Fannie Mae Updates Replacement Index for Some Single-Family COFI-Indexed ARMs

Fannie Mae has updated the replacement index for the population of COFI-indexed Single-Family ARMs transitioning to the Constant Maturity Index (CMT). Rather than transitioning to the one-year CMT Monthly Average index as previously announced, this population of Single-Family ARMs will instead transition to the Cumulative Average for the Previous 12 Month 1-Year Treasury Security (Monthly Average). The updated index description will be reflected in the Subtype Matrix available here on March 21; there will be no changes to the subtypes. The previously published list of active impacted securities has been updated to indicate which Single-Family ARM MBS will transition to the new index.

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