Connecticut Avenue Securities Investor Presentation

CAS REMIC Key Deal Features Most of the features of the existing CAS structure are unchanged: ◉ Loan eligibility Capital structure ☐ - Actual loss calculations Modification loss calculations High LTV Refinance program provisions (i.e., continuance of coverage for loans that refinance under the High LTV Refi program) ☐ Timing of cash flows and loss allocations. Final maturity date/call date Offered as par-priced uncapped LIBOR floater Risk retention features CFTC Considerations: Like the previous CAS debt transactions, the CAS REMIC has been structured in a manner that does not involve any swaps; therefore the transaction is not considered a Commodity Pool 22 O 2021 Fannie Mae.

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