Kimberly Johnson

WASHINGTON, DC-Fannie Mae has taken a step closer to more elaborate risk sharing structures with the release of a new data point: loan-level credit performance data for more than 18 million single-family mortgages the GSE has acquired since 2000.

This data will help investors model the credit performance of loans owned or guaranteed by Fannie Mae. “Transparency is a key component to encouraging private capital to reenter the housing market,” noted Andrew Bon Salle, Executive Vice President, Single-Family Underwriting, Pricing, and Capital Markets, Fannie Mae, in a prepared statement. “Bringing private capital in to share some credit risk will help lay the foundation for a stronger mortgage finance system for the future.”

The dataset includes credit performance information on 30-year, fully amortizing, full documentation, single-family, conventional fixed-rate mortgages. These mortgages were delivered to Fannie Mae between January 1, 2000 and March 31, 2012 and originated beginning in January 1999.

Not included in the dataset are adjustable-rate mortgage loans, balloon mortgage loans, interest only mortgage loans, mortgage loans with prepayment penalties, government-insured mortgage loans, Home Affordable Refinance Program (HARP) mortgage loans, Refi Plus mortgage loans, and other non-standard mortgage loans.

The dataset will be updated on a quarterly basis.

Separately, Fannie Mae continues to, like its counterpart Freddie Mac, bring to the capital markets its multifamily securities. Last week Fannie Mae priced its fourth Multifamily DUS REMIC for the year, totaling $911.4 million.

It was a slight modification of Fannie Mae’s typical issuance in that it was structured with a series of sequential tranches to meet investor demand on the shorter end of the curve, according to Kimberly Johnson, Fannie Mae Senior Vice President of Multifamily Capital Markets.