Connecticut Avenue Securities
Connecticut Avenue Securities (CAS) is the benchmark for U.S. mortgage credit.
The Connecticut Avenue Securities® (CAS) program provides an opportunity to invest in a portion of the credit risk that Fannie Mae retains when we guarantee single-family mortgage-backed securities (MBS).
As of Q4 2022, $1.96T of unpaid principal balance of Single-Family mortgage loans is partially covered through CAS transactions, measured at the time of the transactions.
Program Highlights
- Since our first CAS issuance in 2013, Fannie Mae has developed the most liquid market for single-family mortgage credit risk.
- As the largest manager of residential mortgage credit, we set the standard for managing credit risk throughout the life cycle of a mortgage – continuously innovating to reduce default risk and credit losses.
- Underlying reference pools are large and highly diversified, offering broad exposure to the U.S. housing market.
Investor Resources
- Institutional investors can invest side-by-side with Fannie Mae in our geographically diverse credit book of business. Access information on our broad investor base.
- Data Dynamics®, our free analytics platform, allows investors to gain insights into historical loan performance trends, issuance profiles, and monthly performance.
Stay Connected
- Access the latest Capital Markets news and information, including commentaries, policy announcements, and more.
- Sign up to receive the latest information about your areas of interest including CRT, MBS and ESG.
- Contact us if you have questions or would like to learn more about the CAS program