Credit Risk Transfer - News

Fannie Mae to Enhance its Single-Family Credit Risk Transfer Disclosures

Fannie Mae continues to build its Connecticut Avenue Securities® (CAS) and Credit Insurance Risk Transfer (CIRT) monthly disclosure dataset based on investor feedback and to provide greater transparency to the market. Beginning with the September 2020 remittance report (July 2020 activity), Fannie Mae will introduce four new fields for all outstanding CAS and CIRT transactions:

  • Repurchase Make Whole Proceeds Flag – Indicates if Fannie Mae received proceeds under the terms of its representation and warranty arrangements for the repurchase of the mortgage loan.
  • Alternative Delinquency Resolution – An indicator that denotes that the borrower has been granted a specified plan that provides for an alternative form of mortgage payment relief which allows the borrower to cure a mortgage delinquency by deferring all or a certain portion of past due amounts on the mortgage loan until the maturity date of the loan (e.g., payment deferral).
  • Alternative Delinquency Resolution Count – The total number of Alternative Delinquency Resolutions as reported by the servicer for a specific loan.
  • Total Deferral Amount – The total amount related to one or more Alternative Delinquency Resolutions which will not accrue interest.

In addition, we are updating two existing fields:

  • Borrower Assistance Plan (formerly Forbearance Indicator) – The type of assistance plan that the borrower is enrolled in that provides temporary mortgage payment relief or an opportunity to cure a mortgage delinquency over a defined period.
  • Property Valuation Method (formerly Property Inspection Waiver) – The method by which the value of the subject property was obtained.

The new file layout with 108 fields will have updated formats for certain fields. The preliminary File Layout and Glossary, effective for the September 2020 remittance report, reflects the upcoming new data attributes and definitions.

We will also enhance our Single-Family Historical Loan Performance Dataset in October 2020 to a single file format with the same 108 fields. More details to follow.

For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.