Fannie Mae Announces 2022 Connecticut Avenue Securities (CAS) Issuance Calendar

Rhea-AI Summary

Fannie Mae (OTCQB: FNMA) has unveiled its 2022 Connecticut Avenue Securities (CAS) Issuance Calendar, indicating a potential issuance of roughly $15 billion in CAS REMIC transactions, contingent on market conditions. Since 2013, Fannie Mae has transferred credit risk on single-family mortgages amounting to nearly $2.4 trillion. The issuance windows span from January to December, with specific timeframes outlined for each month. This initiative aims to enhance market transparency and manage credit risk effectively.

Positive

• Potential issuance of approximately $15 billion in CAS REMIC transactions in 2022.
• Managed credit risk on single-family mortgages worth $2.4 trillion since 2013.

Negative

• None.

WASHINGTON, Dec. 16, 2021 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) announced today its 2022 Connecticut Avenue Securities^® (CAS) Issuance Calendar as part of its efforts to ensure transparency in the market. Fannie Mae has the option to issue, or forgo issuance of, one or more CAS deals during each window.

"In 2022, we look forward to bringing approximately $15 billion in our on-the-run CAS REMIC^® transactions, subject to market conditions and other factors," said Devang Doshi, Senior Vice President, Single-Family Capital Markets, Fannie Mae.

Month(s)	Issuance Window	Two Benchmark CAS REMIC Transactions
January/February	Early January to early February	+   +
March	Early March to mid-March	+   +
April/May	Late April to mid-May	+   +
June/July	Late June to mid-July	+   +
August/September	Early August to mid-September	+   +
October/November	Mid-October to mid-November	+   +
December	Mid-December

Since 2013, Fannie Mae has transferred a portion of the credit risk on single-family mortgages with an unpaid principal balance close to $2.4 trillion through its credit risk transfer efforts, including CAS, Credit Insurance Risk Transfer™ (CIRT™), and other forms of risk transfer.

About Connecticut Avenue Securities:
CAS REMIC notes are issued by a bankruptcy-remote trust. The amount of periodic principal and ultimate principal paid by Fannie Mae is determined by the performance of a large and diverse reference pool. For more information on our approach to credit risk management, individual CAS transactions, and EU and UK investor resources, visit our credit risk transfer website.

About Fannie Mae
Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of people in America. We partner with lenders to create housing opportunities for people across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit: fanniemae.com | Twitter | Facebook | LinkedIn | Instagram | YouTube | Blog

Fannie Mae Newsroom
https://www.fanniemae.com/newsroom

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Fannie Mae Resource Center
1-800-2FANNIE

Statements in this release regarding the company's future CAS transactions are forward-looking. Actual results may be materially different as a result of market conditions or other factors listed in "Risk Factors" or "Forward-Looking Statements" in the company's annual report on Form 10-K for the year ended December 31, 2020. This release does not constitute an offer or sale of any security. Before investing in any Fannie Mae issued security, potential investors should review the disclosure for such security and consult their own investment advisors.

View original content:https://www.prnewswire.com/news-releases/fannie-mae-announces-2022-connecticut-avenue-securities-cas-issuance-calendar-301446541.html

SOURCE Fannie Mae

FAQ

What is Fannie Mae's 2022 CAS Issuance Calendar?

Fannie Mae's 2022 CAS Issuance Calendar outlines potential issuance of up to $15 billion in CAS REMIC transactions based on market conditions.

How much credit risk has Fannie Mae transferred since 2013?

Since 2013, Fannie Mae has transferred credit risk on single-family mortgages totaling approximately $2.4 trillion.

What are the planned issuance windows for CAS in 2022?

The planned issuance windows for CAS in 2022 are outlined monthly from January to December, including specific dates.

What is the significance of the CAS REMIC transactions for investors?

CAS REMIC transactions are significant as they provide investors with insights into Fannie Mae's credit risk management and market strategies.