Fannie Mae to Enhance Connecticut Avenue Securities File Layout

Fannie Mae is enhancing its Connecticut Avenue Securities (CAS) disclosure data set layout in conjunction with the CAS program’s shift to an actual loss framework. This new layout will apply to all disclosure data files published for CAS deals on or after November 25, 2015, including the at-issuance disclosure file for the CAS 2015-C04 deal.

The enhancements include the addition of new loan-level data elements to help investors better monitor their investments in the program, including:

• borrower and co-borrower credit scores, provided at deal issuance and subsequently refreshed on a monthly basis,
• original and current property list prices and dates for reference obligations that transition into Fannie Mae’s Real Estate Owned inventory, and
• detailed expense and proceeds fields that provide investors with additional granularity into the associated liquidation components of a defaulted reference obligation.

Please note that while this enhanced layout will be incorporated in the disclosure data files for all CAS deals starting November 25, 2015, only CAS 2015-C04 and subsequently issued deals will have certain data field enhancements populated, as indicated in the file layout. If a field is not applicable for a particular deal, the field will be left blank.

A file layout (PDF) and glossary (PDF) are provided to assist market participants in understanding these changes.

Investors with questions may contact the Fannie Mae Investor Helpline at 1-800-237-8627 or by e-mail.

Originally published: 10/16/15