Update: Prepayment Speeds Affecting Certain "Pooled-from-Portfolio" Single-Family MBS Pools

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Update: Prepayment Speeds Affecting Certain "Pooled-from-Portfolio" Single-Family MBS Pools

On July 14, 2009, we announced that we had identified an issue affecting calculated prepayment speeds for certain “pooled-from-portfolio” single-family MBS pools due to our inadvertent inclusion of loans with liquidated loan balances and prior curtailment amounts received during the month prior to the month of pool issuance. On July 17, 2009, we updated the attachment regarding affected pools and announced that we would continue to review additional “pooled-from-portfolio” single-family MBS pools.

We have reviewed all “pooled-from-portfolio” single-family MBS pools with an issue date of February 1, 2009 or later. Attached is an updated list of pools through an issue date of June 1 in which we inadvertently included loans with liquidated loan balances and prior curtailment amounts received during the month prior to the month in which the pool was issued constituting more than one percent of the original principal balance for the pool.

The pooling procedures at issue historically may have been used in the creation of all "pooled-from-portfolio" single-family MBS pools.  In an effort to provide information that may be helpful to the marketplace, we are providing a comprehensive list of all single-family MBS "pooled-from-portfolio" pools.

We continue to modify our pooling procedures with the goal of preventing this occurrence in the future.

Investors in any of the affected MBS pools may contact Fannie Mae's Fixed-Income Securities Marketing Help Line at 1-800-237-8627.

Originally published: 07/28/09