Fannie Mae Provides Additional Insight into Hurricane Ian
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 Ian, we published an announcement providing transparency to the market community to assist in analysis of our Connecticut Avenue Securities® (CAS) and Credit Insurance Risk Transfer™ (CIRT™) programs.
The tables have been updated to now include the following information:
- Deal-level estimates of the percentage of unpaid principal balance (UPB) where Fannie Mae has determined that the underlying properties have potentially been damaged by Hurricane Ian*. While the previous announcement provided all the Federal Emergency Management (FEMA) counties designated for Individual Assistance (IA), which are located in Florida, the damage area analysis also includes properties located in North Carolina and South Carolina
- Special Flood Hazard Area (SFHA) percentage located in FEMA counties designated for IA
- SFHA percentage where there may have been potential damage from Hurricane Ian
Please reach out to the Fannie Mae Investor Help Line at 1-800-232-6643 or by email with feedback or questions.
*This analysis provides the estimated percentage of unpaid principal balance (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 due to Hurricane Ian. The figures were derived based principally on information about geographic areas affected by the storm. The figures do not purport to include all properties that were impacted by the storm 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 storm will experience losses. These figures have been updated as of October 11, 2022.