Fannie Mae to Enhance Connecticut Avenue Securities Ongoing Disclosures
Fannie Mae will be making enhancements to its Connecticut Avenue Securities (CAS) Ongoing Disclosures when it releases its Payment Date Statements on May 26, 2014.
The enhancement will expand the Refinance allowable values for “Loan Purpose” to include Refinance – No Cash Out, Refinance – Cash Out, and Refinance – Not Specified. This change will result in the removal of the data attribute “Purpose – Cash Out.” The enhancement will also include two new data attributes, “Total Principal Current” and “Unscheduled Principal Current” in the CAS ongoing disclosures, in addition to providing a clarification to the “Scheduled Principal Current” definition.
These enhancements will result in changes to the file layout and glossary for the outstanding CAS transactions (CAS 2013-C01 and CAS 2014-C01), as well as to the at-issuance and ongoing disclosures for all future transactions. The enhancements will not be applied retroactively to CAS Payment Date Statements that have previously been released.
In conjunction with these enhancements, Fannie Mae will be merging its CAS At-Issuance and Ongoing File Layouts and Glossaries for ease of user reference. The new file layout is available to help investors prepare for the upcoming data file changes. The new glossary will be available with the release of the May 26, 2014 Payment Date Statements.
Originally published: 04/15/14