Fannie Mae Updates SF and MF MBS Documents to Reflect LIBOR Replacement Indices
In preparation for LIBOR’s cessation on June 30, 2023, Fannie Mae is updating several of its Mortgage-Backed Securities (MBS) resource documents to reflect the replacement rates for legacy Single-Family and Multifamily LIBOR-indexed Adjustable-Rate Mortgage (ARM) MBS. As of June 26, any previous reference to LIBOR will reflect the corresponding replacement index name in the following documents. There are no changes being made to the prefix and subtype enumerations; rather, just the index names are being updated.
- Fannie Mae Pool Prefix Glossary
- Fannie Mae ARM MBS Subtypes
- Fannie Mae Single-Family MBS Disclosures Guide
Additionally, Fannie Mae disclosure files will be updated to reflect the replacement indices for legacy LIBOR-indexed Single-Family and Multifamily Collateralized Mortgage Obligations (CMOs), beginning with the July 13th publication for the Single-Family Monthly Reset File, available in PoolTalk, and beginning with the July 21st publication for the Multifamily REMIC Ongoing Supplemental Files available in DUS Disclose.
Visit Fannie Mae's LIBOR Transition website, LIBOR Transition playbook and LIBOR Transition FAQs to learn more about the LIBOR transition, including the replacement indices for each legacy LIBOR-indexed product.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this announcement constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in Fannie Mae's applicable Prospectus and the Prospectus Supplement and the related legal documentation, and no reliance may be placed on the completeness or accuracy of the information contained in this announcement.
You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.