Fannie Unveils New Hybrid ARM Security: More Liquidity, Better Pricing Expected
April 11, 2003
Responding to lender and investor demands, Fannie Mae this week unveiled a new standardized hybrid adjustable-rate mortgage product that is expected to be a big hit in the agency mortgage-backed securities market. The new 5/1 hybrid MBS product, the first expected to qualify for to-be-announced, or TBA, delivery, will start appearing next month. The new securities are likely to garner a lot of interest