Fannie Mae is introducing a new prefix, HO, which will be assigned to adjustable-rate Multifamily MBS pools that are comprised of conventional mortgage loans with short terms. The prefix will be available for adjustable-rate short-term bridge mortgage loans delivered into MBS with issue dates on or after November 1, 2011.
The new prefix is as follows:
HO – Conventional Short-Term, Adjustable-Rate, Actual/360 interest day basis calculation; Multifamily; maturing or due in 3 years or less.
Originally Published: October 04, 2011