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.

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Transaction 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 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 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 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 $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 $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: $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 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: 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 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: 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: 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: 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.

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