Fannie Mae's Final Maturity Amortizing Notes (FMAN) are debt securities with cash flows similar to mortgage securities, but with a final maturity date. FMANs distribute monthly payments of principal and interest. Remittance of principal on recently issued FMANs have been linked to the prepayment behavior of a specific Fannie Mae mortgage-backed security (MBS) pool. However, unlike the underlying referenced MBS pool, these securities are not exposed to the same degree of extension risk since they have a shorter final maturity than a 30-year, fixed-rate MBS.
For a detailed listing of these notes and their current balances, please view the Final Maturity Amortizing Notes Outstanding Report below.
For more information, please see the Pricing Supplements provided below.
Page last revised: 03/05/14