Fannie Fulfills MBS Disclosure Pledge

Fannie Mae has announced that all new issuances of its mortgage-backed securities will be accompanied by the six additional "pool-specific" disclosures it recently pledged to provide, and that the same information will be provided for existing MBS beginning in June.The new data elements are: loan-to-value ratios, borrowers' credit scores, loan purpose, occupancy type, property type, and servicer identity. A federal task force consisting of the Office of Federal Housing Enterprise Oversight, the Treasury Department, and the Securities and Exchange Commission recommended in February that Fannie Mae and Freddie Mac make such disclosures, and the two government-sponsored enterprises quickly agreed to do so. The information on new Fannie Mae MBS will be included in its Single-Family MBS Prospectus Supplements, and the data for new pools and pools issued since May 1, 1996 will be updated monthly (starting in June) in Fannie Mae's online PoolTalk, the GSE said.