CAS Pricing
The 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). Below is detailed pricing information for all transactions since the inception of the program in 2013.
Under the CAS program, Fannie Mae has issued approximatively $2.2 billion in notes year to date and a total of $66.7 billion since program inception, as of April 11, 2024.
| Transaction | 2024-R03 | 2024-R02 | 2024-R01 | 2023-R08 | 2023-R07 | 2023-R06 | 2023-R05 | 2023-R04 | 2023-R03 | 2023-R02 | 2023-R01 | 2022-R09 | 2022-R08 | 2022-R07 | 2022-R06 | 2022-R05 | 2022-R04 | 2022-R03 | 2022-R02 | 2022-R01 | 2021-R03 | 2021-R02 | 2021-R01 | 2020-SBT1 | 2020-SBT1 | 2020-R02 | 2020-R01 | 2019-HRP1 | 2019-R07 | 2019-R06 | 2019-R05 | 2019-R04 | 2019-R03 | 2019-R02 | 2019-R01 | 2018-R07 | 2018-C06 | 2018-C06 | 2018-C05 | 2018-C04 | 2018-C03 | 2018-C02 | 2018-C01 | 2017-C07 | 2017-C07 | 2017-C06 | 2017-C06 | 2017-C05 | 2017-C04 | 2017-C03 | 2017-C02 | 2017-C01 | 2016-C07 | 2016-C06 | 2016-C05 | 2016-C04 | 2016-C03 | 2016-C03 | 2016-C02 | 2016-C01 | 2016-C01 | 2015-C04 | 2015-C04 | 2015-C03 | 2015-C03 | 2015-C02 | 2015-C02 | 2015-C01 | 2015-C01 | 2014-C04 | 2014-C04 | 2014-C03 | 2014-C03 | 2014-C02 | 2014-C02 | 2014-C01 | 2013-C01 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group Deal | Group 2 | Group 1 | Group 1 | Group 1 | Group 2 | Group 1 | Group 1 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 1 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 2 | Group 1 | NA | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 1 |
| Pricing Date | 4/10/2024 | 3/6/2024 | 1/24/2024 | 11/16/2023 | 10/5/2023 | 7/19/2023 | 6/28/2023 | 5/24/2023 | 4/26/2023 | 2/6/2023 | 1/11/2023 | 9/20/2022 | 8/1/2022 | 6/27/2022 | 6/6/2022 | 5/3/2022 | 4/4/2022 | 3/21/2022 | 2/1/2022 | 1/11/2022 | 12/14/2021 | 11/16/2021 | 10/19/2021 | 3/3/2020 | 3/3/2020 | 2/3/2020 | 1/14/2020 | 11/26/2019 | 10/29/2019 | 10/2/2019 | 7/30/2019 | 6/25/2019 | 4/9/2019 | 3/5/2019 | 2/5/2019 | 10/31/2018 | 10/2/2018 | 10/2/2018 | 7/26/2018 | 6/26/2018 | 5/1/2018 | 3/6/2018 | 2/6/2018 | 11/14/2017 | 11/14/2017 | 8/15/2017 | 8/15/2017 | 7/18/2017 | 5/23/2017 | 5/2/2017 | 3/15/2017 | 1/18/2017 | 12/1/2016 | 11/1/2016 | 8/2/2016 | 7/19/2016 | 2/12/2016 | 4/12/2016 | 3/22/2016 | 2/9/2016 | 2/9/2016 | 10/21/2015 | 10/21/2015 | 7/16/2015 | 7/16/2015 | 5/19/2015 | 5/19/2015 | 2/19/2015 | 2/19/2015 | 11/19/2014 | 11/19/2014 | 7/17/2014 | 7/17/2014 | 5/21/2014 | 5/21/2014 | 1/14/2014 | 10/15/2013 |
| Acquisition Period | Jan 2023/June 2023 | Apr 2023/July 2023 | Jan 2023/Apr 2023 | Oct 2022/Dec 2022 | June 2022/Dec 2022 | July 2022/Oct 2022 | May 2022/June 2022 | Mar 2022/Apr 2022 | Jan 2022/May 2022 | Feb 2022/Mar 2022 | Jan 2022/Feb 2022 | Sep 2021/Dec 2021 | Sep 2021/Nov 2021 | July 2021/August 2021 | June 2021/July 2021 | May 2021/July 2021 | Apr 2021/May 2021 | Mar 2021/Apr 2021 | Jan 2021/Apr 2021 | Jan 2021/Mar 2021 | 21-Jan | Oct 2020/Dec 2020 | Oct 2020/Dec 2020 | Sep 2014/Feb 2016 | Sep 2014/Apr 2016 | Nov 2018/Sep 2019 | Oct 2018/Aug 2019 | Apr 2009/Oct 2012 | May 2018/June 2019 | Jan 2019/June 2019 | May 2018/Mar 2019 | Aug 2018/Dec 2018 | May 2018/Nov 2018 | May 2018/Sep 2018 | May 2018/Aug 2018 | Apr 2018/June 2018 | Feb 2018/Mar 2018 | Mar 2018/Apr 2018 | Dec 2017/Mar 2018 | Oct 2017/Jan 2018 | Sep 2017/Nov 2017 | June 2017/Sep 2017 | May 2017/Aug 2017 | Apr 2017/June 2017 | Feb 2017/Apr 2017 | Jan 2017/Mar 2017 | Jan 2017/Feb 2017 | Oct 2016/Dec 2016 | Oct 2016/Dec 2016 | July 2016/Oct 2016 | May 2016/Sep 2016 | Mar 2016/June 2016 | Jan 2016/Apr 2016 | Nov 2015/Feb 2016 | July 2015/Dec 2015 | Jul 2015/Oct 2015 | Mar 2015/June 2015 | 15-Jun | Mar 2015/May 2015 | Jan 2015/Feb 2015 | Jan 2015/Feb 2015 | Sep 2014/Nov 2014 | Sep 2014/Nov 2014 | May 2014/Aug 2014 | May 2014/Aug 2014 | Dec 2013/Apr 2014 | Dec 2013/Apr 2014 | Sep 2013/Nov 2013 | Sep 2013/Nov 2013 | July 2013/Aug 2013 | July 2013/Aug 2013 | Apr 2013/June 2013 | Apr 2013/June 2013 | Jan 2013/Mar 2013 | Jan 2013/Mar 2013 | Oct 2012/Dec 2012 | July 2012/Sep 2012 |
| Aggregate Cut-off Date Principal Balance | 26,210,585,143 | 18,608,126,176 | 19,190,104,285 | 18,880,190,518 | 25,890,240,720 | 20,293,205,297 | 20,224,715,377 | $20,891,990,069 | $37,970,918,330 | $20,261,126,893 | $22,623,966,717 | $29,331,889,055 | $20,400,964,519 | $30,550,794,921 | $25,000,049,934 | $38,544,068,478 | $36,439,736,485 | $44,382,875,605 | $44,278,190,577 | $53,747,180,118 | $34,782,754,346 | $35,116,660,563 | $72,301,601,639 | $90,874,127,793 | $61,501,846,746 | $29,121,892,280 | $29,003,350,855 | $106,754,721,932 | $26,271,425,532 | $32,818,049,500 | $23,759,765,958 | $24,660,757,825 | $21,487,042,359 | $26,379,861,345 | $28,078,924,863 | $24,260,267,811 | $10,527,759,933 | $15,183,988,746 | $28,733,348,264 | $24,722,803,522 | $31,135,085,611 | $26,500,683,893 | $44,934,126,832 | $13,333,287,312 | $20,628,318,834 | $15,509,153,036 | $16,488,934,405 | $43,751,258,359 | $30,153,732,577 | $41,246,031,432 | $39,988,464,990 | $43,757,996,033 | $22,515,197,663 | $33,123,656,881 | $38,667,647,749 | $42,178,644,351 | $25,391,426,816 | $11,861,533,020 | $36,035,263,116 | $10,827,710,232 | $18,999,684,441 | $18,168,809,901 | $26,875,730,155 | $28,252,151,838 | $20,074,163,385 | $17,007,346,083 | $28,001,766,568 | $18,804,002,104 | $31,388,674,809 | $18,027,465,107 | $35,846,228,924 | $59,214,211,517 | $19,009,515,994 | $46,843,320,654 | $13,975,158,091 | $29,308,718,890 | $26,756,375,870 |
| Total Bond Issuance | 628,396,000 | 751,299,000 | 819,413,000 | 609,275,000 | 535,674,000 | 765,558,000 | 738,197,000 | $765,166,000 | $621,771,000 | $709,137,000 | $730,749,000 | $591,034,000 | $626,304,000 | $866,110,000 | $754,375,000 | $952,033,000 | $1,142,381,000 | $1,241,608,000 | $1,240,891,000 | $1,506,261,000 | $908,697,000 | $984,141,000 | $1,202,011,000 | $440,082,000 | $526,321,000 | $1,134,294,000 | $1,033,242,000 | $963,459,000 | $998,310,000 | $1,293,848,000 | $993,156,000 | $1,030,817,000 | $857,330,000 | $1,002,431,000 | $960,296,000 | $921,887,000 | $370,049,000 | $548,139,000 | $982,678,000 | $939,464,000 | $1,050,028,000 | $1,007,022,000 | $1,494,056,000 | $474,995,000 | $685,888,000 | $552,511,000 | $516,924,000 | $1,350,818,000 | $1,002,610,000 | $1,371,429,000 | $1,329,614,000 | $1,351,026,000 | $701,681,000 | $1,024,022,000 | $1,202,026,000 | $1,322,090,000 | $768,655,000 | $397,053,000 | $1,031,507,000 | $308,589,000 | $636,487,000 | $552,331,000 | $893,617,000 | $899,124,000 | $657,948,000 | $557,400,000 | $891,100,000 | $544,500,000 | $924,000,000 | $530,000,000 | $919,000,000 | $1,500,000,000 | $550,000,000 | $1,200,042,000 | $400,024,000 | $750,000,000 | $675,000,000 |
| Bond Issuance (M) | 2M1: $273.9 2M2: $236.6 2B1: $117.9 |
1M1: $256.3 1M2: $229.8 1B1: $176.8 1B2: $88.4 |
1M1: $328.2 1M2: $237.0 1B1: $182.3 1B2: $72.0 |
1M1: $278.0 1M2: $206.3 1B1: $125.0 |
2M1: $246.0 2M2: $184.5 2B1: $105.3 |
1M1: $279.5 1M2: $231.3 1B1: $149.2 1B2: $105.5 |
1M1: $288.2 1M2: $230.6 1B1: $127.4 1B2: $92.0 |
1M1: $377.1 1M2: $188.6 1B1: $131.6 1B2: $67.9 |
2M1: $342.7 2M2: $216.4 2B1: $62.7 |
1M1: $375.3 1M2: $154.0 1B1: $114.0 1B2: $65.8 |
1M1: $429.9 1M2: $247.2 1B1: $53.7 |
2M1: $292.6 2M2: $250.8 2B1: $47.7 |
1M1: $377.9 1M2: $126.0 1B1: $122.4 |
1M1: $391.8 1M2: $275.7 1B1: $91.7 1B2: $106.9 |
1M1: $332.5 1M2: $249.4 1B1: $90.0 1B2: $82.5 |
2M1: $292.9 2M2: $219.7 2B1: $146.5 2B2: $292.9 |
1M1: $415.4 1M2: $346.2 1B1: $190.4 1B2: $190.4 |
1M1: $484.9 1M2: $379.5 1B1: $210.8 1B2: $166.4 |
2M1: $357.5 2M2: $378.6 2B1: $273.4 2B2: $231.4 |
1M1: $459.5 1M2: $434.0 1B1: $306.4 1B2: $306.4 |
1M1: $264.4 1M2: $313.9 1B1: $148.7 1B2: $181.7 |
2M1: $283.6 2M2: $283.6 2B1: $233.5 2B2: $183.5 |
1M1: $274.7 1M2: $240.4 1B1: $377.8 1B2: $309.1 |
1M2: $252.3 1B1: $187.8 |
2M2: $316.4 2B1: $209.9 |
2M1: $276.7 2M2: $567.1 2B1: $290.5 |
1M1: $303.1 1M2: $523.5 1B1: $206.7 |
M2: $557.8 B1: $405.7 |
1M1: $249.6 1M2: $524.1 1B1: $224.6 |
2M1: $233.8 2M2: $732.7 2B1: $327.4 |
1M1: $225.7 1M2: $542.7 1B1: $225.7 |
2M1: $234.3 2M2: $538.8 2B1: $257.7 |
1M1: $204.1 1M2: $500.1 1B1: $153.1 |
1M1: $200.5 1M2: $614 1B1: $188 |
2M1: $186.7 2M2: $586.8 2B1: $186.7 |
1M1: $149.8 1M2: $599.2 1B1: $172.9 |
2M1: $70.0 2M2: $230.0 2B1:$ 70.0 |
1M1: $86.6 1M2: $353.4 1B1: $108.2 |
1M1: $204.7 1M2: $600.5 1B1: $177.4 |
2M1: $187.9 2M2: $598.9 2B1: $152.6 |
1M1: $251.4 1M2: $606.4 1B1: $192.3 |
2M1: $188.8 2M2: $667.2 2B1: $151.1 |
1M1: $384.2 1M2: $853.7 1B1: $256.1 |
2M1: $107.7 2M2: $303.9 2B1: $63.3 |
1M1: $186.2 1M2: $401.7 1B1: $97.9 |
2M1: $117.9 2M2: $360.9 2B1: $73.6 |
1M1: $156.6 1M2: $281.9 1B1: $78.3 |
1M1: $353.3 1M2: $789.7 1B1: $207.8 |
2M1: $257.8 2M2: $601.5 2B1: $143.2 |
1M1: $568.2 1M2: $607.4 1B1: $195.9 |
2M1: $379.9 2M2: $759.8 2B1: $189.9 |
1M1: $457.3 1M2: $685.9 1B1: $207.8 |
2M1: $192.5 2M2: $449.2 2B: $60.0 |
1M1: $393.3 1M2: $550.6 1B: $80.0 |
2M1: $385.7 2M2: $716.3 2B: $100.0 |
1M1: $500.9 1M2: $701.2 1B: $120.0 |
2M1: $241.2 2M2: $482.4 2B: $45.0 |
1M1: $157.8 1M2: $180.3 1B: $59.0 |
1M1: $342.3 1M2: $599.1 1B: $90.1 |
2M1: $113.2 2M2: $195.4 |
1M1: $207.6 1M2: $333.9 1B: $94.9 |
2M1: $155.3 2M2: $396.9 |
1M1: $242.6 1M2: $651.1 |
1M1: $255 1M2: $644.1 |
2M1: $257.5 2M2: $400.5 |
2M1: $226.2 2M2: $331.2 |
1M1: $266 1M2: $625.1 |
2M1: $169.5 2M2: $375.0 |
1M1: $402.5 1M2: $521.5 |
2M1: $205 2M2: $325 |
1M1: $340.5 1M2: $578.5 |
1M1: $555.0 1M2: $945 .0 |
2M1: $239.5 2M2: $310.5 |
1M1: $556.0 1M2: $644.0 |
2M1: $174.0 2M2: $226.0 |
M1: $375.0 M2: $375.0 |
M1: $337.5 M2: $337.5 |
| Benchmark | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | SOFR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR | LIBOR |
| Spread | 2M1: 115 bps 2M2: 195 bps 2B1: 280 bps |
1M1: 110 bps 1M2: 180 bps 1B1: 250 bps 1B2: 370 bps |
1M1: 105 bps 1M2: 180 bps 1B1: 270 bps 1B2: 400 bps |
1M1: 150 bps 1M2: 250 bps 1B1: 355 bps |
2M1: 195 bps 2M2: 325 bps 2B1: 450 bps |
1M1: 170 bps 1M2: 270 bps 1B1: 390 bps 1B2: 590 bps |
1M1: 190 bps 1M2: 310 bps 1B1: 475 bps 1B2: 685 bps |
1M1: 230 bps 1M2: 355 bps 1B1: 535 bps 1B2: 825 bps |
2M1: 250 bps 2M2: 390 bps 2B1: 635 bps |
1M1: 230 bps 1M2: 335 bps 1B1: 555 bps 1B2: 790 bps |
1M1: 240 bps 1M2: 375 bps 1B1: 510 bps |
2M1: 250 bps 2M2: 475 bps 2B1: 675 bps |
1M1: 255 bps 1M2: 360 bps 1B1: 560 bps |
1M1: 295 bps 1M2: 465 bps 1B1: 680 bps 1B2: 1200 bps |
1M1: 275 bps 1M2: 385 bps 1B1: 635 bps 1B2: 1060 bps |
2M1: 190 bps 2M2: 300 bps 2B1: 450 bps 2B2: 700 bps |
1M1: 200 bps 1M2: 310 bps 1B1: 525 bps 1B2: 950 bps |
1M1: 210 bps 1M2: 350 bps 1B1: 625 bps 1B2: 985 bps |
2M1: 120 bps 2M2: 300 bps 2B1: 450 bps 2B2: 765 bps |
1M1: 100 bps 1M2: 190 bps 1B1: 315 bps 1B2: 600 bps |
1M1: 85 bps 1M2: 165 bps 1B1: 275 bps 1B2: 550 bps |
2M1: 90 bps 2M2: 200 bps 2B1: 330 bps 2B2: 620 bps |
1M1: 75 bps 1M2: 155 bps 1B1: 310 bps 1B2: 600 bps |
1M2: 365 bps 1B1: 675 bps |
2M2: 365 bps 2B1: 660 bps |
2M1: 75 bps 2M2: 200 bps 2B1: 300 bps |
1M1: 80 bps 1M2: 205 bps 1B1: 325 bps |
M2: 215 bps B1: 925 bps |
1M1: 77 bps 1M2: 210 bps 1B1: 340 bps |
2M1: 75 bps 2M2: 210 bps 2B1: 375 bps |
1M1: 75 bps 1M2: 200 bps 1B1: 410 bps |
2M1: 75 bps 2M2: 210 bps 2B1: 525 bps |
1M1: 75 bps 1M2: 215 bps 1B1: 410 bps |
1M1: 85 bps 1M2: 230 bps 1B1: 415 bps |
2M1: 85 bps 2M2: 245 bps 2B1: 435 bps |
1M1: 75 bps 1M2: 240 bps 1B1: 435 bps |
2M1: 55 bps 2M2: 210 bps 2B1: 410 bps |
1M1: 55 bps 1M2: 200 bps 1B1: 375 bps |
1M1: 72 bps 1M2: 235 bps 1B1: 425 bps |
2M1: 75 bps 2M2: 255 bps 2B1: 450 bps |
1M1: 68 bps 1M2: 215 bps 1B1: 375 bps |
2M1: 65 bps 2M2: 220 bps 2B1: 400 bps |
1M1: 60 bps 1M2: 225 bps 1B1: 355 bps |
2M1: 65 bps 2M2: 250 bps 2B1: 445 bps |
1M1: 65 bps 1M2: 240 bps 1B1: 400 bps |
2M1: 75 bps 2M2: 280 bps 2B1: 445 bps |
1M1: 75 bps 1M2: 265 bps 1B1: 415 bps |
1M1: 55 bps 1M2: 220 bps 1B1: 360 bps |
2M1: 85 bps 2M2: 285 bps 2B1: 505 bps |
1M1: 95 bps 1M2: 300 bps 1B1: 485 bps |
2M1: 115 bps 2M2: 365 bps 2B1: 550 bps |
1M1: 130 bps 1M2: 355 bps 1B1: 575 bps |
2M1: 130 bps 2M2: 435 bps 2B: 950 bps |
1M1: 130 bps 1M2: 425 bps 1B: 925 bps |
2M1: 135 bps 2M2: 445 bps 2B: 1075 bps |
1M1: 145 bps 1M2: 425 bps 1B: 1025 bps |
2M1: 220 bps 2M2: 590 bps 2B: 1275 bps |
1M1: 200 bps 1M2: 530 bps 1B: 1175 bps |
1M1: 215 bps 1M2: 600 bps 1B: 1225 bps |
2M1: 210 bps 2M2: 695 bps |
1M1: 195 bps 1M2: 675 bps 1B: 1175 bps |
2M1: 170 bps 2M2: 555 bps |
1M1: 160 bps 1M2: 570 bps |
1M1: 150 bps 1M2: 500 bps |
2M1: 150 bps 2M2: 500 bps |
2M1: 120 bps 2M2: 400 bps |
1M1: 115 bps 1M2: 400 bps |
2M1: 150 bps 2M2: 455 bps |
1M1: 150 bps 1M2: 430 bps |
2M1: 210 bps 2M2: 500 bps |
1M1: 195 bps 1M2: 490 bps |
1M1: 120 bps 1M2: 300 bps |
2M1: 120 bps 2M2: 290 bps |
1M1: 95 bps 1M2: 260 bps |
2M1: 95 bps 2M2: 260 bps |
M1: 160 bps M2: 440 bps |
M1: 200 bps M2: 525 bps |
| Minimum Credit Enhancement | 4.50% | 5.25% | 5.60% | 5.30% | 4.50% | 5.25% | 5.15% | 5.15% | 4.15% | 4.75% | 4.90% | 3.85% | 4.50% | 3.90% | 3.90% | 3.25% | 3.55% | 3.30% | 3.30% | 3.20% | 3.00% | 3.30% | 2.00% | 4.25% | 4.25% | 4.95% | 4.65% | 1.00% | 4.25% | 4.85% | 4.65% | 5.00% | 4.70% | 4.50% | 4.10% | 4.75% | 4.20% | 4.50% | 4.40% | 4.50% | 4.40% | 4.50% | 4.50% | 4.50% | 4.50% | 4.50% | 3.80% | 3.75% | 4.25% | 4.00% | 4.25% | 4.00% | 4.25% | 4.75% | 4.50% | 4.75% | 4.50% | 4.50% | 4.75% | 4.75% | 4.75% | 4.75% | 4.75% | 4.25% | 4.75% | 4.75% | 4.25% | 3.75% | 3.50% | 3.75% | 3.00% | 3.00% | 3.75% | 3.00% | 3.75% | 3.00% | 3.00% |
| Credit Enhancement | 2M1: 3.40% 2M2: 2.45% 2B1: 1.55% |
1M1: 3.80% 1M2: 2.50% 1B1: 1.50% 1B2: 1.00% |
1M1: 3.80% 1M2: 2.50% 1B1: 1.50% 1B2: 1.00% |
1M1: 3.75% 1M2: 2.60% 1B1: 1.55% |
2M1: 3.50% 2M2: 2.75% 2B1: 1.50% |
1M1: 3.80% 1M2: 2.60% 1B1: 1.55% 1B2: 0.75% |
1M1: 3.65% 1M2: 2.45% 1B1: 1.40% 1B2: 0.75% |
1M1: 3.25% 1M2: 2.30% 1B1: 1.25% 1B2: 0.60% |
2M1: 3.20% 2M2: 2.60% 2B1: 1.50% |
1M1: 2.80% 1M2: 2.00% 1B1: 1.25% 1B2: 0.60% |
1M1: 2.90% 1M2: 1.75% 1B1: 1.50% |
2M1: 2.80% 2M2: 1.90% 2B1: 1.25% |
1M1: 2.55% 1M2: 1.90% 1B1: 1.10% |
1M1: 2.55% 1M2: 1.60% 1B1: 1.00% 1B2: 0.30% |
1M1: 2.50% 1M2: 1.45% 1B1: 0.85% 1B2: 0.30% |
2M1: 2.45% 2M2: 1.85% 2B1: 1.45% 2B2: 0.65% |
1M1: 2.35% 1M2: 1.35% 1B1: 0.80% 1B2: 0.25% |
1M1: 2.15% 1M2: 1.25% 1B1: 0.75% 1B2: 0.25% |
2M1: 2.45% 2M2: 1.55% 2B1: 0.90% 2B2: 0.35% |
1M1: 2.30% 1M2: 1.45% 1B1: 0.85% 1B2: 0.25% |
1M1: 2.20% 1M2: 1.25% 1B1: 0.80% 1B2: 0.25% |
2M1: 2.45% 2M2: 1.60% 2B1: 0.90% 2B2: 0.35% |
1M1: 1.60% 1M2: 1.25% 1B1: 0.70% 1B2: 0.25% |
1M2: 0.37% 1B1: 0.07% |
2M2: 0.55% 2B1: 0.10% |
2M1: 3.35% 2M2: 1.30% 2B1: 0.25% |
1M1: 2.85% 1M2: 0.95% 1B1: 0.20% |
M2: 0.45% B1: 0.05% |
1M1: 3.25% 1M2: 1.15% 1B1: 0.25% |
2M1: 3.65% 2M2: 1.30% 2B1: 0.25% |
1M1: 3.65% 1M2: 1.25% 1B1: 0.25% |
2M1: 3.65% 2M2: 1.35% 2B1: 0.25% |
1M1: 3.70% 1M2: 1.25% 1B1: 0.50% |
1M1: 3.70% 1M2: 1.25% 1B1: 0.50% |
2M1: 3.40% 2M2: 1.20% 2B1: 0.50% |
1M1: 3.85% 1M2: 1.25 % 1B1: 0.50% |
2M1: 3.50% 2M2: 1.20% 2B1: 0.50% |
1M1: 3.70% 1M2: 1.25% 1B1: 0.50% |
1M1: 3.35% 1M2: 1.15% 1B1: 0.50% |
2M1: 3.70% 2M2: 1.15% 2B1: 0.50% |
1M1: 3.20% 1M2: 1.15% 1B1: 0.50% |
2M1: 3.75% 2M2: 1.10% 2B1: 0.50% |
1M1: 3.10% 1M2: 1.10% 1B1: 0.50% |
2M1: 3.40% 2M2: 1.00% 2B1: 0.50% |
1M1: 3.05% 1M2: 1.00% 1B1: 0.50% |
2M1: 3.45% 2M2: 1.00% 2B1: 0.50% |
1M1 2.80% 1M2: 1.00% 1B1: 0.50% |
1M1: 2.90% 1M2: 1.00% 1B1: 0.50% |
2M1: 3.10% 2M2: 1.00% 2B1: 0.50% |
1M1: 2.55% 1M2: 1.00% 1B1: 0.50% |
2M1: 3.00% 2M2: 1.00% 2B1: 0.50% |
1M1: 2.65% 1M2: 1.00% 1B1: 0.50% |
2M1: 3.10% 2M2: 1.00% 2B: 0% |
1M1: 2.75% 1M2: 1.00% 1B: 0% |
2M1: 3.00% 2M2: 1.00% 2B: 0% |
1M1: 2.75% 1M2: 1.00% 1B: 0% |
2M1: 3.00% 2M2: 1.00% 2B: 0% |
1M1: 2.60% 1M2: 1.00% 1B: 0% |
1M1: 2.75% 1M2: 1.00% 1B: 0% |
2M1: 2.90% 2M2: 1.00% |
1M1: 2.85% 1M2: 1.00% 1B: 0% |
2M1: 3.10% 2M2: 0.80% |
1M1: 3.05% 1M2: 0.50% |
1M1: 2.80% 1M2: 0.40% |
2M1: 2.90% 2M2: 0.80% |
2M1: 2.85% 2M2: 0.80% |
1M1: 2.75% 1M2: 0.40% |
2M1: 2.80% 2M2: 0.70% |
1M1: 2.15% 1M2: 0.40% |
2M1: 2.55% 2M2: 0.65% |
1M1: 2.00% 1M2: 0.30% |
1M1: 2.00% 1M2: 0.30% |
2M1: 2.40% 2M2: 0.65% |
1M1: 1.75% 1M2: 0.30% |
2M1: 2.40% 2M2: 0.65% |
M1: 1.65% M2: 0.30% |
M1: 1.65% M2: 0.30% |
| Initial Approximate Vertical Slice Retained | 2M1: 5% 2M2: 5% 2B1: 50% 2B2: 100% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 5% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 25% |
1M1: 5% 1M2: 5% 1B1: 37% 1B2: 100% |
2M1: 5% 2M2: 5% 2B1: 67% 2B2: 100% |
1M1: 5% 1M2: 5% 1B1: 30% 1B2: 35% |
1M1: 5% 1M2: 5% 1B1: 40% 1B2: 30% |
1M1: 5% 1M2: 5% 1B1: 40% 1B2: 50% |
2M1: 5% 2M2: 5% 2B1: 85% 2B2: 100% |
1M1: 5% 1M2: 5% 1B1: 25% 1B2: 50% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 100% |
2M1: 5% 2M2: 5% 2B1: 75% 2B2: 100% |
1M1: 5% 1M2: 5% 1B1: 25% 1B2: 100% |
1M1: 5% 1M2: 5% 1B1: 50% 1B2: 50% |
1M1: 5% 1M2: 5% 1B1: 40% 1B2: 40% |
2M1: 5% 2M2: 5% 2B1: 5% 2B2: 5% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 5% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 25% |
2M1: 5% 2M2: 5% 2B1: 5% 2B2: 5% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 5% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 5% |
2M1: 5% 2M2: 5% 2B1: 5% 2B2: 5% |
1M1: 5% 1M2: 5% 1B1: 5% 1B2: 5% |
1M2: 5% 1B1: 5% |
2M2: 5% 2B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
M2: 5% B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B1: 5% |
1M1: 5% 1M2: 5% 1B1: 5% |
2M1: 5% 2M2: 5% 2B: 75% |
1M1: 5% 1M2: 5% 1B: 76% |
2M1: 5% 2M2: 5% 2B: 82% |
1M1: 5% 1M2: 5% 1B: 72% |
2M1: 5% 2M2: 5% 2B: 82% |
1M1: 5% 1M2: 5% 1B: 50% |
1M1: 5% 1M2: 5% 1B: 75% |
2M1: 5% 2M2: 5% |
1M1: 5% 1M2: 5% 1B: 50% |
2M1: 5% 2M2: 5% |
1M1: 5% 1M2: 5% |
1M1: 5% 1M2: 5% |
2M1: 5% 2M2: 5% |
2M1: 5.00% 2M2: 5.01% |
1M1: 5.01% 1M2: 5.01% |
2M1: 5.1% 2M2: 5.0% |
1M1: 5.0% 1M2: 5.1% |
2M1: 5.2% 2M2: 5.1% |
1M1: 5.0% 1M2: 5.1% |
1M1: 6.3% 1M2: 6.1% |
2M1: 6.7% 2M2: 6.7% |
1M1: 5.1% 1M2: 5.1% |
2M1: 7.7% 2M2: 7.7% |
M1: 5.2% M2: 5.2% |
M1: 6.6% M2: 6.6% |
| Rating | Moody’s/DBRS 2M1: A2 (sf)/A (low) 2M2: Baa2 (sf)/BBB (high) 2B1: Ba1 (sf)/BB (high) |
S&P/DBRS 1M1: A (sf)/A (high) (sf) 1M2: BBB+ (sf)/BBB (high) (sf) 1B1: BB+ (sf)/BBB (low) (sf) 1B2: B+ (sf)/BB (sf) |
S&P/KBRA 1M1: A- (sf)/A (sf) 1M2: BBB (sf)/BBB+ (sf) 1B1: BB (sf)/BBB- (sf) 1B2: B+ (sf)/BB (sf) |
S&P/KBRA 1M1: A- (sf)/A- (sf) 1M2: BBB (sf)/BBB+ (sf) 1B1: BB (sf)/BBB- (sf) |
Moody’s/DBRS 2M1: A3 (sf)/A (low) (sf) 2M2: Baa2 (sf)/ BBB (sf) 2B1: Ba2 (sf)/BB (sf) |
S&P/KBRA 1M1: BBB+ (sf)/A- (sf) 1M2: BBB- (sf)/BBB+ (sf) 1B1: BB- (sf)/BBB- (sf) 1B2: B- (sf)/B+ (sf) |
S&P/KBRA 1M1: A- (sf)/A- (sf) 1M2: BBB (sf)/BBB+ (sf) 1B1: BB- (sf)/BB+ (sf) 1B2: B (sf)/BB- (sf) |
S&P/KBRA 1M1: BBB+ (sf)/A- (sf) 1M2: BBB (sf)/BBB (sf) 1B1: BB- (sf)/BB+ (sf) 1B2: B- (sf)/B+ (sf) |
Moody’s/KBRA 2M1: Baa2 (sf)/A- (sf) 2M2: Baa3 (sf)/BBB+ (sf) 2B1: Ba3 (sf)/BBB- (sf) |
S&P/DBRS 1M1: BBB+ (sf)/A (low) (sf) 1M2: BBB- (sf)/BBB (sf) 1B1: BB- (sf)/BB (sf) 1B2: B- (sf)/B (sf) |
S&P/KBRA 1M1: BBB+ (sf)/A- (sf) 1M2: BBB- (sf)/BBB (sf) 1B1: BB+ (sf)/BBB (sf) |
Moody's/DBRS 2M1: A3 (sf)/A (low) (sf) 2M2: Baa3 (sf)/BBB (sf) 2B1: Ba3 (sf)/BB (sf) |
S&P/KBRA 1M1: BBB+ (sf)/BBB+ (sf) 1M2: BBB- (sf)/BBB (sf) 1B1: BB- (sf)/BB+ (sf) |
S&P/KBRA 1M1: BBB+ (sf)/BBB+ (sf) 1M2: BBB- (sf)/BBB (sf) 1B1: BB- (sf)/BB+ (sf) 1B2: NR/B- (sf) |
S&P/KBRA 1M1: A- (sf)/BBB+ (sf) 1M2: BBB- (sf)/BBB- (sf) 1B1: BB- (sf)/BB (sf) 1B2: NR/B- (sf) |
Moody’s/KBRA 2M1: Baa1 (sf) / BBB (sf) 2M2: Baa3 (sf) / BBB- (sf) 2B1: Ba2 (sf) / BB+ (sf) 2B2: B3 (sf) / B+ (sf) |
S&P/KBRA 1M1: A- (sf)/A- (sf) 1M2: BBB- (sf)/BBB (sf) 1B1: BB- (sf)/BB (sf) 1B2: NR/B (sf) |
S&P/KBRA 1M1: A- (sf)/BBB+ (sf) 1M2: BBB- (sf)/BBB- (sf) 1B1: BB- (sf)/BB (sf) 1B2: NR/B (sf) |
Fitch/KBRA 2M1: BBB (sf) / BBB (sf) 2M2: BB (sf) / BBB- (sf) 2B1: B+ (sf) / BB (sf) 2B2: NR / B (sf) |
S&P/KBRA 1M1: A (sf)/A- (sf) 1M2: BBB (sf)/BBB (sf) 1B1: BB (sf)/BB+ (sf) 1B2: NR/B (sf) |
S&P/KBRA 1M1: A (sf)/BBB+ (sf) 1M2: BBB (sf)/BBB (sf) 1B1: BB (sf)/BB+ (sf) 1B2: NR/B (sf) |
Fitch/KBRA 2M1: BBB- (sf)/BBB (sf) 2M2: BB (sf)/BBB- (sf) 2B1: B+ (sf)/BB (sf) 2B2: NR/B- (sf) |
S&P/ DBRS Morningstar 1M1: BBB+ (sf)/BBB (high) (sf) 1M2: BBB-(sf)/BBB (sf) 1B1: B+ (sf)/BB (sf) 1B2: Unrated |
Fitch 1M2: B (sf) 1B1: NR |
Fitch 2M2: B (sf) 2B1: NR |
Fitch/KBRA 2M1: BBB-(sf)/BBB (sf) 2M2: B+ (sf)/BB- (sf) 2B1: Unrated |
Fitch/KBRA 1M1: BBB-sf/BBB+ (sf) 1M2: Bsf/BB (sf) 1B1: Unrated |
S&P/KBRA M2: B (sf)/B (sf) B1: NR/NR |
Fitch/KBRA 1M1: BBB-sf/BBB+ (sf) 1M2: Bsf/BB (sf) 1B1: Unrated |
S&P/Morningstar 2M1: BBB-(sf)/A- 2M2: B(sf)/BB+ 2B1: Unrated |
S&P/KBRA 1M1: BBB+ sf/ BBB+ sf 1M2: B+sf/BB sf 1B1: Unrated |
Fitch/Morningstar 2M1: BBB-sf/BBB+ 2M2: Bsf/BB 2B1: Unrated |
S&P/Morningstar 1M1: BBB+ sf/A 1M2: B+sf/BBB- 1B1: Unrated |
S&P/Morningstar 1M1: BBB+ sf/A 1M2: B+sf/BBB- 1B1: Unrated |
Fitch/Morningstar 2M1: BBB-sf/A 2M2: Bsf/BBB 2B1: Unrated |
Fitch/KBRA 1M1: BBB-sf/A+ (sf) 1M2: Bsf/BB (sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB-sf/BBB+ (sf) 2M2: Bsf/B+(sf) 2B1: Unrated |
Fitch/KBRA 1M1: BBB-sf/A (sf) 1M2: Bsf/BB (sf) 1B1: Unrated |
Fitch/DBRS 1M1: BBB-sf/BBB (high) (sf) 1M2: Bsf/B (high) (sf) 1B1: Unrated |
Fitch/MS 2M1: BBB-sf/A+ 2M2: Bsf/BB+ 2B1: Unrated |
Fitch/DBRS 1M1: BBB-sf/BBB (sf) 1M2: Bsf/B (high) (sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB-sf/BBB+(sf) 2M2: Bsf/B+(sf) 2B1: Unrated |
Fitch/DBRS 1M1: BBB-sf/BBB (high) (sf) 1M2: Bsf/B (high) (sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB-sf/BBB (sf) 2M2: Bsf/B (sf) 2B1: Unrated |
Fitch/KBRA 1M1: BBB-sf/BBB+ (sf) 1M2: Bsf/BB- (sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB-sf/B+ (sf) 2M2: Bsf/B+ (sf) 2B1: Unrated |
Fitch/KBRA 1M1: BBB –sf/BBB+(sf) 1M2: Bsf/BB(sf) 1B1: Unrated |
Moody’s/DBRS 1M1: Baa3 (sf)/BBB (sf) 1M2: B3 (sf)/B (high)(sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB-sf/BBB(sf) 2M2: Bsf/B+(sf) 2B1: Unrated |
Fitch/KBRA 1M1: Baa3 (sf)/BBB(sf) 1M2: B2(sf)/ B(high)(sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB-sf/BBB(sf) 2M2: Bsf/B+(sf) 2B1: Unrated |
Fitch/KBRA 1M1: BBB-sf/BBB+(sf) 1M2: Bsf/BB(sf) 1B1: Unrated |
Fitch/KBRA 2M1: BBB -sf/BBB(sf) 2M2: Bsf/B+(sf) 2B: Unrated |
Fitch/KBRA 1M1: BBB-sf/BBB(sf) 1M2: B+sf/BB-(sf) 1B: Unrated |
Fitch/KBRA 2M1: BBB-(sf) / BBB(sf) 2M2: B(sf) / B+(sf) 2B: Unrated |
Moody’s/KBRA 1M1: Baa3(sf)/BBB+(sf) 1M2: B1(sf)/BB-(sf) 1B: Unrated |
Fitch/Kroll 2M1: BBB-(sf) / BBB(sf) 2M2: B(sf) / B+(sf) 2B: Unrated |
Fitch/KBRA 1M1: BBB-(sf) / BBB(sf) 1M2: B+(sf) / BB(sf) 1B: Unrated |
Moody's/KBRA 1M1: Baa3(sf)/BBB+(sf) 1M2: B1(sf)/BB(sf) 1B: Unrated |
Moody's/KBRA 2M1: Baa3(sf)/BBB(sf) 2M2: Ba3(sf)/BB-(sf) 2B: Unrated |
Moody's/KBRA 1M1: Baa3(sf)/BBB(sf) 1M2: Ba3(sf)/BB-(sf) 1B: Unrated |
Fitch/DBRS 2M1: BBB-sf / BBB (low) (sf) 2M2: Unrated |
Fitch/DBRS 1M1: BBB-sf / BBB (sf) 1M2: Unrated |
Fitch/Moody's 1M1: BBB-sf / A3 (sf) 1M2: Unrated |
Fitch/Moody's 2M1: BBB-sf / Baa1 (sf) 2M2: Unrated |
Fitch/Moody's 2M1: BBB-sf / Baa1 (sf) 2M2: Unrated |
Fitch/Moody's 1M1: BBB-sf / A3 (sf) 1M2: Unrated |
Fitch/DBRS 2M1: BBBsf / BBB (low) (sf) 2M2: Unrated |
Fitch/DBRS 1M1: BBB-sf / BBB (low) (sf) 1M2: Unrated |
Moody's/DBRS 2M1: Baa2(sf)/BBB(low)(sf) 2M2: Unrated |
Moody's/DBRS 1M1: Baa2(sf)/BBB(sf) 1M2: Unrated |
Fitch/DBRS 1M1: BBB-sf/BBB(high)(sf) 1M2: Unrated |
Fitch/DBRS 2M1: BBB-sf/BBB(high)(sf) 2M2: Unrated |
Fitch/S&P 1M1: BBB-sf/BBB-sf 1M2: Unrated |
Fitch/S&P 2M1: BBB+sf/BB(sf) 2M2: Unrated |
Fitch/Moody's M1: BBB-sf/Baa2 M2: Unrated |
Fitch M1: BBB-sf M2: Unrated |
| Notes | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. | The reference pool includes two groups, comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and 80.01 to 97.00 percent. |