Fannie Mae Re-publishes Loan Level Disclosure File to Incorporate Updated Credit Scores on a Small Number of MBS Pools
Fannie Mae has re-published the monthly Loan Level Disclosure file (most recently published on January 5, 2018) to incorporate updated credit scores for a subset of loans backing certain Reperforming Loan Agency MBS pools. The re-published file includes credit score updates to loans that are collateral for seventeen pools that Fannie Mae sold as specified low-FICO pools, based on credit score characteristics known at the time of pooling. Post-sale, it was determined that some of the loans in these pools had FICO scores that were not updated within the timeframe as defined in our PoolTalk® glossary1. Upon receiving more current FICO scores for these loans, it was determined that the new values were outside of the low-FICO parameters specified upon sale.
The corresponding pool-level disclosures for credit score, i.e., quartiles and weighted averages, which are published on our Supplemental File, will be updated at a later date, on or before the next disclosure publication date of February 6, 2018. Until the pool-level update is published, we recommend that market participants review the updated data on the newly published Loan Level Disclosures. We will notify the market once an updated Supplemental File is available.
The seventeen impacted pools are listed below, based on current loan count and current outstanding unpaid principal balance.
| Pool Number | Impacted Loan Count (#) | Total Loan Count (#) | Impacted Loan Count as a percentage of Total Loan Count | Impacted UPB ($) | Total Pool UPB ($) | Impacted UPB as a percentage of Total Pool UPB |
|---|---|---|---|---|---|---|
| BF0024 | 1 | 133 | 0.75% | $169,327 | $25,435,112 | 0.67% |
| BF0102 | 1 | 1,072 | 0.09% | $211,828 | $228,066,362 | 0.09% |
| BF0105 | 2 | 1,199 | 0.17% | $365,649 | $223,063,414 | 0.16% |
| BF0107 | 3 | 1,504 | 0.20% | $510,403 | $215,221,517 | 0.24% |
| BF0108 | 4 | 1,308 | 0.31% | $620,934 | $209,713,235 | 0.30% |
| BF0130 | 16 | 2,091 | 0.77% | $3,610,104 | $472,177,393 | 0.76% |
| BF0133 | 11 | 1,410 | 0.78% | $2,411,845 | $284,536,819 | 0.85% |
| BF0134 | 16 | 1,054 | 1.52% | $2,580,002 | $115,211,354 | 2.24% |
| BF0135 | 10 | 1,785 | 0.56% | $1,257,103 | $197,101,855 | 0.64% |
| BF0141 | 20 | 5,204 | 0.38% | $2,683,303 | $631,146,164 | 0.43% |
| BF0142 | 2 | 1,129 | 0.18% | $230,485 | $147,345,129 | 0.16% |
| BF0145 | 30 | 2,137 | 1.40% | $6,688,583 | $485,493,144 | 1.38% |
| BF0147 | 14 | 935 | 1.50% | $3,782,501 | $199,943,539 | 1.89% |
| BF0167 | 48 | 1,615 | 2.97% | $11,056,432 | $328,317,247 | 3.37% |
| BF0169 | 31 | 2,421 | 1.28% | $8,284,992 | $516,391,056 | 1.60% |
| BF0170 | 23 | 1,117 | 2.06% | $4,318,805 | $170,467,194 | 2.53% |
| BF0171 | 27 | 970 | 2.78% | $5,284,478 | $192,964,586 | 2.74% |
As a reminder, Fannie Mae has a claims process for investors when they have inquiries regarding the performance of a Fannie Mae security. Any claims related to this announcement should be submitted within six months of the date of the announcement. The associated claim should include evidence of ownership as of this announcement date. Fannie Mae's claims process and form are available here. You may also contact Fannie Mae’s Investor Help Line at 1-800-232-6643 or by e-mail in order to discuss next steps related to the claims process.
1 For Reperforming loans, this represents the most recently available credit score provided by Equifax to Fannie Mae generally in the month of the MBS issuance or within the three months prior to the MBS issuance