Fannie Mae to Enhance Connecticut Avenue Securities Ongoing Disclosures

September 11, 2014

Fannie Mae will be making an enhancement to its Connecticut Avenue Securities (CAS) disclosures when it releases its Payment Date Statements for all outstanding transactions on September 25, 2014. This enhancement will also apply to all future transactions disclosures.

The enhancement will update the "Zero Balance Code" data field on the Ongoing Disclosure file to include code 96.  Code 96 will indicate that a loan has been removed from the reference pool and the associated reference loan’s balance reduced to zero due to a data error correction or data abnormality, as reported by the Servicer, which caused such reference loan to no longer meet the eligibility criteria required to remain in the reference pool. When a loan becomes subject to such a removal, the unpaid principal balance will be allocated to the related reference tranches as unscheduled principal.

The updated glossary is available to help investors prepare for the upcoming data file enhancement.

Please contact Fannie Mae at 202-752-7115 or by email with questions.

Originally published: 09/11/14