Announcement

Fannie Mae Provides Insight into Southern California Wildfires

January 16, 2025

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 the recent wildfires in southern California. In response to these events, we are providing additional transparency to the market community to assist in the analysis of our Single-Family (SF) Connecticut Avenue Securities® (CAS) and Credit Insurance Risk Transfer™ (CIRT™) programs.

This table provides the following for our outstanding SF CAS and CIRT transactions:

  • Active unpaid principal balance (UPB) percentage secured by properties located in the Federal Emergency Management Agency (FEMA) Individual Assistance (IA) designated area for the California wildfires as of January 14, 2025. As of January 14, the IA designation only includes Los Angeles County.
  • Deal-level estimates of the percentage of UPB where Fannie Mae has determined that the underlying properties have potentially been damaged by the California wildfires*.

As of January 14, 2025, no Fannie Mae multifamily properties in the California-wildfire impact zone are included in the Multifamily Credit Risk Transfer (MCRT) book. Based on this preliminary information, Fannie Mae currently anticipates the damage resulting from the wildfires will not materially impact the overall MCRT book of business; however, as is our standard process, we will continue to monitor the impact as further information about potentially affected properties is known.

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 fire due to the January 2025 California wildfires. The figures were derived based principally on information about geographic areas affected by the fires. The figures do not purport to include all properties that were impacted by the fires and may include properties that were not impacted. In addition, fire and other 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 fires will experience losses. These figures are as of January 14, 2025.