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Fannie Mae Connecticut Avenue Securities Receive NAIC Designations for the 2017 Filing Year

Jan 03, 2018

OTC Disclosure & News Service

- Fannie Mae Connecticut Avenue Securities Receive NAIC Designations for the 2017 Filing Year

Fannie Mae Connecticut Avenue Securities Receive NAIC Designations for the 2017 Filing Year

PR Newswire

WASHINGTON, Jan. 3, 2018 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) today announced that Fannie Mae's Connecticut Avenue Securities™ (CAS) transactions received designations from the National Association of Insurance Commissioners (NAIC). The first six CAS transactions in 2017 received Designations for the first time. NAIC Designations associated with the CAS 2017-C07 transaction are expected to be available in January 2018.

The following CAS bonds received an NAIC Designation for the first time in the 2017 filing year.

M1 Classes

Designation

Class

CUSIP

NAIC 1

CAS 2017-C01 1M1

30711XEK6

NAIC 1

CAS 2017-C02 2M1

30711XGK4

NAIC 1

CAS 2017-C03 1M1

30711XJS4

NAIC 1

CAS 2017-C04 2M1

30711XLS1

NAIC 1

CAS 2017-C05 1M1

30711XNS9

NAIC 1

CAS 2017-C06 1M1

30711XQS6

NAIC 1

CAS 2017-C06 2M1

30711XSS4

M2 Classes

Designation

Class

CUSIP

NAIC 2

CAS 2017-C01 1M2

30711XEP5

NAIC 3

CAS 2017-C02 2M2

30711XGP3

NAIC 2

CAS 2017-C03 1M2

30711XJX3

NAIC 3

CAS 2017-C04 2M2

30711XLT9

NAIC 2

CAS 2017-C05 1M2

30711XNX8

NAIC 3

CAS 2017-C06 1M2

30711XQX5

NAIC 4

CAS 2017-C06 2M2

30711XSX3

The following CAS bonds received NAIC Designation upgrades in the 2017 filing year.

Designation*

Class

CUSIP

NAIC 1

CAS 2015-C04 1M2

30711XBF0

NAIC 1

CAS 2015-C04 2M2

30711XBH6

NAIC 1

CAS 2016-C01 2M2

30711XBU7

NAIC 1

CAS 2016-C03 1M2

30711XCL6

NAIC 1

CAS 2016-C04 1M2

30711XDA9

NAIC 2

CAS 2016-C05 2M2

30711XDK7

NAIC 1

CAS 2016-C06 1M2

30711XDS0

*Note: All NAIC 1 Designations were upgraded from an NAIC 2 Designation.  The NAIC 2 Designation was upgraded from an NAIC 3 Designation.

For all NAIC Designations for the 2017 filing year, please view the NAIC Designations table on our website.

The NAIC's Structured Securities Group (SSG) describes its Designations on its webpage. An NAIC 1 obligation should be eligible for the most favorable treatment provided under the NAIC Financial Conditions Framework, while an NAIC 2 obligation should be eligible for relatively favorable treatment under the NAIC Financial Conditions Framework.[i]

The National Association of Insurance Commissioners 2017 Mortgage Reference Securities Report is not a substitute for or functional equivalent of the credit ratings of rating agencies and is not produced to permit investors to compare the likelihood of default or of full and timely payment between one or more securities.

About Connecticut Avenue Securities
CAS notes are bonds issued by Fannie Mae. 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 individual CAS transactions and Fannie Mae's approach to credit risk transfer, visit our credit risk sharing website.

 

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families 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 and follow us on twitter.com/fanniemae.

 

[i] The NAIC's SSG is responsible for the day-to-day credit quality assessment and valuation of securities owned by state regulated insurance companies. The NAIC's Securities Valuation Office conducts credit analysis on these securities for the purpose of assigning an NAIC designation and/or unit price.

Cision View original content:http://www.prnewswire.com/news-releases/fannie-mae-connecticut-avenue-securities-receive-naic-designations-for-the-2017-filing-year-300577271.html

SOURCE Fannie Mae

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