Fannie Straightens Out Glitch in Portfolio MBS Program That Will Accelerate Certain Payments
July 24, 2009
Fannie Mae inadvertently included some loans that had already been liquidated in its new portfolio securitization program, a mistake that will cause a spurt of principal payments in the first month cash flows on the MBS. The government-sponsored enterprise said some liquidated loan balances and partial curtailments that had been made in April were mistakenly included in some May portfolio...