CAS Resources for European Union Institutional Investors Are Now Available
Fannie Mae's new Resources for EU Investors webpage is specifically dedicated to helping institutional investors located in the European Union ("EU") comply with their due diligence obligations when investing in Fannie Mae's Connecticut Avenue Securities® (CAS) deals.
Regulation (EU) 2017/2402, which took effect on January 1, 2019, imposes certain enhanced due diligence and reporting obligations on EU-based institutional investors. Our new webpage contains information and resources that Fannie Mae already makes publicly available for all investors, but organizes them in an easy-to-navigate format according to the applicable sections of the EU regulation. The webpage also contains a file that will help investors with their reporting obligations by mapping CAS data fields to the European Securities and Markets Authority (ESMA) templates.
Fannie Mae is committed to providing transparency to our investor partners. Coupled with the wealth of loan-level and deal information that we provide to CAS investors and our innovative Data Dynamics® analysis tool, this new webpage designed specifically for our EU-based investors is aimed at continuing to support analysis of our programs.
Fannie Mae's CAS program continues to lead the market in new issuance and is the most actively traded credit risk transfer product in the market. Since 2013, Fannie Mae has brought 33 CAS deals to market, issued $39 billion in notes, and transferred a portion of the credit risk to private investors on more than $1.2 trillion in single-family mortgage loans. In 2018, Fannie Mae introduced the CAS REMIC, which helps to expand the CAS investor base and further enhance the long-term liquidity of the program.
We welcome feedback on our resources. Please reach out to the Fannie Mae Investor Help Line at 1-800-232-6643 or by e-mail with feedback or questions.
EU Institutional Investors should note that Fannie Mae makes no representation and provides no assurance about the suitability or completeness of the published information in relation to any investor due diligence requirements under Article 5 or otherwise. EU Institutional Investors must independently verify and assess the published information with respect to the suitability or completeness required for purposes of such investors’ compliance with any applicable due diligence framework. EU Institutional Investors should consult with their own legal, accounting, and other advisors regarding the sufficiency of this information for their purposes.