Fannie Mae offers cash for eight mortgage-credit-risk note classes

Fannie Mae ($FNMA) has launched fixed-price cash tenders for all notes in eight specified Connecticut Avenue Securities classes issued by six mortgage-credit-risk-transfer trusts. Quoted consideration ranges from $1,016.20 to $1,041.40 per $1,000 of original principal, incorporating the applicable monthly certificate percentages. The offers expire at 5 p.m. New York time on October 2 unless extended or terminated earlier.

Purchases would reshape the group’s outstanding credit-risk-transfer exposure, with the eventual cash requirement dependent on valid tenders and acceptance. Standard settlement is expected on October 6, with guaranteed-delivery purchases expected one day later; accrued interest is additional. These are offers, not completed repurchases. The release’s original-principal figures should not be mistaken for current outstanding balances or a committed cash-spending total, particularly because certificate percentages affect consideration.

Sources:

• Fannie Mae company release via PR Newswire / StockTitan