Implementation of DUS Disclose Enhancements
On April 30, 2018, Fannie Mae will implement enhancements to DUS Disclose™ that include expanded disclosure information on Multifamily Megas and additional disclosure information on Multifamily Mortgage-Backed Securities (MBS). These enhancements to DUS Disclose are the first step in separating Multifamily and Single-Family disclosure information from certain existing disclosure files outlined below. Enhancements to DUS Disclose for comprehensive Multifamily REMIC information are expected to be completed later this year.
The DUS Disclose Files will be updated to reflect these enhancements. In preparation, we have posted the following draft file layouts on the DUS Disclose Information Center to include the additional disclosure attributes for Multifamily MBS and Megas:
- Daily/Monthly New Issuance File;
- Daily/Monthly Corrections File;
- Monthly Ongoing File;
- Supplemental File; and
- Advanced Search Download Results.
Multifamily Disclosure File Separation
Beginning June 1, 2018, Multifamily MBS and Mega disclosure information will no longer be available in the following files published on PoolTalk®:
- New Issue Pool Statistics (NIPS);
- ARM Stats;
- Fixed-rate and Adjustable-rate Quartile Files; and
- GEO Stats File.
Similar information from the above files will be available on DUS Disclose and in the DUS Disclose Files. We have provided documents that map the attributes from the PoolTalk Files to the enhanced DUS Disclose Files on the DUS Disclose Information Center.
Along with changes to the PoolTalk files, Multifamily Megas will no longer be included in the following files on fanniemae.com:
- Mega Latest Postings;
- Monthly Collateral Summary;
- Recently Priced Mega Transactions; and
- Final Data Statements/Collateral printable and downloadable.
In addition, the Final Data Statement Supplements for Multifamily Megas will no longer be published.
For a comprehensive list of file changes, please refer to the draft Multifamily Disclosure File Publication and Timing document on the DUS Disclose Information Center.
With these enhancements, Fannie Mae will be publishing updated Legal Documents for our Multifamily Megas. Prior to the implementation of the enhancements, we will post a draft version of the 2018 Multifamily Mega Master Trust Agreement to the DUS Disclose Information Center. The new Trust Agreement will be effective for Multifamily Megas issued on or after May 1, 2018.
We also will post to the DUS Disclose Information Center before the implementation of the enhancements a Multifamily Mega Prospectus, effective for Multifamily Megas issued on or after May 1, 2018. This prospectus will replace the current Mega Prospectus and Prospectus Supplement Narrative.
Multifamily Megas issued under the new prospectus will include an Annex A as part of the at-issuance Multifamily Mega Prospectus. The Annex A will provide information on the underlying MBS collateral and replaces the Final Data Statement and Final Data Statement Supplement for Multifamily Megas.
Web Demonstration Training
Fannie Mae will host a series of web-based demonstrations of the new functionality. To receive an invitation to participate in one of the demonstrations, please register for Multifamily MBS News notifications here by Friday, April 6. If you are already registered to receive notifications, there is no need to sign up again.
The dates for the web demonstrations are as follows:
Tuesday, April 17, 2018 – Time: 1 PM to 1:30 PM
Thursday, April 19, 2018 – Time: 3 PM to 3:30 PM
Wednesday April 25, 2018 – Time: 1 PM to 1:30 PM
Prior to the release, we continue to post additional training and reference materials to the DUS Disclose Information Center to further assist market participants in acclimating to the enhancements. Register to receive notifications when the DUS Disclose Information Center is updated and other future enhancements to DUS Disclose are implemented.
If you have questions about DUS Disclose or the future enhancements, please contact Fannie Mae's Investor Help Line at 1-800-232-6643 or by email.