Fannie Mae Announces 2018 Connecticut Avenue Securities Issuance Calendar
WASHINGTON, DC – Fannie Mae (FNMA/OTC) today announced its 2018 Connecticut Avenue Securities™ (CAS) Issuance Calendar as part of an ongoing effort to ensure transparency in the market and help investors with their investment planning for the year. Fannie Mae has the option to issue, or to forego issuance of, one or more CAS deals during each issuance window.
"The publication of our 2018 issuance calendar is consistent with our approach to provide investors with transparency around our benchmark CAS program," said Laurel Davis, Vice President for Credit Risk Transfer, Fannie Mae. "In 2018, we plan to bring six to seven deals to market for a total of approximately $6 to $8 billion in CAS notes over the year, dependent on market conditions."
In just over four years, Fannie Mae has created attractive new markets to transfer mortgage credit risk to private investors, protecting America’s taxpayers. Fannie Mae continues to lead the market in single-family credit risk transfer, transferring a portion of credit risk on approximately $1.2 trillion of single-family mortgages since 2013, through its industry-leading programs, including CAS and Credit Risk Insurance Transfer™ (CIRT™).
About Connecticut Avenue Securities
CAS notes are bonds issued by Fannie Mae. The amount of periodic principal and ultimate principal paid by Fannie Mae is determined by the performance of a large and diverse reference pool. For more information on individual CAS transactions, Fannie Mae’s industry leading approach to credit risk management, and to access its Data Dynamics® analytical tool, visit https://www.fanniemae.com/portal/funding-the-market/credit-risk/index.html.Statements in this release regarding the company's future CAS transactions are forward-looking. Actual results may be materially different as a result of market conditions or other factors listed in "Risk Factors" or "Forward-Looking Statements" in the company's annual report on Form 10-K for the year ended December 31, 2016 and its quarterly report on Form 10-Q for the quarter ended September 30, 2017. This release does not constitute an offer or sale of any security. Before investing in any Fannie Mae issued security, potential investors should review the disclosure for such security and consult their own investment advisors.
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit fanniemae.com and follow us on twitter.com/fanniemae.