Mortgage Backed Securities

 
 

Mortgage Backed Securities: FNMA, FHLMC, GNMA

Fannie Mae (FNMA)

  • 15 or 30 year maturity types
    • Mega
    • MBS

Freddie Mac Clearing (FHLMC)

  • 15 or 30 year maturity types
    • Gold
    • Giant

Ginnie Mae Clearing (GNMA - Government National Mortgage Association)

  • 15 or 30 year maturity types
    • Ginnie Mae I
    • Ginnie Mae II

Allowable Attributes:

  • fixed rate
  • conventional
  • multi or single family

Mandatory Criteria for the Direct Acceptance of Mortgage Backed Securities

  • Must have an active price as carried by the Bloomberg Generic Pricing System
  • Must be delivered with repo-tracking code of STRP in field 22F of Fed Wire message to Bank of New York and JP Morgan Chase. Please see Federal Reserve Bank Services website at http://www.frbservices.org/ for more information on repo-tracking

Limits 
U.S. Agencies, Mortgage Backed Securities, Letters of Credit, and IEF 5 on a combined basis are eligible for 40% of firm’s core requirement. Haircut is 11% on a market value. Letters of Credit are not acceptable for Forwards or Swaps.

 

 

 
 
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