed securities (MBS) and structured transactions.
Beginning in November 2004, the company has added a number of new data elements to Whole Loan REMIC securities reported on PoolTalk®. Investors may now gather additional statistics from PoolTalk on Whole Loan-Backed REMIC Security Collateral Subgroups, including Weighted Average Coupon (WAC) and Weighted Average Maturity (WAM) Quartiles, as well as distributions on Loan Age, Loan Size, WAC, WAM, Geographic Location, Origination Year, Amortization Terms, Amortization Type, Property Type, Occupancy, and Loan Purpose.
“We know how important information is in today’s marketplace and the release of these new data elements provides investors with a greater degree of transparency for our securities,” said Denise Grant, vice president for mortgage-backed securities. “We believe our continuing efforts to enhance disclosures ultimately strengthens our housing finance system and helps the market operate efficiently.”
Last year, Fannie Mae began disclosing six new data elements and detailed descriptions of the information are provided on its corporate Web site for all new and existing MBS issuances. These six elements are loan-to-value ratio, credit score, loan purpose, occupancy type, property type, and servicer. Earlier this year, the company also began providing investors and stakeholders easier access to pool-level data on its MBS through open access to the Pool Data Direct™ section of Fannie Mae’s Web site.
Investors and researchers may access the supplemental file and file layouts through the company’s Web site at http://www.fanniemae.com. For answers to questions on the data contained in the monthly MBS file, investors may contact Fannie Mae’s Fixed-Income Investor Helpline at 1-800-237-8627.
Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation’s largest source of financing for home mortgages. Fannie Mae has pledged through its “American Dream Commitment” to expand access to homeownership for millions of first-time home buyers; help raise the minority homeownership rate to 55 percent; make homeownership and rental housing a success for millions of families at risk of losing their homes; and expand the supply of affordable housing where it is needed most. Since 1968, Fannie Mae has provided $6.3 trillion of mortgage financing for 63 million families. More information about Fannie Mae can be found on the Internet at www.fanniemae.com.
Fannie Mae voluntarily registered its common stock with the Securities and Exchange Commission (SEC) under Section 12(g) of the Securities Exchange Act of 1934, on March 31, 2003. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in the applicable Fannie Mae offering documents, and that no reliance may be placed on the completeness or accuracy of the information contained in this press release. You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in the light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.
