Fannie Mae Updates Multifamily MBS Prospectuses Effective April 1, 2023, and Enhances Disclosures to Multifamily Loan Performance Data
Updated Multifamily MBS Prospectuses Effective as of April 1, 2023
Fannie Mae has published updated Multifamily MBS Prospectuses, which will be used for Multifamily MBS issued on or after April 1, 2023.
Changes include, but are not limited to, the following:
- Updates to sections related to the Secured Overnight Financing Rate (SOFR) to provide investors with the latest information regarding the transition to SOFR
- Further details on new Affordable Housing initiatives at Fannie Mae
- Updated information about the Tenant Site Lease Protections program in the sections related to Manufactured Housing Communities
- Updates to sections related to the COVID-19 pandemic to reflect the current pandemic-induced impacts on our securities
- Additional information on Delaware Statutory Trusts and addition of information about Series Limited Liability Company borrower structures
The updated prospectuses may be accessed from our website and investors are advised to review the documents in their entirety.
Enhanced Data Attributes Available in the Multifamily Performance Data
Two new data fields will be implemented in the next release of the Multifamily Loan Performance Data (MFLPD). The new data attributes identify whether the loan qualifies as a Green Bond and/or a Social Bond. To assist market participants with these new data fields, please refer to the following table. The updated MFLPD Glossary and File Layout are also available here.
| Position (MFLPD file) | Attribute Name | Definition | Notes | Allowable Values | Data Type |
|---|---|---|---|---|---|
| 61 | Green Bond Indicator | Indicates that the collateral qualifies for inclusion in a Green MBS | Green Bonds can also qualify as Social Bonds | • Y • N • Null |
VARCHAR2 |
| 62 | Social Bond Indicator | Indicates that the collateral qualifies for inclusion in a Social MBS | Social Bonds can also qualify as Green Bonds | • Y • N • Null |
VARCHAR2 |
These two new data fields will be populated for all loans within the MFLPD. Additionally, both fields will be available in the MFLPD and the Multifamily DUS Prepayment History Data, as well as the downloadable file, accessible in Data Dynamics®. These data sets are updated approximately two weeks after the end of each calendar quarter with the previous quarter's information.
Fannie Mae also recently published a Product Overview on Manufactured Housing Communities (MHC), providing investors with background information on the underwriting, monitoring, and historical performance of our Multifamily MHC portfolio.
For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.