J.P. Morgan providing operational services for Fannie Mae’s mortgage-backed securities portfolio

Nov 23, 2016

The firm announced that it has successfully transitioned Fannie Mae’s mortgage-backed securities (MBS) holdings to J.P. Morgan’s Custody and Fund Services platform, in order to provide safe-keeping and settlement services for collateral backing Fannie Mae-issued MBS held in their Collateral Trust Portfolios.

“This was a true collaboration between our business and the Fannie Mae team,” said Teresa Heitsenrether, Global Head of Custody and Fund Services at J.P. Morgan. "We are thrilled to have successfully completed this historic conversion in a way that also benefits Fannie Mae and its public mandate.”

The transition of Fannie Mae’s MBS securities holdings to J.P. Morgan’s technology and operational infrastructure is one of the largest ever in size and scope – measured by the 500,000 securities positions that the firm now services. The securities servicing relationship spans trade processing and settlement, asset servicing, reconciliation and reporting.

“We are pleased with the successful transition to J.P. Morgan’s systems,” said Kevin Autrey, Vice President for Capital Markets Operations at Fannie Mae. “This allows us to streamline operations, retire legacy technology, and move the support for these securities to a firm that is well suited to handle large volumes of transactions.”


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