Fannie Mae announced that the enterprise is making loan-level credit performance data available on more than 18 million single-family mortgages that the company has acquired since 2000.
This new data will help investors model the credit performance of loans owned or guaranteed by the government-sponsored enterprise as the firm works with the Federal Housing Finance Agency to develop potential risk-sharing transactions.
The data set will be updated on a quarterly basis.
"Transparency is a key component to encouraging private capital to re-enter the housing market," said Andrew Bon Salle, executive vice president, single-family underwriting, pricing and capital markets at Fannie Mae.
He added, "Our goal is to enable better modeling and understanding of the credit performance of Fannie Mae loans. Bringing private capital in to share some credit risk will help lay the foundation for a stronger mortgage finance system for the future."
The data set includes credit performance information on 30-year fully amortizing, full documentation, single-family, conventional fixed-rate mortgages.
These mortgages were delivered to the GSE between Jan. 1, 2000 and March 31, 2012, and originated beginning in Jan. 1999.
However various loans are not included in the dataset such as adjustable-rate mortgage loans, balloon mortgage loans, interest-only mortgage loans and Home Affordable Refinance Program mortgage loans.
Credit performance data includes voluntary prepayments, repurchases, and delinquencies of up to 180 days.
Activities that can occur up to the period at which a loan becomes 180 days delinquent, such as mortgage modifications, short sales, deeds-in-lieu of foreclosure, third-party sales, and Fannie Mae’s acquisition of real estate owned (REO) properties will also be included.
"This release represents an important step toward returning private capital to the mortgage market and follows a similar data release by Freddie Mac last month," according to the FHFA.
The agency added, "By increasing transparency in loan-level credit performance of single-family mortgages, these releases pave the way for Freddie Mac and Fannie Mae to pursue risk-sharing transactions."