Fannie Mae Provides 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 are providing transparency to the market community to assist in analysis of our Connecticut Avenue Securities® (CAS) and Credit Insurance Risk Transfer™ (CIRT™) programs.
This table provides the active unpaid principal balance (UPB) percentage located in Federal Emergency Management Agency (FEMA) counties designated for Individual Assistance (IA) for our outstanding CAS and CIRT transactions. The list of FEMA IA counties is as of October 4, 2022. The FEMA designations do not indicate that all properties backing reference loans in these counties were impacted.
As we’ve done previously, we anticipate enhancing this analysis with deal-level estimates of the percentage of UPB where Fannie Mae has determined that the underlying properties have potentially been damaged by the hurricane as that information becomes available.
Please reach out to the Fannie Mae Investor Help Line at 1-800-232-6643 or by email with feedback or questions.