When Fannie Mae issues an MBS, that security represents an undivided beneficial interest in a pool of mortgage loans or participation interests in mortgage loans held in trust pursuant to the terms of a governing trust document.

The Master Trust Agreement, or the Trust Indenture, including its exhibits and supplements, generally sets forth the terms relating to an issuance of MBS, the loans or participation interests in the pool, and payment terms on the MBS.

Each document is presented as a Portable Document Format (PDF) file.

Single-Family
Fannie Mae executed a new 2009 Single-Family Master Trust Agreement, effective January 1, 2009, that is used for both fixed-rate and ARM single-family pools with issue dates on and after January 1, 2009.

• 2009 Single-Family Master Trust Agreement (PDF)

Additionally, Fannie Mae released an Amended and Restated 2007 Single-Family Master Trust Agreement, effective January 1, 2009, clarifying the June 1, 2007 Single-Family Master Trust Agreement, that is used for both fixed-rate and ARM single-family pools with issue dates between June 1, 2007 and December 1, 2008.

• Amended and Restated 2007 Single-Family Master Trust Agreement (PDF)

Multifamily
Fannie Mae executed a new 2010 Multifamily Master Trust Agreement, effective October 1, 2010, that is used for fixed-rate, ARM, and DMBS multifamily pools issued on and after October 1, 2010.

• 2010 Multifamily Master Trust Agreement (PDF)

Previous Trust Documents for Single-Family and Multifamily

• The following Fannie Mae Multifamily Master Trust Agreement was in effect for fixed-rate, ARM, and DMBS multifamily pools issued between February 1, 2009 and September 30, 2010.
• 2009 Multifamily Master Trust Agreement (PDF)

• An Amended and Restated 2007 Multifamily Master Trust Agreement, effective February 1, 2009, clarifying the September 1, 2007 Multifamily Master Trust Agreement, is used for fixed-rate, ARM, and DMBS multifamily pools issued between September 1, 2007 and January 31, 2009.
• Amended and Restated 2007 Multifamily Master Trust Agreement (PDF)

• The following Fannie Mae MBS Trust Indentures were in effect for single-family and multifamily pools issued before June 1, 2007.
  
  
• Fixed-Rate Trust Indenture (PDF)
• Adjustable-Rate Trust Indenture (PDF)

• The existing Fannie Mae Trust Indentures were amended, effective June 1, 2007, and used for fixed-rate, ARM, and DMBS multifamily pools issued between June 1, 2007 and August 31, 2007.
  
  
• Fixed-Rate Trust Indenture (as amended June 1, 2007) (PDF)
• Adjustable-Rate Trust Indenture
  (as amended June 1, 2007) (PDF)

• June 1, 2007 Single-Family Master Trust Agreement in effect for single-family pools with issue dates between June 1, 2007 and December 1, 2008, as amended and restated above.
  
  
  • Single-Family Master Trust Agreement (June 1, 2007) (PDF)

• September 1, 2007 Multifamily Master Trust Agreement in effect for multifamily pools issued between September 1, 2007 and January 31, 2009, as amended and restated above.
  
  
• Multifamily Master Trust Agreement (September 1, 2007) (PDF)