Fannie Mae Increases Loan-Level Transparency for its Credit Insurance Risk Transfer program

December 28, 2017


As announced in September, in an effort to provide greater transparency to the market, today Fannie Mae released monthly loan-level disclosure data for its Credit Insurance Risk Transfer (CIRT) transactions.  In support of this data release, the following items are now available:

Updated CIRT disclosure data will be published on a monthly basis in accordance with our normal remittance schedule.

There are 14 new CIRT specific data attributes that have replaced the “Filler” fields in the Credit Risk Transfer File Layout in order to improve reinsurers’ ability to monitor their investments in the CIRT program. The 14 new data attributes are listed below and definitions are included in the Credit Risk Transfer Glossary.

ARM Initial Fixed-Rate Period  ≤ 5yr Flag Indicator

Next Interest Rate Change Date

ARM Cap Structure

Lifetime Interest Rate Cap Up Percent

ARM Index

Mortgage Margin

ARM Product Type

Initial Fixed-Rate Period

ARM Balloon Indicator

Interest Rate Adjustment Frequency

ARM Plan Number

Next Payment Change Date

Initial Interest Rate Cap

Periodic Interest Rate Cap Up Percent

In conjunction with the data release, we now provide enhanced CIRT webpages to market participants.

Loan level disclosure data on Fannie Mae’s CIRT program is also found in our unique analytical tool, Data Dynamics®, which was created to help market participants model the credit performance of loans owned or guaranteed by Fannie Mae as we work to further develop our credit risk sharing programs. 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.