Fannie Mae Responds to Market Needs by Offering Additional Flexibility for Fannie Megas®
Fannie Mae is updating the Single-Family Mega pooling requirements to allow for REMIC-backed Megas1 to be eligible collateral for MBS-backed Megas. For example, this change allows for ZL and ZI Megas to be collateral for CL and CI Megas, respectively. With this enhancement we provide increased flexibility for creating Megas and anticipate improved liquidity for REMIC-Backed Megas. The updated pooling requirements will be effective for Megas issued on or after November 1, 2016.
In support of this update and to reflect additional enhancements made in the Mega program, Fannie Mae released a 2016 Megas Prospectus, effective for fixed-rate and adjustable-rate Megas with issue dates on or after November 1, 2016.
For any questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 2 or by e-mail.
1 REMIC-Backed Mega are Mega securities collateralized by REMIC certificates, which when recombined represent the original MBS cashflow. Prefixes include ZL, ZI, ZT, ZZ, ZP, ZK, ZC, and ZB. Please review the Pool Prefix Glossary for more details on these prefixes.
Originally published: 11/1/16