Fannie Megas® (Megas) are pass-through securities in which the underlying collateral are groups of existing Fannie Mae MBS or other Fannie Mae-backed Megas. These Mega pools are similar to Fannie Mae MBS pools, except that the latter pools represent groups of mortgage loans. The cash flows from the underlying Fannie Mae MBS provide the cash flows for the Mega pool. The securities that back a Fannie Mega may be single-family or multifamily Fannie Mae MBS or other Fannie Mega pools. Fannie Megas issued prior to January 1, 2006, also may have been backed by Ginnie Mae securities.

Fannie Megas enable investors to accumulate pieces of similar, existing mortgage-backed securities to form a larger security with its own unique characteristics. Investors can consolidate small or paid-down pools in a Mega, resulting in a potentially greater chance for enhanced geographical diversity.

In this section, users have access to:

Pooling Requirements details requirements for forming Fannie Mae MBS-backed Megas.

The Transaction Fees section provides contact information to access Mega Transaction Fees.

Setting up a Mega & Pool Numbers provides instructions for setting up Mega pools and establishing pool numbers that identify Megas.

The Delivery & Settlement Procedures page provides settlement information for fixed- or adjustable-rate Fannie Mae-backed Megas, including deadlines for delivery.

Sending a File with Pool Information gives directions on how to transmit a Fannie Mae MBS pool file via e-mail.

Finally, in Wiring Instructions & Disclosure Documents provides information on sending collateral for Mega settlements, as well as timeframes for receiving disclosure documents such as the Mega Prospectus, Mega Prospectus Supplement (where relevant), or the Final Data Statement.

Mega Disclosure Documents
Fannie Mae publishes documents related to each Mega. For a particular Mega, the disclosure documents include:

• relevant Mega Prospectus,
• relevant Prospectus Supplement, if the Mega is backed by single-family adjustable-rate pools or prepayment premium mortgage pools, multifamily pools, or Ginnie Mae pools (issued prior to January 1, 2006),
• Final Data Statements,
• the most recent Annual Report on Form 10-K (PDF) filed with the Securities and Exchange Commission (SEC), and
• certain reports filed with the SEC subsequent thereto.

Each Mega Prospectus contains general information about Megas issued during its effective period. The information includes the nature of the guaranty, yield considerations, class definitions, and abbreviations. For example, the March 1, 2002, Mega Prospectus (PDF) will relate to Fannie Mae Mega pools issued on or after March 1, 2002, but before May 1, 2002 (i.e., the date that the next Fannie Mae Mega Prospectus was released).

The Mega Prospectus Supplement contains information about a specific issuance of Mega securities. A prospectus supplement is not issued for all Megas. Only Megas backed by single-family adjustable-rate pools or fixed-rate prepayment premium mortgage pools, multifamily pools, or Ginnie Mae pools have prospectus supplements. The information in a Mega Prospectus Supplement may be different or more complete than the information in the Mega Prospectus because it describes a specific Mega. Mega Prospectus Supplements may be found on Fannie Mae's Prospectus Supplement Retrieval System (eProSupp).

Final Data Statements provides the relevant information for specific collateral that backs a specific Mega.

The Annual Report on Form 10-K (PDF) describes the business and operations of Fannie Mae and our financial condition as of a specified date. It contains audited financial information and is filed with the SEC annually. Fannie Mae also files quarterly and current reports, among other documents, with the SEC.

Other Useful Mega Information
In addition, Fannie Mae provides information related to Megas, including:

PoolTalk®, an online tool, provides information about Fannie Mae MBS, SMBS, Mega, REMIC, and Grantor Trust securities. PoolTalk includes current and historical factors, CUSIP numbers, original issue balances, interest rates, issue and maturity dates, weighted-average coupons, weighted-average maturities, and other data.

New Issues files list pools closed each day on a running 30-day basis and contain preliminary information about those pools. Data in the files includes CUSIP number, pool number, coupon, issue date, maturity date, and the unpaid principal balance on the issue date.

Mega Monthly Collateral Summary files contain preliminary Mega summary information as of the settlement date for most of Fannie Mae's Mega transactions settled in the particular month.

Ginnie Mae-backed Mega Factors files contain monthly payment information for Fannie Mae-issued Megas that are backed by Ginnie Mae securities.

Single-Family Fannie Mae ARM MBS Subtypes files include definitions of the different adjustable-rate mortgage pools. These files summarize key features of the adjustable-rate mortgages (otherwise known as "subtypes," backing Single-Family Fannie Mae MBS).

The Pool Prefix Glossary lists the different prefixes that identify the type of Fannie Mae MBS pool. The prefix identifies the type of loans, the original terms, and other information regarding the pool's characteristics.

For More Information
Call our Fixed-Income Investor Helpline at 1-800-237-8627 for more information or to request other materials on Fannie Mae MBS. The Helpline is staffed from 8:30 a.m. to 5:30 p.m., ET, every business day.