Fannie Mae Concludes Tender Offer for CAS Notes

The company confirmed that the tender offer, initiated on September 28, resulted in significant participation across its CAS portfolio. The highest volume of participation was observed in the 2023-R01 Class 1M-2 notes, which saw a 98.80% tender rate, followed closely by the 2022-R08 Class 1M-2 notes at 90.60%. Conversely, the 2023-R02 Class 1M-1 notes saw the lowest participation at 2.98%.

Fannie Mae expects to finalize the settlement for the majority of accepted notes on Tuesday, October 6, 2026. Securities submitted via the Notice of Guaranteed Delivery are slated for purchase on October 7. BofA Securities and Citigroup Global Markets served as the dealer managers for the transaction, while Global Bondholder Services Corporation managed the tender and information processing.