Fannie’s New ‘Benchmark REMIC’ Eyes Overseas Investors to Bring More Capital to U.S. Housing
April 28, 2006
More international investors may be interested in buying Fannie Mae mortgage securities thanks to a new Benchmark REMIC program the government-sponsored enterprise has set up. The program is similar to the successful Reference REMIC launched a year ago by rival Freddie Mac. Fannie’s Benchmark REMIC features “a guaranteed final maturity, increased transparency and liquidity, and relative value opportunities versus comparable securities such as agency collateralized mortgage obligations,” according to a Credit Suisse analysis. …