CRT-Eligible Profile Summary

CAS REMIC Structure Credit and prepayment performance of the underlying mortgage loans determines performance of CAS securities · - - Hypothetical Structure - CAS REMIC Notes in Blue Reference Pool Fannie Mae acquires and makes a REMIC election on loans Loans are deposited into MBS Loans in reference pool meet CAS Eligibility Criteria 1 REMIC regular interests that are associated with the loans are conveyed to the CAS REMIC Class A-H Fannie Mae retains senior-most risk position CAS REMIC 2 Issuer issues Class M-1, M-2, B-1 and B-2 Notes. Class M-1 Sold to investors Trust (Issuer) Bankruptcy Receives cash proceeds Fannie Mae Remote Trust 3 Issuer pays interest (uncapped SOFR floater) Issuer repays principal less credit Class M-1H Fannie Mae retains 5%+ vertical slice Class M-2 Sold to investors Class M-2H Fannie Mae retains 5%+ vertical slice Collateral Account Class B-1 and applicable modification losses Sold to investors Earnings on Eligible Investments in Collateral Account contributes to interest on Notes and proceeds from liquidation of Eligible Investments covers return amounts to Fannie Mae and pays principal on Notes 22 © 2024 Fannie Mae Class B-2 Sold to investors Class B-1H Fannie Mae retains 5%+ vertical slice Class B-2H Fannie Mae retains 5%+ vertical slice Class B-3H Fannie Mae retains first loss position Loss Allocation

View entire presentation