Fannie Mae to Add a "High LTV Refinance Option Indicator" and "Deal Name" Fields to its Credit Risk Transfer Disclosures
Fannie Mae continues to enhance its Connecticut Avenue Securities® (CAS) and Credit Insurance Risk Transfer™ (CIRT™) disclosure data set based on investor feedback and to provide greater transparency to the market. Beginning with its October 2018 remittance, Fannie Mae will introduce two new fields, "High Loan-to-Value Refinance Option Indicator" and "Deal Name," which will apply to all outstanding CAS deals and CIRT transactions going forward:
- Deal Name –The title of the series issuance.
- High Loan-to-Value (HLTV) Refinance Option Indicator – An indicator that denotes if an eligible original reference loan is refinanced under Fannie Mae's HLTV refinance option, which results in such mortgage loan remaining in the Reference Pool, as further defined in each individual CRT document, if applicable.
In addition to these two new fields, the allowable value ("3") of "Mortgage Insurance Type" field has been changed to "Enterprise Paid" Mortgage Insurance (EPMI). Previously, it was labeled as "Investor Paid" Mortgage Insurance (IPMI).
We have provided an updated File Layout and Glossary to reflect the new data attributes.
Visit our webpages to learn more about our programs and our industry-leading approach to credit risk management.
Please contact the Fannie Mae Investor Help Line at 1-800-2Fannie or by e-mail with any questions.