Fannie Mae has Published Updated Single-Family and Multifamily Prospectuses and Trust Documents Effective May 1, 2023

Fannie Mae has updated its Single-Family Mortgage-Backed Securities (MBS) Prospectus. The updates include, but are not limited to, the following:

• The adoption of the Secured Overnight Financing Rate ("SOFR") as the benchmark index to replace the London Interbank Offered Rate ("LIBOR")
• Description of the Single-Family Social Index
• 2023 loan limits

Fannie Mae also updated the following Prospectuses and Trust Agreements:

• Single-Family REMIC Prospectus
• Single-Family Mega Prospectus
• Single-Family Supers Prospectus
• Stripped Mortgage-Backed Securities (SMBS) Prospectus
• Multifamily REMIC Prospectus
• REMIC Master Trust Agreement
• SMBS Master Trust Agreement

These updates are primarily related to, but not limited to, the adoption of SOFR as the benchmark index to replace LIBOR.

The updated Prospectuses and Trust Agreements are effective on or after May 1, 2023. Investors are advised to review the applicable Prospectuses and Trust Agreements in their entirety.

For questions, please contact the Fannie Mae Investor Help Line at 1-800-232-6643, Option 3 or by e-mail.