Announcement

Fannie Mae Provides Insight into Hurricane Milton and Helene

October 22, 2024

Fannie Mae is committed to ensuring assistance is available to homeowners in need and we have reminded homeowners, renters, and mortgage servicers of disaster relief options for those affected by recent hurricanes. In response to the recent events surrounding Hurricane Milton, we are providing transparency to the market community to assist in analysis of our Single-Family Connecticut Avenue Securities® (CAS) and Credit Insurance Risk Transfer™ (CIRT™) programs. Additionally, we have updated information related to Hurricane Helene and the potential impact on areas affected by both Helene and Milton.

In addition to our normal hurricane summary reporting, the Hurricane Milton table includes two additional columns that provide the following information:

  • The percentage of unpaid principal balance (UPB)of loans secured by properties located in Federal Emergency Management (FEMA) counties designated for Individual Assistance (IA) for Hurricane Milton, that are also designated for IA due to Hurricane Helene, as of October 16, 2024.
  • The percentage of UPB of loans secured by properties located in areas with potential damage* from Hurricane Milton that overlap with areas determined to be potentially damaged by Hurricane Helene, as of October 16, 2024.

Any material Hurricane Milton-related impacts on Multifamily properties securing Fannie Mae loans will be communicated in a future update.

For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.

*This analysis provides the estimated percentage of UPB of the underlying properties located in areas that Fannie Mae has determined may have experienced hurricane-force winds, storm surge, or rain-driven flood due to Hurricane Milton and Helene. The figures were derived based principally on information about geographic areas affected by the storms. The figures do not purport to include all properties that were impacted by the storms and may include properties that were not impacted. In addition, flooding and other storm related hazards continue to cause damage to properties in surrounding areas, so properties that are not currently impacted may be impacted in the future. In addition, it is not certain that all loans associated with properties impacted by the storms will experience losses. These figures have been updated as of October 16, 2024.