Current News and Announcements
PoolTalk and Disclosure File Updates
August 16, 2019
Overview of Products
Mortgage-Backed Securities (MBS) »
Creating a Single-Family Mortgage-Backed Security (“MBS”) begins with a group of mortgage loans. The loans are underwritten by lenders to borrowers to finance residential properties. Fannie Mae purchases the mortgage loans from lenders and pools them into different securities, each containing loans with similar characteristics. We then issue certificates backing the MBS to investors.
Single-Family MBS: These securities may represent beneficial ownership interests in a pool of mortgage loans secured by single-family (1-4 units) residential properties.
Multifamily MBS: Fannie Mae creates MBS that represent beneficial ownership interests in a pool of mortgage loans secured by multifamily (5 or more units) residential properties.
Fannie Mae Supers™ (Supers) are single-class pass-through, 55-day TBA-eligible securities in which the underlying collateral are groups of existing UMBS and/or Supers. Megas® (Megas) are single-class pass-through, Non-TBA-eligible securities in which the underlying collateral consists of groups of existing Fannie Mae Non-TBA MBS and/or Fannie Mae Megas. A Real Estate Mortgage Investment Conduit (REMIC) is a type of multiclass mortgage-related security in which interest and principal payments from the mortgage-related assets serving as collateral are structured into separately traded securities called classes. Stripped mortgage-backed securities (SMBS) are multiclass, pass-through, grantor trust securities created by "stripping apart" the principal and interest payments from the underlying mortgage-related collateral into two or more classes of securities. In another type of SMBS transaction, excess servicing is stripped from base servicing on loans backing Fannie Mae MBS and issued solely as interest-only (IO) bonds.
Overview of Tools
Fannie Mae provides a wide range of search tools and resources to help users develop a better understanding of the types of mortgage-backed securities that Fannie Mae issues. These tools can be found on the right side of each web page.
ARM MBS Subtypes allows users access to the characteristics of certain key features of adjustable-rate mortgages backing Fannie Mae MBS.
General Word Search allows users to locate REMIC Prospectus Supplements and SMBS Prospectus Supplements/Preliminary Data Statements by keyword.
MBSenger allows user access to MBS articles published by Fannie Mae that discuss Fannie Mae mortgage products and programs.
DUS Disclose® allows users to retrieve security and loan-level information and at-issuance disclosure documents for Multifamily MBS, Megas and REMICs. Users can locate and download information on Multifamily securities, create a portfolio to track specific Multifamily MBS, Megas and REMICs, view reports of loan activity, and choose to receive email updates on changes to pools.
DUS Disclose Glossary allows user access to the definitions of the data elements displayed in the DUS Disclose application.
PoolTalk® is an easy-to-use tool that provides information and data on Fannie Mae Single-Family securities. PoolTalk also provides the ability to download bulk issuance and monthly data files, along with access to Tax Factors for Fannie Mae MBS, REMIC and SMBS securities.
PoolTalk Glossary provides the definitions, calculations and enumerations for the data elements disclosed for Fannie Mae's Single-Family Mortgage-Backed Securities, along with file layouts for the issuance, monthly disclosure and tax factor files. The data attributes are also displayed on the PoolTalk user interface.
Pool Prefix Glossary allows users access to the pool prefixes for each individual issue of Fannie Mae MBS or Fannie Megas® securities.
Some of the disclosure and other documents we provide are available in Portable Document Format . Adobe Reader® software used to view a PDF is available at www.adobe.com.
We have been under conservatorship, with the Federal Housing Finance Agency acting as conservator, since Sept. 6, 2008. We also have entered into a senior preferred stock purchase agreement with the U.S. Department of the Treasury pursuant to which Treasury has committed to provide funding to us under specified circumstances. More information regarding the conservatorship and our agreement with Treasury is provided in our most recent Form 10-K, and may be supplemented by information in any subsequent Form 10-Qs, which are available under "SEC Filings."
Page originally published: 12/21/11
Page last revised: 08/20/19