Upcoming Changes to Multifamily Fed Class Codes
Beginning on July 30, 2018, Fannie Mae will issue multifamily fixed- and adjustable-rate securities under new class codes. As a result, today, the Federal Reserve released a clearing memo to update Fedwire Securities Service Participants of these changes.
These new class codes, which are listed below, do not apply to multifamily securities issued prior to July 30, 2018.
|Multifamily Class Codes Prior to July 30, 2018||Multifamily Class Codes On or After July 30, 2018||Securities Description|
|FNMS||MNMS||Fixed-rate multifamily mortgage securities|
|FNAR||MNAR||Adjustable-rate multifamily mortgage securities|
|FNRM||MNRM||Fixed-rate multifamily REMIC securities|
|FNRA||MNRA||Adjustable-rate multifamily REMIC securities|
Please consider any impact the new class codes may have to current systems and business processes. The class code is disclosed in the MBS Stats file published in PoolTalk® as Security Type. The allowable values for Security Type will change to include the new class codes.
For questions, please contact Fannie Mae's Investor Help Line at 1-800-232-6643 or by email.