(To REMIC Prospectus dated June 1, 2014) $484,017,546 · 1 Group 1 MBS 2 Group 2 MBS 3 Group 3 MBS...

Prospectus Supplement(To REMIC Prospectus dated June 1, 2014)

$484,017,546

Guaranteed REMIC Pass-Through CertificatesFannie Mae REMIC Trust 2018-25

The Certificates

We, the Federal National MortgageAssociation (Fannie Mae), will issue theclasses of certificates listed in the charton this cover.

Payments to Certificateholders

We will make monthly payments on thecertificates. You, the investor, willreceive• interest accrued on the balance of

your certificate (except in the case ofthe accrual classes), and

• principal to the extent available forpayment on your class.

We will pay principal at rates that mayvary from time to time. We may not payprincipal to certain classes for longperiods of time.

The Fannie Mae Guaranty

We will guarantee that required pay-ments of principal and interest on thecertificates are available for distributionto investors on time.

The Trust and its Assets

The trust will own• Fannie Mae MBS and• underlying REMIC certificates backed

by Fannie Mae MBS.

The mortgage loans underlying theFannie Mae MBS are first lien, single-family, fixed-rate loans.

Class Group

OriginalClassBalance

PrincipalType(1)

InterestRate

InterestType(1)

CUSIPNumber

FinalDistributionDate

AI . . . 1 $ 33,910,330(2) NTL 4.5% FIX/IO 3136B1UZ5 April 2048AG(3) . 1 139,992,341 SEQ 3.5 FIX 3136B1VA9 April 2047AL(3) . 1 12,604,144 SEQ 3.5 FIX 3136B1VB7 April 2048

FA . . . 2 38,474,961 PT (4) FLT 3136B1VC5 April 2048SA . . . 2 38,474,961(2) NTL (4) INV/IO 3136B1VD3 April 2048P . . . 2 52,866,000 PAC 3.5 FIX 3136B1 VE1 March 2046PL . . . 2 9,775,023 PAC 3.5 FIX 3136B1 V F 8 April 2048C . . . 2 14,308,901 SUP 3.5 FIX 3136B1VG6 April 2048

HF . . . 3 50,000,000 PT (4) FLT 3136B1VH4 April 2048HS . . . 3 50,000,000(2) NTL (4) INV/IO 3136B1 V J 0 April 2048HP(3) . 3 41,231,000 PAC/AD 4.0 FIX 3136B1VK7 May 2046PZ(3) . . 3 2,083,000 PAC/AD 4.0 FIX/Z 3136B1 V L 5 April 2048CZ(3) . . 3 6,686,000 SUP 4.0 FIX/Z 3136B1VM3 April 2048

PA . . . 4 58,878,000 PAC/AD 4.0 FIX 3136B1VN1 November 2041LP . . . 4 39,251,716 PAC/AD 4.0 FIX 3136B1 VP6 April 2048ZC . . . 4 17,866,460 SUP 4.0 FIX/Z 3136B1VQ4 April 2048

(Table continued on next page)

If you own certificates of certain classes, you can exchange them for certifi-cates of the corresponding RCR classes to be delivered at the time ofexchange. The AB, IA, A, AC, Z and TP Classes are the RCR Classes. For a moredetailed description of the RCR classes, see Schedule 1 attached to this pro-spectus supplement and “Description of the Certificates—Combination andRecombination—RCR Certificates” in the REMIC prospectus.

The dealer will offer the certificates from time to time in negotiated trans-actions at varying prices. We expect the settlement date to be March 29, 2018.

Carefully consider the risk factors starting on page S-9 of this prospectus supplement and starting onpage 14 of the REMIC prospectus. Unless you understand and are able to tolerate these risks, you shouldnot invest in the certificates.You should read the REMIC prospectus as well as this prospectus supplement.The certificates, together with interest thereon, are not guaranteed by the United States and do not constitute adebt or obligation of the United States or any agency or instrumentality thereof other than Fannie Mae.The certificates are exempt from registration under the Securities Act of 1933 and are “exempted securities” underthe Securities Exchange Act of 1934.

J.P. MorganMarch 23, 2018

Class Group

OriginalClassBalance

PrincipalType(1)

InterestRate

InterestType(1)

CUSIPNumber

FinalDistributionDate

ST . . 5 $ 21,141,594(2) NTL (4) INV/IO 3136B1VR2 March 2042TI . . 5 13,473,864(2) NTL (5) WAC/IO 3136B1 V S 0 March 2042

SG . . 6 17,525,874(2) NTL (4) INV/IO 3136B1 V T 8 August 2044IT . . 6 12,314,281(2) NTL (6) WAC/IO 3136B1VU5 January 2041

R . . 0 NPR 0% NPR 3136B1VV3 April 2048RL . . 0 NPR 0 NPR 3136B1VW1 April 2048(1) See “Description of the Certificates—Class

Definitions and Abbreviations” in the REMICprospectus.

(2) Notional principal balances. These classes are interestonly classes. See page S-7 for a description of howtheir notional principal balances are calculated.

(3) Exchangeable classes.

(4) Based on LIBOR.(5) The interest rate of the TI Class

is calculated as described onpage S-13.

(6) The interest rate of the IT Classis calculated as described onpages S-13 and S-14.

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TABLE OF CONTENTS

Page

AVAILABLE INFORMATION . . . . . . S- 3SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . S- 5ADDITIONAL RISK FACTORS . . . . . S- 9DESCRIPTION OF THE

CERTIFICATES . . . . . . . . . . . . . . . . . S-10GENERAL . . . . . . . . . . . . . . . . . . . . . . . . S-10

Structure . . . . . . . . . . . . . . . . . . . . . . S-10Fannie Mae Guaranty . . . . . . . . . . . S-11Characteristics of Certificates . . . . . S-11Authorized Denominations . . . . . . . S-11

THE TRUST MBS . . . . . . . . . . . . . . . . . . S-11THE UNDERLYING REMIC

CERTIFICATES . . . . . . . . . . . . . . . . . . . S-12DISTRIBUTIONS OF INTEREST . . . . . . . . S-12

General . . . . . . . . . . . . . . . . . . . . . . . . S-12Delay Classes and No-Delay

Classes . . . . . . . . . . . . . . . . . . . . . . S-13Accrual Classes . . . . . . . . . . . . . . . . . S-13The TI Class . . . . . . . . . . . . . . . . . . . S-13The IT Class . . . . . . . . . . . . . . . . . . . S-13

DISTRIBUTIONS OF PRINCIPAL . . . . . . . S-14STRUCTURING ASSUMPTIONS . . . . . . . . S-15

Pricing Assumptions . . . . . . . . . . . . . S-15Prepayment Assumptions . . . . . . . . . S-16Principal Balance Schedules . . . . . . S-16

YIELD TABLES AND ADDITIONAL

YIELD CONSIDERATIONS . . . . . . . . . S-17General . . . . . . . . . . . . . . . . . . . . . . . . S-17The Fixed Rate Interest Only

Classes . . . . . . . . . . . . . . . . . . . . . . S-18

Page

The Inverse Floating RateClasses . . . . . . . . . . . . . . . . . . . . . . S-18

The TI and IT Classes . . . . . . . . . . . S-20WEIGHTED AVERAGE LIVES OF THE

CERTIFICATES . . . . . . . . . . . . . . . . . . S-20DECREMENT TABLES . . . . . . . . . . . . . . . S-20CHARACTERISTICS OF THE RESIDUAL

CLASSES . . . . . . . . . . . . . . . . . . . . . . . S-25CERTAIN ADDITIONAL FEDERAL

INCOME TAX CONSEQUENCES . . S-25REMIC ELECTIONS AND SPECIAL TAX

ATTRIBUTES . . . . . . . . . . . . . . . . . . . . S-26TAXATION OF BENEFICIAL OWNERS OF

REGULAR CERTIFICATES . . . . . . . . . . S-26TAXATION OF BENEFICIAL OWNERS OF

RESIDUAL CERTIFICATES . . . . . . . . . S-27TAXATION OF BENEFICIAL OWNERS OF

RCR CERTIFICATES . . . . . . . . . . . . . . S-27TAX AUDIT PROCEDURES . . . . . . . . . . . S-27FOREIGN INVESTORS . . . . . . . . . . . . . . . S-28

ADDITIONAL ERISACONSIDERATIONS . . . . . . . . . . . . . S-28

PLAN OF DISTRIBUTION . . . . . . . . . S-29CREDIT RISK RETENTION . . . . . . . S-29EUROPEAN ECONOMIC AREA

RISK RETENTION . . . . . . . . . . . . . . S-29LEGAL MATTERS . . . . . . . . . . . . . . . . S-31EXHIBIT A . . . . . . . . . . . . . . . . . . . . . . . A- 1SCHEDULE 1 . . . . . . . . . . . . . . . . . . . . . A- 3PRINCIPAL BALANCE

SCHEDULES . . . . . . . . . . . . . . . . . . . B- 1

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AVAILABLE INFORMATION

You should purchase the certificates only if you have read and understood this prospectussupplement and the following documents (the “Disclosure Documents”):

• our Prospectus for Fannie Mae Guaranteed REMIC Pass-Through Certificates datedJune 1, 2014 (the “REMIC Prospectus”);

• our Prospectus for Fannie Mae Guaranteed Pass-Through Certificates (Single-FamilyResidential Mortgage Loans) dated

O June 1, 2016, for all MBS issued on or after June 1, 2016,

O October 1, 2014, for all MBS issued on or after October 1, 2014 and prior to June 1,2016,

O March 1, 2013, for all MBS issued on or after March 1, 2013 and prior to October 1,2014,

O February 1, 2012, for all MBS issued on or after February 1, 2012 and prior to March 1,2013,

O July 1, 2011, for all MBS issued on or after July 1, 2011 and prior to February 1, 2012,

O June 1, 2009, for all MBS issued on or after January 1, 2009 and prior to July 1, 2011,

O April 1, 2008, for all MBS issued on or after June 1, 2007 and prior to January 1,2009, or

O January 1, 2006, for all other MBS

(as applicable, the “MBS Prospectus”);

• if you are purchasing a Group 5 or Group 6 Class or the R or RL Class, the disclosuredocuments relating to the applicable underlying REMIC certificates (the “UnderlyingREMIC Disclosure Documents”); and

• any information incorporated by reference in this prospectus supplement as discussedbelow and under the heading “Incorporation by Reference” in the REMIC Prospectus.

For a description of current servicing policies generally applicable to existing Fannie MaeMBS pools, see “Yield, Maturity and Prepayment Considerations” in the MBS Prospectus datedJune 1, 2016.

The MBS Prospectus and the Underlying REMIC Disclosure Documents are incorporated byreference in this prospectus supplement. This means that we are disclosing information in thosedocuments by referring you to them. Those documents are considered part of this prospectussupplement, so you should read this prospectus supplement, and any applicable supplements oramendments, together with those documents.

You can obtain copies of the Disclosure Documents by writing or calling us at:

Fannie MaeMBS Helpline3900 Wisconsin Avenue, N.W., Area 2H-3SWashington, D.C. 20016(telephone 800-2FANNIE).

In addition, the Disclosure Documents, together with the class factors, are available on ourcorporate Web site at www.fanniemae.com.

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You also can obtain copies of the REMIC Prospectus, the MBS Prospectus and the UnderlyingREMIC Disclosure Documents by writing or calling the dealer at:

J.P. Morgan Securities LLCc/o Broadridge Financial SolutionsProspectus Department1155 Long Island AvenueEdgewood, NY 11717(telephone 631-274-2635).

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SUMMARY

This summary contains only limited information about the certificates. Statisticalinformation in this summary is provided as of March 1, 2018. You should purchase thecertificates only after reading this prospectus supplement and each of the additionaldisclosure documents listed on page S-3. In particular, please see the discussion of riskfactors that appears in each of those additional disclosure documents.

Assets Underlying Each Group of Classes

Group Assets

1 Group 1 MBS2 Group 2 MBS3 Group 3 MBS4 Group 4 MBS5 Subgroup 5a Class 2005-57-NI REMIC Certificate

Class 2007-105-SM REMIC CertificateClass 2007-117-KS REMIC CertificateClass 2008-64-HI REMIC CertificateClass 2009-110-SD REMIC CertificateClass 2012-74-SA REMIC Certificate

Subgroup 5b Class 2008-46-EI REMIC Certificate6 Subgroup 6a Class 2006-35-SI REMIC Certificate

Class 2007-72-EK REMIC CertificateClass 2008-11-SB REMIC CertificateClass 2010-117-SE REMIC CertificateClass 2010-153-SI REMIC Certificate

Subgroup 6b Class 2014-50-WS REMIC Certificate

Group 1, Group 2, Group 3 and Group 4

Characteristics of the Trust MBS

ApproximatePrincipalBalance

Pass-Through

Rate

Range of WeightedAverage Coupons

or WACs(annual percentages)

Range of WeightedAverage RemainingTerms to Maturity

or WAMs(in months)

Group 1 MBS $152,596,485 4.50% 4.75% to 7.00% 200 to 360Group 2 MBS $ 2,065,171 4.50% 4.75% to 7.00% 241 to 360

$ 47,888,993 4.50% 4.75% to 7.00% 241 to 360$ 65,470,721 4.50% 4.75% to 7.00% 241 to 360

Group 3 MBS $100,000,000 4.50% 4.75% to 7.00% 241 to 360Group 4 MBS $105,130,275 4.00% 4.25% to 6.50% 241 to 360

$ 1,131,607 4.00% 4.25% to 6.50% 241 to 360$ 9,734,294 4.00% 4.25% to 6.50% 241 to 360

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Assumed Characteristics of the Underlying Mortgage Loans

PrincipalBalance

OriginalTerm toMaturity

(in months)

RemainingTerm toMaturity

(in months)Loan Age

(in months)Interest

Rate

Group 1 MBS $152,596,485 360 256 93 4.939%Group 2 MBS $ 2,065,171 360 358 1 4.957%

$ 47,888,993 360 348 8 5.067%$ 65,470,721 360 352 7 4.936%

Group 3 MBS $100,000,000 360 358 2 4.948%Group 4 MBS $105,130,275 360 359 1 4.379%

$ 1,131,607 360 360 0 4.332%$ 9,734,294 360 360 0 4.476%

The actual remaining terms to maturity, loan ages and interest rates of most of the mortgageloans underlying the Trust MBS will differ from those shown above, and may differ significantly.See “Risk Factors—Risks Relating to Yield and Prepayment—Yields on and weighted averagelives of the certificates are affected by actual characteristics of the mortgage loans backing theseries trust assets” in the REMIC Prospectus.

Group 5 and Group 6

Exhibit A describes the underlying REMIC certificates in Group 5 and Group 6, includingcertain information about the related mortgage loans. To learn more about the underlying REMICcertificates, you should obtain from us the current class factors and the related disclosuredocuments as described on page S-3.

Settlement Date

We expect to issue the certificates on March 29, 2018.

Distribution Dates

We will make payments on the certificates on the 25th day of each calendar month, or on thenext business day if the 25th day is not a business day.

Record Date

On each distribution date, we will make each monthly payment on the certificates to holdersof record on the last day of the preceding month.

Book-Entry and Physical Certificates

We will issue the classes of certificates in the following forms:

Fed Book-Entry Physical

All classes of certificates other than the R and RL Classes R and RL Classes

Exchanging Certificates Through Combination and Recombination

If you own certificates of a class designated as “exchangeable” on the cover of this prospectussupplement, you will be able to exchange them for a proportionate interest in the related RCRcertificates. Schedule 1 lists the available combinations of the certificates eligible for exchangeand the related RCR certificates. You can exchange your certificates by notifying us and paying anexchange fee. We will deliver the RCR certificates upon such exchange.

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We will apply principal and interest payments from exchanged REMIC certificates to thecorresponding RCR certificates, on a pro rata basis, following any exchange.

Interest Rates

During each interest accrual period, the fixed rate classes will bear interest at the applicableannual interest rates listed on the cover of this prospectus supplement or on Schedule 1.

During the initial interest accrual period, the FA, SA, HF and HS Classes will bear interest atthe initial interest rates listed below. The initial interest rates listed below for the ST and SGClasses are assumed rates. During each subsequent interest accrual period, the inverse floatingrate classes will bear interest based on the formulas indicated below, but always subject to thespecified maximum and minimum interest rates:

Class

InitialInterest

Rate

MaximumInterest

Rate

MinimumInterest

Rate

Formula forCalculation of

Interest Rate(1)

FA . . . . . . . . . . . . . . . . . . . . . . . . 2.05032% 6.50% 0.30% LIBOR + 30 basis pointsSA . . . . . . . . . . . . . . . . . . . . . . . . 4.44968% 6.20% 0.00% 6.2% � LIBORHF . . . . . . . . . . . . . . . . . . . . . . . . 2.10131% 5.00% 0.39% LIBOR + 39 basis pointsHS . . . . . . . . . . . . . . . . . . . . . . . . 2.89869% 4.61% 0.00% 4.61% � LIBORST . . . . . . . . . . . . . . . . . . . . . . . . 4.42930%(2) 6.05% 0.00% 6.05% � LIBORSG . . . . . . . . . . . . . . . . . . . . . . . . 4.57930%(2) 6.20% 0.00% 6.2% � LIBOR

(1) We will establish LIBOR on the basis of the “ICE Method.”(2) Assumed initial interest rates. We will calculate the actual initial interest rates for these classes on March 22, 2018,

using the applicable formulas.

During each interest accrual period, the TI and IT Classes will bear interest at the applicableannual rates described under “Description of the Certificates—Distributions of Interest—The TIClass” and “—The IT Class,” respectively, in this prospectus supplement.

Notional Classes

The notional principal balances of the notional classes specified below will equal the percen-tages of the outstanding balance specified below immediately before the related distribution date:

Class

AI . . . . . . . . . . . . . 22.2222222222% of the Group 1 MBSSA . . . . . . . . . . . . . 100% of the FA ClassHS . . . . . . . . . . . . . 100% of the HF ClassST . . . . . . . . . . . . . 100% of the aggregate notional principal balance of

the Group 5 Underlying REMIC CertificatesTI . . . . . . . . . . . . . 100% of the aggregate notional principal balance of

the Subgroup 5a Underlying REMIC CertificatesSG . . . . . . . . . . . . . 100% of the aggregate notional principal balance of

the Group 6 Underlying REMIC CertificatesIT . . . . . . . . . . . . . 100% of the aggregate notional principal balance of

the Subgroup 6a Underlying REMIC CertificatesIA . . . . . . . . . . . . . 11.1111111111% of the Group 1 MBS

Distributions of Principal

For a description of the principal payment priorities, see “Description of the Certificates—Distributions of Principal” in this prospectus supplement.

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Weighted Average Lives (years)*

PSA Prepayment AssumptionGroup 1 Classes 0% 100% 190% 350% 500% 700%

AI, AB, A, AC and IA . . . . . . . . . . . . . . . . . . . . 19.9 8.2 5.9 3.7 2.6 1.8AG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.1 7.2 4.9 2.9 2.0 1.4AL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.5 19.5 17.1 12.1 8.8 6.1

PSA Prepayment AssumptionGroup 2 Classes 0% 100% 125% 160% 225% 500% 700%

FA and SA . . . . . . . . . . . . . . . . . . . . . . 19.9 10.6 9.4 8.2 6.5 3.3 2.5P . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.3 6.2 5.4 5.4 5.4 3.0 2.3PL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.5 17.6 17.4 17.4 17.4 8.8 6.2C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.8 21.8 18.9 12.0 2.8 0.9 0.7


HF, HS and TP . . . . . . . . . . . . . . . . . . 19.9 10.9 9.0 7.0 6.3 3.7 2.8HP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14.1 6.8 5.8 5.8 5.8 3.6 2.8PZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.0 18.9 18.9 18.9 18.9 11.2 8.1CZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.5 21.3 18.3 7.5 2.7 1.1 0.8Z . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.8 20.7 19.0 12.2 8.8 4.2 2.9


PA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.2 4.2 3.7 3.7 3.7 2.9 2.3LP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.8 12.5 11.9 11.9 11.9 8.1 5.7ZC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.0 20.5 18.7 11.2 2.8 1.5 1.1

PSA Prepayment AssumptionGroup 5 Classes 0% 100% 218% 500% 800% 1100% 1400% 1600%

ST . . . . . . . . . . . . . . . . . . . . 12.9 7.0 4.9 2.5 1.5 0.9 0.6 0.3TI . . . . . . . . . . . . . . . . . . . . 12.9 6.6 4.7 2.5 1.5 0.9 0.6 0.3

PSA Prepayment AssumptionGroup 6 Classes 0% 100% 218% 500% 800% 1100% 1400% 1600%

SG . . . . . . . . . . . . . . . . . . . 14.0 6.8 4.8 2.5 1.5 0.9 0.6 0.3IT . . . . . . . . . . . . . . . . . . . . 12.4 7.3 5.1 2.5 1.5 0.9 0.6 0.3

* Determined as specified under “Yield, Maturity and Prepayment Considerations—Weighted Average Livesand Final Distribution Dates” in the REMIC Prospectus.

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ADDITIONAL RISK FACTORS

Recent natural disasters may present a riskof increased mortgage loan defaults. In latesummer 2017, Hurricane Harvey, HurricaneIrma and Hurricane Maria resulted in cata-strophic damage to extensive areas of theSoutheastern United States, (including coastalTexas and Louisiana and coastal and inlandFlorida and Georgia), Puerto Rico and the U.S.Virgin Islands. The full extent of the physicaldamage resulting from the foregoing events,including severe flooding, high winds andenvironmental contamination, remainsuncertain. Thousands of people have beendisplaced and interruptions in the affectedregional economies have been significant.Although the long-term effects are unclear,these events could lead to a general economicdownturn in the affected regions, including joblosses and declines in real estate values.Accordingly, the rate of defaults on mortgageloans in the affected areas may increase. Anysuch increase will result in early payments ofprincipal to holders of certificates (and earlydecreases in notional principal balances ofinterest only certificates) backed by MBS withunderlying mortgage loans secured by proper-ties in the affected areas.

Uncertainty as to the determination ofLIBOR and the potential phasing out ofLIBOR after 2021 may adversely affect thevalue of certain certificates. On July 27, 2017,regulatory authorities in the United Kingdomannounced their intention to stop persuadingor compelling banks to submit LIBOR ratesafter 2021. Accordingly, it is uncertainwhether ICE will continue to quote LIBORafter 2021. Efforts to identify a set of alter-native U.S. dollar reference interest ratesinclude proposals by the Alternative ReferenceRates Committee of the Federal ReserveBoard and the Federal Reserve Bank of NewYork. At present, we are unable to predict theeffect of any alternative reference rates thatmay be established or any other reforms toLIBOR that may be adopted in the UnitedKingdom, in the U.S. or elsewhere.Uncertainty as to the nature of such potentialchanges, alternative reference rates or otherreforms may adversely affect the tradingmarket for LIBOR-based securities, includingcertificates with interest rates that adjust

based on LIBOR. Moreover, any futurereform, replacement or disappearance ofLIBOR may adversely affect the value of andreturn on the affected certificates.

The use of an alternative method or indexin place of LIBOR for determining monthlyinterest rates may adversely affect the value ofcertain certificates. As discussed in theREMIC Prospectus under “Risk Factors—Risks Relating to Yield and Prepayment—Intercontinental Exchange BenchmarkAdministration is the new LIBOR admin-istrator” and in this prospectus supplementunder “Description of the Certificates—Distributions of Interest,” we may in ourdiscretion designate an alternative method or,if appropriate, an alternative index for thedetermination of monthly interest rates on thefloating rate and inverse floating rate classesif, among other things, we determine thatcontinued reliance on the customary methodfor determining LIBOR is no longer viable. Wecan provide no assurance that any suchalternative method or index will yield thesame or similar economic results over thelives of the related classes. In addition,although our designation of any alternativemethod or index will take into account variousfactors, including then-prevailing industrypractices, there can be no assurance thatbroadly-adopted industry practices willdevelop, and it is uncertain what effect anydivergent industry practices will have on thevalue of and return on the certificates.

Payments on the Group 5 and Group 6Classes will be affected by the applicablepayment priorities governing the relatedunderlying REMIC certificates. If you invest ina Group 5 or Group 6 Class, the rate at whichyou receive payments will be affected by theapplicable priority sequences governingnotional principal balance reductions on therelated underlying REMIC certificates.

In particular, as described in the relatedUnderlying REMIC Disclosure Document,notional principal balance reductions on theClass 2006-35-SI REMIC Certificate in Group 6are governed by a principal balance schedule. Asa result, that underlying certificate may receivenotional principal balance reductions faster or

S-9

slower than would otherwise have been the case.Prepayments on the related mortgage loans mayhave occurred at a rate faster or slower than therate initially assumed. In certain high prepay-ment scenarios, it is possible that the effect of aprincipal balance schedule on notional principalbalance reductions over time may be eliminated.In such a case, the Class 2006-35-SI REMICCertificate may receive notional principalbalance reductions at rates that vary widelyfrom period to period. This prospectus supple-ment contains no information as to whether

• the Class 2006-35-SI REMIC Certifi-cate has adhered to the relatedprincipal balance schedule,

• any related support classes remainoutstanding, or

• the Class 2006-35-SI REMIC Certifi-cate otherwise has performed asoriginally anticipated.

You may obtain additional informationabout the underlying REMIC certificates byreviewing their current class factors in lightof other information available in the relatedUnderlying REMIC Disclosure Documents.You may obtain those documents from us asdescribed on page S-3.

DESCRIPTION OF THE CERTIFICATES

The material under this heading describes the principal features of the Certificates. You will findadditional information about the Certificates in the other sections of this prospectus supplement, aswell as in the additional Disclosure Documents and the Trust Agreement. If we use a capitalized termin this prospectus supplement without defining it, you will find the definition of that term in theapplicable Disclosure Document or in the Trust Agreement.

General

Structure. We will create the Fannie Mae REMIC Trust specified on the cover of this prospectussupplement (the “Trust”) pursuant to a trust agreement dated as of May 1, 2010 and a supplementthereto dated as of March 1, 2018 (the “Issue Date”). We will issue the Guaranteed REMIC Pass-Through Certificates (the “REMIC Certificates”) pursuant to that trust agreement and supplement.We will issue the Combinable and Recombinable REMIC Certificates (the “RCR Certificates” and,together with the REMIC Certificates, the “Certificates”) pursuant to a separate trust agreementdated as of May 1, 2010 and a supplement thereto dated as of the Issue Date (together with the trustagreement and supplement relating to the REMIC Certificates, the “Trust Agreement”). We willexecute the Trust Agreement in our corporate capacity and as trustee (the “Trustee”). In general, theterm “Classes” includes the Classes of REMIC Certificates and RCR Certificates.

The assets of the Trust will include:

• four groups of Fannie Mae Guaranteed Mortgage Pass-Through Certificates (the “Group 1MBS,” “Group 2 MBS,” “Group 3 MBS” and “Group 4 MBS,” and together, the “TrustMBS”), and

• two groups of previously issued REMIC Certificates (the “Group 5 Underlying REMICCertificates” and “Group 6 Underlying REMIC Certificates,” and together, the “UnderlyingREMIC Certificates”) issued from the related Fannie Mae REMIC trusts (the “UnderlyingREMIC Trusts”), as further described in Exhibit A.

The Underlying REMIC Certificates evidence direct or indirect beneficial ownership interestsin certain Fannie Mae Guaranteed Mortgage Pass-Through Certificates (together with the TrustMBS, the “MBS”).

Each MBS represents a beneficial ownership interest in a pool of first lien, one- to four-family(“single-family”), fixed-rate residential mortgage loans (the “Mortgage Loans”) having the charac-teristics described in this prospectus supplement.

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The Trust will include the “Lower Tier REMIC” and “Upper Tier REMIC” as “real estatemortgage investment conduits” (each, a “REMIC”) under the Internal Revenue Code of 1986, asamended (the “Code”).

The following chart contains information about the assets, the “regular interests” and the“residual interests” of each REMIC. The REMIC Certificates other than the R and RL Classes arecollectively referred to as the “Regular Classes” or “Regular Certificates,” and the R andRL Classes are collectively referred to as the “Residual Classes” or “Residual Certificates.”

REMIC Designation AssetsRegularInterests

ResidualInterest

Lower Tier REMIC . . . . . . . Trust MBS and UnderlyingREMIC Certificates

Interests in the Lower TierREMIC other than theRL Class (the “Lower TierRegular Interests”)

RL

Upper Tier REMIC . . . . . . . Lower Tier Regular Interests All Classes of REMICCertificates other than theR and RL Classes

R

Fannie Mae Guaranty. For a description of our guaranties of the Certificates, the MBS andthe Underlying REMIC Certificates, see the applicable discussions appearing under the heading“Fannie Mae Guaranty” in the REMIC Prospectus, the MBS Prospectus and the UnderlyingREMIC Disclosure Documents. Our guaranties are not backed by the full faith and credit of theUnited States.

Characteristics of Certificates. Except as specified below, we will issue the Certificates inbook-entry form on the book-entry system of the U.S. Federal Reserve Banks. Entities whosenames appear on the book-entry records of a Federal Reserve Bank as having had Certificatesdeposited in their accounts are “Holders” or “Certificateholders.”

We will issue the Residual Certificates in fully registered, certificated form. The “Holder” or“Certificateholder” of a Residual Certificate is its registered owner. A Residual Certificate can betransferred at the corporate trust office of the Transfer Agent, or at the office of the TransferAgent in New York, New York. U.S. Bank National Association in Boston, Massachusetts will bethe initial Transfer Agent. We may impose a service charge for any registration of transfer of theResidual Certificates and may require payment to cover any tax or other governmental charge.See also “—Characteristics of the Residual Classes” below.

Authorized Denominations. We will issue the Certificates in the following denominations:

Classes Denominations

Interest Only and Inverse FloatingRate Classes

$100,000 minimum plus whole dollar increments

All other Classes (except the R andRL Classes)

$1,000 minimum plus whole dollar increments

The Trust MBS

The Trust MBS provide that principal and interest on the related Mortgage Loans are passedthrough monthly. Except as described below, the Mortgage Loans underlying the Trust MBS areconventional, fixed-rate, fully-amortizing mortgage loans secured by first mortgages or deeds oftrust on single-family residential properties. These Mortgage Loans have original maturities of upto 30 years.

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For additional information, see “Summary—Group 1, Group 2, Group 3 and Group 4—Characteristics of the Trust MBS” in this prospectus supplement and “The Mortgage Loan Pools”and “Yield, Maturity and Prepayment Considerations” in the MBS Prospectus.

The Underlying REMIC Certificates

The Underlying REMIC Certificates represent beneficial ownership interests in the relatedUnderlying REMIC Trusts. The assets of those trusts consist of MBS (or beneficial ownershipinterests in MBS) having the general characteristics set forth in the MBS Prospectus. Each MBSevidences beneficial ownership interests in a pool of conventional, fixed-rate, fully-amortizingmortgage loans secured by first mortgages or deeds of trust on single-family residential proper-ties, as described under “The Mortgage Loan Pools” and “Yield, Maturity and PrepaymentConsiderations” in the MBS Prospectus.

Distributions on the Underlying REMIC Certificates will be passed through monthly, begin-ning in the month after we issue the Certificates. The general characteristics of the UnderlyingREMIC Certificates are described in the related Underlying REMIC Disclosure Documents. SeeExhibit A for certain additional information about the Underlying REMIC Certificates. Exhibit Ais provided in lieu of a Final Data Statement with respect to the Underlying REMIC Certificates.

For further information about the Underlying REMIC Certificates, telephone us at800-2FANNIE. Additional information about the Underlying REMIC Certificates is also availableat https://mbsdisclosure.fanniemae.com/PoolTalk2/index.html. There may have been materialchanges in facts and circumstances since the dates we prepared the Underlying REMICDisclosure Documents. These may include changes in prepayment speeds, prevailing interestrates and other economic factors. As a result, the usefulness of the information set forth in thosedocuments may be limited.

Distributions of Interest

General. The Certificates will bear interest at the rates specified in this prospectus supple-ment. Interest to be paid on each Certificate (or added to principal, in the case of the AccrualClasses) on a Distribution Date will consist of one month’s interest on the outstanding balance ofthat Certificate immediately prior to that Distribution Date. For a description of the AccrualClasses, see “—Accrual Classes” below.

The Floating Rate and Inverse Floating Rate Classes will bear interest at interest rates basedon LIBOR. We currently establish LIBOR on the basis of the “ICE Method” as generally describedunder “Description of the Certificates—Distributions on Certificates—Interest Distributions—Indices for Floating Rate Classes and Inverse Floating Rate Classes” in the REMIC Prospectus.For a description of recent developments affecting LIBOR calculations, see “Risk Factors—RisksRelating to Yield and Prepayment—Intercontinental Exchange Benchmark Administration is thenew LIBOR administrator” in the REMIC Prospectus and “Additional Risk Factors—Uncertaintyas to the determination of LIBOR and the potential phasing out of LIBOR after 2021 mayadversely affect the value of certain certificates” in this prospectus supplement. If we determinethat the methods for establishing LIBOR are no longer viable or that prevailing industry practiceswith respect to benchmark rates have transitioned, or are very likely to transition, away from theuse of LIBOR, we may in our discretion designate an alternative method or, if appropriate, analternative index for the determination of monthly interest rates on the Floating Rate and InverseFloating Rate Classes. In making any such designation, we will take into account generalcomparability and other factors, including then-prevailing industry practices. Further, we mayapply an adjustment factor to any designated alternative index as deemed appropriate to betterachieve comparability to the current index and otherwise in keeping with industry-acceptedpractices. See “Additional Risk Factors—The use of an alternative method or index in place ofLIBOR for determining monthly interest rates may adversely affect the value of certain certificates”in this prospectus supplement.

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Delay Classes and No-Delay Classes. The “Delay” Classes and “No-Delay” Classes are setforth in the following table:

Delay Classes No-Delay Classes

Fixed Rate Classes Floating Rate and Inverse Floating RateClasses and the TI and IT Classes

See “Description of the Certificates—Distributions on Certificates—Interest Distributions” in theREMIC Prospectus.

Accrual Classes. The PZ, CZ, ZC and Z Classes are Accrual Classes. Interest will accrue oneach Accrual Class at the applicable annual rate specified on the cover of this prospectus supple-ment or on Schedule 1. However, we will not pay any interest on the Accrual Classes. Instead,interest accrued on each Accrual Class will be added as principal to its principal balance on eachDistribution Date. We will pay principal on the Accrual Classes as described under“—Distributions of Principal” below.

The TI Class.

On each Distribution Date, we will pay interest on the TI Class at an annual rate equal to theproduct of

• a fraction, expressed as a percentage, the numerator of which is the excess, if any, of

O the aggregate amount of interest then paid on the Group 5 Underlying REMIC Certificates

over

O the interest payable on the ST Class on that Distribution Date,

and the denominator of which is the notional principal balance of the TI Class immediatelypreceding that Distribution Date,

multiplied by

• 12.

For the initial interest accrual period, we have assumed that interest on the TI Class willaccrue at an annual rate of approximately 0.292%. However, we will determine the actual interestrate for the TI Class for the initial interest accrual period on March 22, 2018.

Our determination of the interest rate for the TI Class for each Distribution Date will be finaland binding in the absence of manifest error. You may obtain each such interest rate by tele-phoning us at 800-2FANNIE.

The IT Class.

On each Distribution Date, we will pay interest on the IT Class at an annual rate equal to theproduct of

• a fraction, expressed as a percentage, the numerator of which is the excess, if any, of

O the aggregate amount of interest then paid on the Group 6 Underlying REMICCertificates

over

O the interest payable on the SG Class on that Distribution Date,

and the denominator of which is the notional principal balance of the IT Class immediatelypreceding that Distribution Date,

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multiplied by

• 12.

For the initial interest accrual period, we have assumed that interest on the IT Class willaccrue at an annual rate of approximately 0.311%. However, we will determine the actual interestrate for the IT Class for the initial interest accrual period on March 22, 2018.

Our determination of the interest rate for the IT Class for each Distribution Date will be finaland binding in the absence of manifest error. You may obtain each such interest rate by tele-phoning us at 800-2FANNIE.

Distributions of Principal

On the Distribution Date in each month, we will make payments of principal on the Classes ofREMIC Certificates as described below. Following any exchange of REMIC Certificates for RCRCertificates, we will apply principal payments from the exchanged REMIC Certificates to thecorresponding RCR Certificates on a pro rata basis.

• Group 1

⎫⎬⎭The Group 1 Principal Distribution Amount to AG and AL, in that order, until

retired.SequentialPay Classes

The “Group 1 Principal Distribution Amount” is the principal then paid on the Group 1 MBS.

• Group 2

The Group 2 Principal Distribution Amount as follows:

⎫⎬⎭— 33.3333327558% to FA until retired, and Pass-ThroughClass

— 66.6666672442% as follows:

⎫⎬⎭first, to Aggregate Group I to its Planned Balance; PAC Group

⎫⎬⎭second, to C until retired; and Support Class

⎫⎬⎭third, to Aggregate Group I to zero. PAC Group

The “Group 2 Principal Distribution Amount” is the principal then paid on the Group 2 MBS.

“Aggregate Group I” consists of the P and PL Classes. On each Distribution Date, we willapply payments of principal of Aggregate Group I to P and PL, in that order, until retired.

Aggregate Group I has a principal balance equal to the aggregate principal balance of theClasses included in Aggregate Group I.

• Group 3

⎫⎬⎭The PZ Accrual Amount to HP, until retired, and thereafter to PZ.

AccretionDirectedClass andAccrual Class

⎫⎬⎭The CZ Accrual Amount to Aggregate Group II to its Planned Balance, and

thereafter to CZ.

AccretionDirected/ PACGroup andAccrual Class

The Group 3 Cash Flow Distribution Amount as follows:

⎫⎬⎭— 50% to HF until retired, and Pass-ThroughClass

— 50% as follows:

⎫⎬⎭first, to Aggregate Group II to its Planned Balance; PAC Group

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⎫⎬⎭second, to CZ until retired; and Support Class

⎫⎬⎭third, to Aggregate Group II to zero. PAC Group

The “PZ Accrual Amount” is any interest then accrued and added to the principal balance ofthe PZ Class.

The “CZ Accrual Amount” is any interest then accrued and added to the principal balance ofthe CZ Class.

The “Group 3 Cash Flow Distribution Amount” is the principal then paid on the Group 3 MBS.

“Aggregate Group II” consists of the HP and PZ Classes. On each Distribution Date, we willapply payments of principal of Aggregate Group II to HP and PZ, in that order, until retired.

Aggregate Group II has a principal balance equal to the aggregate principal balance of theClasses included in Aggregate Group II.

• Group 4

⎫⎬⎭The ZC Accrual Amount to Aggregate Group III to its Planned Balance, and

thereafter to ZC.

AccretionDirected/PACGroup andAccrual Class

The Group 4 Cash Flow Distribution Amount in the following priority:

⎫⎬⎭1. To Aggregate Group III to its Planned Balance. PAC Group

⎫⎬⎭2. To ZC until retired. Support Class

⎫⎬⎭3. To Aggregate Group III to zero. PAC Group

The “ZC Accrual Amount” is any interest then accrued and added to the principal balance ofthe ZC Class.

The “Group 4 Cash Flow Distribution Amount” is the principal then paid on the Group 4 MBS.

“Aggregate Group III” consists of the PA and LP Classes. On each Distribution Date, we willapply payments of principal of Aggregate Group III to PA and LP, in that order, until retired.

Aggregate Group III has a principal balance equal to the aggregate principal balance of theClasses included in Aggregate Group III.

Structuring Assumptions

Pricing Assumptions. Except where otherwise noted, the information in the tables in thisprospectus supplement has been prepared based on the actual characteristics of each pool ofMortgage Loans backing the Underlying REMIC Certificates, the applicable priority sequencesgoverning notional principal balance reductions on the Underlying REMIC Certificates, and thefollowing assumptions (such characteristics and assumptions, collectively, the “PricingAssumptions”):

• the Mortgage Loans underlying the Trust MBS have the original terms to maturity,remaining terms to maturity, loan ages and interest rates specified under “Summary—Group 1, Group 2, Group 3 and Group 4—Assumed Characteristics of the UnderlyingMortgage Loans” in this prospectus supplement;

• the Mortgage Loans prepay at the constant percentages of PSA specified in the related tables;

• the settlement date for the Certificates is March 29, 2018; and

• each Distribution Date occurs on the 25th day of a month.

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The actual remaining terms to maturity, loan ages and interest rates of most of the mortgageloans underlying the Trust MBS will differ from the assumed characteristics shown in theSummary, and may differ significantly. See “Risk Factors—Risks Relating to Yield and Prepay-ment—Yields on and weighted average lives of the certificates are affected by actual characteristicsof the mortgage loans backing the series trust assets” in the REMIC Prospectus.

Prepayment Assumptions. The prepayment model used in this prospectus supplement isPSA. For a description of PSA, see “Yield, Maturity and Prepayment Considerations—PrepaymentModels” in the REMIC Prospectus. It is highly unlikely that prepayments will occur at anyconstant PSA rate or at any other constant rate.

Principal Balance Schedules. The Principal Balance Schedules are set forth beginning onpage B-1 of this prospectus supplement. The Principal Balance Schedules were prepared based onthe Pricing Assumptions and the assumption that the related Mortgage Loans prepay at aconstant rate within the applicable “Structuring Ranges” specified in the chart below. The“Effective Range” for an Aggregate Group is the range of prepayment rates (measured by constantPSA rates) that would reduce that Aggregate Group to its scheduled balance each month based onthe Pricing Assumptions. We have not provided separate schedules for the individual Classesincluded in the Aggregate Groups. However, those Classes are designed to receive principaldistributions in the same fashion as if separate schedules had been provided (with schedulesbased on the same underlying assumptions that apply to the related Aggregate Group schedule).If such separate schedules had been provided for the individual Classes included in the AggregateGroups, we expect that the effective ranges for those Classes would not be narrower than thoseshown below for the related Aggregate Groups.

Groups Structuring Ranges Initial Effective Ranges

Aggregate Group I Planned Balances Between 125% and 225% PSA Between 125% and 225% PSAAggregate Group II Planned Balances Between 145% and 250% PSA Between 145% and 250% PSAAggregate Group III Planned Balances Between 130% and 250% PSA Between 130% and 250% PSA

The Aggregate Groups listed above consist of the following Classes:

Aggregate Group I . . . . . . . . . . . . . . . . . . . P and PLAggregate Group II . . . . . . . . . . . . . . . . . . HP and PZAggregate Group III . . . . . . . . . . . . . . . . . . PA and LP

See “—Decrement Tables” below for the percentages of original principal balances of theindividual Classes included in the Aggregate Groups that would be outstanding at variousconstant PSA rates, including the upper and lower bands of the applicable Structuring Ranges,based on the Pricing Assumptions.

We cannot assure you that the balance of any Aggregate Group will conform on anyDistribution Date to the balance specified in the Principal Balance Schedules or thatdistributions of principal of any Aggregate Group will begin or end on the DistributionDates specified in the Principal Balance Schedules.

If you are considering the purchase of a PAC Class, you should first take into account theconsiderations set forth below.

• We will distribute any excess of principal distributions over the amount necessary to reducean Aggregate Group to its scheduled balance in any month. As a result, the likelihood ofreducing an Aggregate Group to its scheduled balance each month will not be improved bythe averaging of high and low principal distributions from month to month.

• Even if the related Mortgage Loans prepay at rates falling within the applicableStructuring Range or Effective Range, principal distributions may be insufficient to reduce

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the Aggregate Groups to their scheduled balances each month if prepayments do not occurat a constant PSA rate.

• The actual Effective Ranges at any time will be based upon the actual characteristics of therelated Mortgage Loans at that time, which are likely to vary (and may vary considerably)from the Pricing Assumptions. As a result, the actual Effective Ranges will likely differfrom the Initial Effective Ranges specified above. For the same reason, the AggregateGroups might not be reduced to their scheduled balances each month even if the relatedMortgage Loans prepay at a constant PSA rate within the applicable Initial EffectiveRanges. This is so particularly if the rates fall at the lower or higher end of the applicableranges.

• The actual Effective Ranges may narrow, widen or shift upward or downward to reflectactual prepayment experience over time.

• The principal payment stability of each Aggregate Group will be supported by one otherClass. When the related supporting Class is retired, the Aggregate Group receiving thebenefit of that support, if still outstanding, may no longer have an Effective Range, and willbe much more sensitive to prepayments of the related Mortgage Loans.

Yield Tables and Additional Yield Considerations

General. The tables below illustrate the sensitivity of the pre-tax corporate bond equivalentyields to maturity of the applicable Classes to various constant percentages of PSA and, wherespecified, to changes in the Index. The tables below are provided for illustrative purposesonly and are not intended as a forecast or prediction of the actual yields on the appli-cable Classes. We calculated the yields set forth in the tables by

• determining the monthly discount rates that, when applied to the assumed streams ofcash flows to be paid on the applicable Classes, would cause the discounted presentvalues of the assumed streams of cash flows to equal the assumed aggregate purchaseprices of those Classes, and

• converting the monthly rates to corporate bond equivalent rates.

These calculations do not take into account variations in the interest rates at which you couldreinvest distributions on the Certificates. Accordingly, these calculations do not illustrate thereturn on any investment in the Certificates when reinvestment rates are taken into account.

We cannot assure you that

• the pre-tax yields on the applicable Certificates will correspond to any of the pre-taxyields shown here, or

• the aggregate purchase prices of the applicable Certificates will be as assumed.

In addition, it is unlikely that the Index will correspond to the levels shown here.Furthermore, because some of the Mortgage Loans are likely to have remaining terms to maturityshorter or longer than those assumed and interest rates higher or lower than those assumed, theprincipal payments (or notional principal balance reductions) on the Certificates are likely todiffer from those assumed. This would be the case even if all Mortgage Loans prepay at theindicated constant percentages of PSA. Moreover, it is unlikely that

• the Mortgage Loans will prepay at a constant PSA rate until maturity,

• all of the Mortgage Loans will prepay at the same rate, or

• the level of the Index will remain constant.

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The Fixed Rate Interest Only Classes. The yields to investors in the Fixed RateInterest Only Classes will be very sensitive to the rate of principal payments (includingprepayments) of the related Mortgage Loans. The Mortgage Loans generally can beprepaid at any time without penalty. On the basis of the assumptions described below,the yield to maturity on each Fixed Rate Interest Only Class would be 0% if prepay-ments of the related Mortgage Loans were to occur at the following constant rates:

Class % PSA

AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235%IA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235%

For either Fixed Rate Interest Only Class, if the actual prepayment rate of the relatedMortgage Loans were to exceed the level specified for as little as one month whileequaling that level for the remaining months, the investors in the applicable Classwould lose money on their initial investments.

The information shown in the following yield tables has been prepared on the basis of thePricing Assumptions and the assumption that the aggregate purchase prices of the Fixed RateInterest Only Classes (expressed in each case as a percentage of the original principal balance) areas follows:

Class Price*

AI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.656%IA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.656%

* The prices do not include accrued interest. Accrued interest has been addedto the prices in calculating the yields set forth in the tables below.

Sensitivity of the AI Class to Prepayments

PSA Prepayment Assumption50% 100% 190% 350% 500% 700%

Pre-Tax Yields to Maturity . . . . . . 12.3% 9.1% 3.1% (8.1)% (19.1)% (35.1)%

Sensitivity of the IA Class to Prepayments

PSA Prepayment Assumption50% 100% 190% 350% 500% 700%

Pre-Tax Yields to Maturity . . . . . . 12.3% 9.1% 3.1% (8.1)% (19.1)% (35.1)%

The Inverse Floating Rate Classes. The yields on the Inverse Floating Rate Classeswill be sensitive in varying degrees to the rate of principal payments (includingprepayments) of the related Mortgage Loans and to the level of the Index. The Mort-gage Loans generally can be prepaid at any time without penalty. In addition, the rateof principal payments (including prepayments) of the related Mortgage Loans is likelyto vary, and may vary considerably, from pool to pool. As illustrated in the applicabletables below, it is possible that investors in the Inverse Floating Rate Classes wouldlose money on their initial investments under certain Index and prepayment scenarios.

Changes in the Index may not correspond to changes in prevailing mortgage interest rates. Itis possible that lower prevailing mortgage interest rates, which might be expected to result infaster prepayments, could occur while the level of the Index increased.

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The information shown in the following yield tables has been prepared on the basis of thePricing Assumptions and the assumptions that

• the interest rates for the Inverse Floating Rate Classes for the initial Interest AccrualPeriod are the rates listed in the table under “Summary—Interest Rates” in thisprospectus supplement and for each following Interest Accrual Period will be based onthe specified levels of the Index, and

• the aggregate purchase prices of those Classes (expressed in each case as a percentage oforiginal principal balance) are as follows:

Class Price*

SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.59375%HS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.25000%ST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.15625%SG . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.25000%

* The prices do not include accrued interest. Accrued interest has been addedto the prices in calculating the yields set forth in the tables below.

In the following yield tables, the symbol * is used to represent a yield of less than (99.9)%.

Sensitivity of the SA Class to Prepayments and LIBOR(Pre-Tax Yields to Maturity)

PSA Prepayment AssumptionLIBOR 50% 100% 125% 160% 225% 500% 700%

0.87516% . . . . . . . . . . . . . . 23.6% 20.7% 19.3% 17.3% 13.5% (3.4)% (16.6)%1.75032% . . . . . . . . . . . . . . 18.6% 15.7% 14.3% 12.2% 8.4% (8.6)% (21.9)%3.75032% . . . . . . . . . . . . . . 6.8% 4.0% 2.5% 0.4% (3.4)% (20.7)% (34.4)%5.75032% . . . . . . . . . . . . . . (9.5)% (12.3)% (13.7)% (15.7)% (19.5)% (36.6)% (50.6)%6.20000% . . . . . . . . . . . . . . * * * * * * *

Sensitivity of the HS Class to Prepayments and LIBOR(Pre-Tax Yields to Maturity)

PSA Prepayment AssumptionLIBOR 50% 100% 145% 218% 250% 500% 700%

0.85565% . . . . . . . . . . . . . . 45.2% 42.8% 40.7% 37.1% 35.6% 23.1% 12.9%1.71131% . . . . . . . . . . . . . . 33.2% 30.8% 28.5% 24.8% 23.2% 10.2% (0.6)%3.71131% . . . . . . . . . . . . . . 5.3% 2.5% 0.0% (4.1)% (5.9)% (20.8)% (33.6)%4.61000% . . . . . . . . . . . . . . * * * * * * *

Sensitivity of the ST Class to Prepayments and LIBOR(Pre-Tax Yields to Maturity)

PSA Prepayment AssumptionLIBOR 50% 100% 218% 500% 800% 1100% 1400% 1600%

0.81035% . . . . . . . . . . . . . . 34.0% 30.4% 21.8% (0.3)% (27.1)% (59.3)% * *1.62070% . . . . . . . . . . . . . . 26.9% 23.4% 15.1% (6.5)% (32.6)% (63.9)% * *3.62070% . . . . . . . . . . . . . . 8.8% 5.6% (2.1)% (22.1)% (46.3)% (75.7)% * *5.62070% . . . . . . . . . . . . . . (16.3)% (19.2)% (26.1)% (43.8)% (65.4)% (93.7)% * *6.05000% . . . . . . . . . . . . . . * * * * * * * *

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Sensitivity of the SG Class to Prepayments and LIBOR(Pre-Tax Yields to Maturity)

PSA Prepayment AssumptionLIBOR 50% 100% 218% 500% 800% 1100% 1400% 1600%

0.81035% . . . . . . . . . . . . . . 34.4% 30.8% 22.2% 0.1% (26.8)% (59.0)% * *1.62070% . . . . . . . . . . . . . . 27.3% 23.9% 15.5% (6.1)% (32.2)% (63.6)% * *3.62070% . . . . . . . . . . . . . . 9.4% 6.2% (1.5)% (21.6)% (45.8)% (75.1)% * *5.62070% . . . . . . . . . . . . . . (14.3)% (17.2)% (24.1)% (42.0)% (63.8)% (91.7)% * *6.20000% . . . . . . . . . . . . . . * * * * * * * *

The TI and IT Classes. The yields on the TI and IT Classes will be very sensitive tothe rate of principal payments (including prepayments) on the related Mortgage Loans,and to the amount of interest payable on the related Underlying REMIC Certificates.The Mortgage Loans generally can be prepaid at any time without penalty. In addition,the rate of principal payments (including prepayments) of the related Mortgage Loansis likely to vary, and may vary considerably, from pool to pool. Under certain highprepayment scenarios, in particular, it is possible that investors in the TI andIT Classes would lose money on their initial investments.

Weighted Average Lives of the Certificates

For a description of how the weighted average life of a Certificate is determined, see “Yield,Maturity and Prepayment Considerations—Weighted Average Lives and Final DistributionDates” in the REMIC Prospectus.

In general, the weighted average lives of the Certificates will be shortened if the level ofprepayments of principal of the related Mortgage Loans increases. However, the weighted averagelives will depend upon a variety of other factors, including

• the timing of changes in the rate of principal distributions,

• the priority sequences of distributions of principal of the Group 1, Group 2, Group 3and Group 4 Classes, and

• in the case of the Group 5 and Group 6 Classes, the applicable priority sequencesgoverning notional principal balance reductions on the related Underlying REMICCertificates.

See “—Distributions of Principal” above and “Description of the Certificates—Distributions ofPrincipal” in the Underlying REMIC Disclosure Documents.

The effect of these factors may differ as to various Classes and the effects on any Class mayvary at different times during the life of that Class. Accordingly, we can give no assurance as tothe weighted average life of any Class. Further, to the extent the prices of the Certificates repre-sent discounts or premiums to their original principal balances, variability in the weightedaverage lives of those Classes of Certificates could result in variability in the related yields tomaturity. For an example of how the weighted average lives of the Classes may be affected atvarious constant prepayment rates, see the Decrement Tables below.

Decrement Tables

The following tables indicate the percentages of original principal balances of the specifiedClasses that would be outstanding after each date shown at various constant PSA rates, and thecorresponding weighted average lives of those Classes. The tables have been prepared on the basisof the Pricing Assumptions.

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In the case of the information set forth for each Class under 0% PSA, however, we assumedthat the Mortgage Loans have the original and remaining terms to maturity and bear interest atthe annual rates specified in the table below.

Mortgage Loans BackingTrust Assets Specified Below

OriginalTerms toMaturity

RemainingTerms toMaturity

InterestRates

Group 1 MBS 360 months 360 months 7.00%Group 2 MBS 360 months 360 months 7.00%Group 3 MBS 360 months 360 months 7.00%Group 4 MBS 360 months 360 months 6.50%Group 5 Underlying REMIC Certificates 360 months (1) 9.00%Group 6 Underlying REMIC Certificates 360 months (2) 8.50%

(1) The Mortgage Loans backing the Group 5 Underlying REMIC Certificates specified below are assumed tohave the following remaining terms to maturity:

ClassRemaining Terms

to Maturity

2005-57-NI 207 months2007-105-SM 235 months2007-117-KS 237 months2008-64-HI 244 months2009-110-SD 261 months2012-74-SA 287 months2008-46-EI 242 months

(2) The Mortgage Loans backing the Group 6 Underlying REMIC Certificates specified below are assumed tohave the following remaining terms to maturity:

ClassRemaining Terms

to Maturity

2006-35-SI 217 months2007-72-EK 231 months2008-11-SB 239 months2010-117-SE 270 months2010-153-SI 273 months2014-50-WS 316 months

It is unlikely that all of the Mortgage Loans will have the loan ages, interest rates or remainingterms to maturity assumed, or that the Mortgage Loans will prepay at any constant PSA level.

In addition, the diverse remaining terms to maturity of the Mortgage Loans could produceslower or faster principal distributions than indicated in the tables at the specified constant PSArates, even if the weighted average remaining term to maturity and the weighted average loanage of the Mortgage Loans are identical to the weighted averages specified in the Pricing Assump-tions. This is the case because pools of loans with identical weighted averages are nonethelesslikely to reflect differing dispersions of the related characteristics.

S-21

Percent of Original Principal Balances Outstanding

AI†, AB, A, AC and IA† Classes AG Class AL Class

PSA PrepaymentAssumption



Date 0% 100% 190% 350% 500% 700% 0% 100% 190% 350% 500% 700% 0% 100% 190% 350% 500% 700%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 99 91 86 77 68 56 99 91 85 75 65 53 100 100 100 100 100 100March 2020 . . . . . . . . . . 98 83 74 59 46 32 98 82 72 55 41 26 100 100 100 100 100 100March 2021 . . . . . . . . . . 97 76 64 45 31 18 96 74 60 40 25 10 100 100 100 100 100 100March 2022 . . . . . . . . . . 95 69 54 34 21 10 95 66 50 28 14 2 100 100 100 100 100 100March 2023 . . . . . . . . . . 94 62 46 26 14 6 94 59 42 20 7 0 100 100 100 100 100 68March 2024 . . . . . . . . . . 93 56 39 20 10 3 92 52 34 13 1 0 100 100 100 100 100 38March 2025 . . . . . . . . . . 91 50 33 15 6 2 90 46 27 7 0 0 100 100 100 100 78 21March 2026 . . . . . . . . . . 89 45 28 11 4 1 89 40 22 3 0 0 100 100 100 100 52 11March 2027 . . . . . . . . . . 88 40 24 8 3 1 87 35 17 * 0 0 100 100 100 100 34 6March 2028 . . . . . . . . . . 86 35 20 6 2 * 85 30 12 0 0 0 100 100 100 75 22 3March 2029 . . . . . . . . . . 84 31 16 5 1 * 82 25 9 0 0 0 100 100 100 56 15 2March 2030 . . . . . . . . . . 82 27 13 3 1 * 80 20 5 0 0 0 100 100 100 41 9 1March 2031 . . . . . . . . . . 79 23 11 2 1 * 77 16 3 0 0 0 100 100 100 29 6 1March 2032 . . . . . . . . . . 77 20 9 2 * * 75 12 * 0 0 0 100 100 100 21 4 *March 2033 . . . . . . . . . . 74 16 7 1 * * 72 9 0 0 0 0 100 100 81 15 2 *March 2034 . . . . . . . . . . 71 13 5 1 * * 69 5 0 0 0 0 100 100 62 10 1 *March 2035 . . . . . . . . . . 68 10 4 1 * * 65 2 0 0 0 0 100 100 46 7 1 *March 2036 . . . . . . . . . . 65 8 3 * * * 62 0 0 0 0 0 100 93 32 4 * *March 2037 . . . . . . . . . . 61 5 2 * * * 58 0 0 0 0 0 100 62 20 2 * *March 2038 . . . . . . . . . . 57 3 1 * * * 53 0 0 0 0 0 100 34 11 1 * *March 2039 . . . . . . . . . . 53 1 * * * * 49 0 0 0 0 0 100 8 2 * * *March 2040 . . . . . . . . . . 49 0 0 0 0 0 44 0 0 0 0 0 100 0 0 0 0 0March 2041 . . . . . . . . . . 44 0 0 0 0 0 39 0 0 0 0 0 100 0 0 0 0 0March 2042 . . . . . . . . . . 39 0 0 0 0 0 34 0 0 0 0 0 100 0 0 0 0 0March 2043 . . . . . . . . . . 34 0 0 0 0 0 28 0 0 0 0 0 100 0 0 0 0 0March 2044 . . . . . . . . . . 28 0 0 0 0 0 21 0 0 0 0 0 100 0 0 0 0 0March 2045 . . . . . . . . . . 22 0 0 0 0 0 14 0 0 0 0 0 100 0 0 0 0 0March 2046 . . . . . . . . . . 15 0 0 0 0 0 7 0 0 0 0 0 100 0 0 0 0 0March 2047 . . . . . . . . . . 8 0 0 0 0 0 0 0 0 0 0 0 93 0 0 0 0 0March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 19.9 8.2 5.9 3.7 2.6 1.8 19.1 7.2 4.9 2.9 2.0 1.4 29.5 19.5 17.1 12.1 8.8 6.1

FA and SA† Classes P Class PL Class




Date 0% 100% 125% 160% 225% 500% 700% 0% 100% 125% 160% 225% 500% 700% 0% 100% 125% 160% 225% 500% 700%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 99 96 95 94 92 85 79 99 94 93 93 93 93 93 100 100 100 100 100 100 100March 2020 . . . . . . . . . . 98 89 87 85 80 62 50 97 84 82 82 82 72 54 100 100 100 100 100 100 100March 2021 . . . . . . . . . . 97 82 79 75 68 43 28 95 74 70 70 70 44 23 100 100 100 100 100 100 100March 2022 . . . . . . . . . . 95 76 72 67 58 29 16 93 65 59 59 59 24 5 100 100 100 100 100 100 100March 2023 . . . . . . . . . . 94 70 65 59 49 20 9 91 56 50 50 50 11 0 100 100 100 100 100 100 72March 2024 . . . . . . . . . . 93 64 59 52 42 14 5 89 48 41 41 41 2 0 100 100 100 100 100 100 41March 2025 . . . . . . . . . . 91 59 53 46 35 9 3 87 40 32 32 32 0 0 100 100 100 100 100 74 23March 2026 . . . . . . . . . . 89 54 48 41 30 6 2 85 33 25 25 25 0 0 100 100 100 100 100 50 13March 2027 . . . . . . . . . . 88 50 43 36 25 4 1 82 27 18 18 18 0 0 100 100 100 100 100 34 7March 2028 . . . . . . . . . . 86 45 39 31 21 3 1 79 20 12 12 12 0 0 100 100 100 100 100 23 4March 2029 . . . . . . . . . . 84 41 35 28 17 2 * 76 14 7 7 7 0 0 100 100 100 100 100 16 2March 2030 . . . . . . . . . . 82 37 31 24 15 1 * 73 9 3 3 3 0 0 100 100 100 100 100 11 1March 2031 . . . . . . . . . . 79 34 28 21 12 1 * 70 4 0 0 0 0 0 100 100 96 96 96 7 1March 2032 . . . . . . . . . . 77 30 25 18 10 1 * 66 0 0 0 0 0 0 100 93 79 79 79 5 *March 2033 . . . . . . . . . . 74 27 22 16 8 * * 62 0 0 0 0 0 0 100 69 66 66 66 3 *March 2034 . . . . . . . . . . 71 24 19 13 7 * * 58 0 0 0 0 0 0 100 54 54 54 54 2 *March 2035 . . . . . . . . . . 68 22 17 11 6 * * 53 0 0 0 0 0 0 100 44 44 44 44 1 *March 2036 . . . . . . . . . . 65 19 14 10 5 * * 49 0 0 0 0 0 0 100 36 36 36 36 1 *March 2037 . . . . . . . . . . 61 17 12 8 4 * * 43 0 0 0 0 0 0 100 29 29 29 29 1 *March 2038 . . . . . . . . . . 57 15 11 7 3 * * 38 0 0 0 0 0 0 100 23 23 23 23 * *March 2039 . . . . . . . . . . 53 12 9 6 2 * * 32 0 0 0 0 0 0 100 18 18 18 18 * *March 2040 . . . . . . . . . . 49 11 7 5 2 * * 25 0 0 0 0 0 0 100 14 14 14 14 * *March 2041 . . . . . . . . . . 44 9 6 4 1 * * 19 0 0 0 0 0 0 100 11 11 11 11 * *March 2042 . . . . . . . . . . 39 7 5 3 1 * * 11 0 0 0 0 0 0 100 8 8 8 8 * *March 2043 . . . . . . . . . . 34 5 4 2 1 * * 3 0 0 0 0 0 0 100 6 6 6 6 * *March 2044 . . . . . . . . . . 28 4 3 1 * * * 0 0 0 0 0 0 0 72 4 4 4 4 * *March 2045 . . . . . . . . . . 22 3 2 1 * * * 0 0 0 0 0 0 0 23 2 2 2 2 * *March 2046 . . . . . . . . . . 15 1 1 * * * * 0 0 0 0 0 0 0 1 1 1 1 1 * *March 2047 . . . . . . . . . . 8 * * * * * 0 0 0 0 0 0 0 0 * * * * * * *March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 19.9 10.6 9.4 8.2 6.5 3.3 2.5 16.3 6.2 5.4 5.4 5.4 3.0 2.3 26.5 17.6 17.4 17.4 17.4 8.8 6.2

* Indicates an outstanding balance greater than 0% and less than 0.5% of the original principal balance.** Determined as specified under “Yield, Maturity and Prepayment Considerations—Weighted Average Lives and Final

Distribution Dates” in the REMIC Prospectus.† In the case of a Notional Class, the Decrement Table indicates the percentage of the original notional principal balance

outstanding.

S-22

C Class HF, HS† and TP Classes HP Class




Date 0% 100% 125% 160% 225% 500% 700% 0% 100% 145% 218% 250% 500% 700% 0% 100% 145% 218% 250% 500% 700%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 100 100 100 95 85 45 15 99 97 96 95 94 90 87 98 95 94 94 94 94 94March 2020 . . . . . . . . . . 100 100 100 86 61 0 0 98 91 89 85 83 70 61 96 88 85 85 85 80 68March 2021 . . . . . . . . . . 100 100 100 78 40 0 0 97 84 80 73 70 49 35 93 78 73 73 73 53 37March 2022 . . . . . . . . . . 100 100 100 72 24 0 0 95 78 72 62 58 34 20 91 70 62 62 62 35 18March 2023 . . . . . . . . . . 100 100 100 67 12 0 0 94 72 64 53 49 23 11 88 61 52 52 52 22 8March 2024 . . . . . . . . . . 100 100 100 64 5 0 0 93 66 57 45 40 16 6 85 53 42 42 42 13 1March 2025 . . . . . . . . . . 100 100 100 61 1 0 0 91 61 51 38 34 11 4 82 46 34 34 34 6 0March 2026 . . . . . . . . . . 100 100 100 60 * 0 0 89 56 46 32 28 7 2 79 38 27 27 27 2 0March 2027 . . . . . . . . . . 100 100 99 59 * 0 0 88 51 40 27 23 5 1 76 31 21 21 21 0 0March 2028 . . . . . . . . . . 100 100 97 57 * 0 0 86 47 36 23 19 3 1 72 25 16 16 16 0 0March 2029 . . . . . . . . . . 100 100 93 54 * 0 0 84 42 32 20 16 2 * 69 19 11 11 11 0 0March 2030 . . . . . . . . . . 100 100 89 51 * 0 0 82 39 28 16 13 2 * 65 12 7 7 7 0 0March 2031 . . . . . . . . . . 100 100 84 47 * 0 0 79 35 25 14 11 1 * 60 7 4 4 4 0 0March 2032 . . . . . . . . . . 100 100 78 43 * 0 0 77 32 22 12 9 1 * 56 2 2 2 2 0 0March 2033 . . . . . . . . . . 100 100 72 39 * 0 0 74 28 19 10 7 * * 51 0 0 0 0 0 0March 2034 . . . . . . . . . . 100 94 66 35 * 0 0 71 25 16 8 6 * * 46 0 0 0 0 0 0March 2035 . . . . . . . . . . 100 86 60 32 * 0 0 68 23 14 7 5 * * 41 0 0 0 0 0 0March 2036 . . . . . . . . . . 100 78 53 28 * 0 0 65 20 12 5 4 * * 35 0 0 0 0 0 0March 2037 . . . . . . . . . . 100 70 47 24 * 0 0 61 18 11 4 3 * * 29 0 0 0 0 0 0March 2038 . . . . . . . . . . 100 62 42 21 * 0 0 57 15 9 4 2 * * 22 0 0 0 0 0 0March 2039 . . . . . . . . . . 100 55 36 18 * 0 0 53 13 7 3 2 * * 15 0 0 0 0 0 0March 2040 . . . . . . . . . . 100 47 31 15 * 0 0 49 11 6 2 1 * * 8 0 0 0 0 0 0March 2041 . . . . . . . . . . 100 40 25 12 * 0 0 44 10 5 2 1 * * * 0 0 0 0 0 0March 2042 . . . . . . . . . . 100 32 21 10 * 0 0 39 8 4 1 1 * * 0 0 0 0 0 0 0March 2043 . . . . . . . . . . 100 26 16 7 * 0 0 34 6 3 1 1 * * 0 0 0 0 0 0 0March 2044 . . . . . . . . . . 100 19 12 5 * 0 0 28 5 2 1 * * * 0 0 0 0 0 0 0March 2045 . . . . . . . . . . 100 13 8 4 * 0 0 22 3 2 * * * * 0 0 0 0 0 0 0March 2046 . . . . . . . . . . 79 7 4 2 * 0 0 15 2 1 * * * * 0 0 0 0 0 0 0March 2047 . . . . . . . . . . 41 1 1 * * 0 0 8 1 * * * * * 0 0 0 0 0 0 0March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 28.8 21.8 18.9 12.0 2.8 0.9 0.7 19.9 10.9 9.0 7.0 6.3 3.7 2.8 14.1 6.8 5.8 5.8 5.8 3.6 2.8

PZ Class CZ Class Z Class




Date 0% 100% 145% 218% 250% 500% 700% 0% 100% 145% 218% 250% 500% 700% 0% 100% 145% 218% 250% 500% 700%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 104 104 104 104 104 104 104 104 104 104 95 91 59 34 104 104 104 97 94 70 50March 2020 . . . . . . . . . . 108 108 108 108 108 108 108 108 108 108 79 66 0 0 108 108 108 86 76 26 26March 2021 . . . . . . . . . . 113 113 113 113 113 113 113 113 113 113 59 37 0 0 113 113 113 72 55 27 27March 2022 . . . . . . . . . . 117 117 117 117 117 117 117 117 117 117 46 17 0 0 117 117 117 63 41 28 28March 2023 . . . . . . . . . . 122 122 122 122 122 122 122 122 122 122 38 6 0 0 122 122 122 58 33 29 29March 2024 . . . . . . . . . . 127 127 127 127 127 127 127 127 127 127 35 * 0 0 127 127 127 57 31 30 30March 2025 . . . . . . . . . . 132 132 132 132 132 132 88 132 132 132 35 * 0 0 132 132 132 58 31 31 21March 2026 . . . . . . . . . . 138 138 138 138 138 138 50 138 138 133 35 * 0 0 138 138 134 59 33 33 12March 2027 . . . . . . . . . . 143 143 143 143 143 121 28 143 143 131 33 * 0 0 143 143 134 59 34 29 7March 2028 . . . . . . . . . . 149 149 149 149 149 82 16 149 149 126 31 * 0 0 149 149 132 59 35 19 4March 2029 . . . . . . . . . . 155 155 155 155 155 56 9 155 155 121 29 * 0 0 155 155 129 59 37 13 2March 2030 . . . . . . . . . . 161 161 161 161 161 38 5 161 161 114 27 * 0 0 161 161 125 59 38 9 1March 2031 . . . . . . . . . . 168 168 168 168 168 25 3 168 168 106 24 * 0 0 168 168 121 58 40 6 1March 2032 . . . . . . . . . . 175 175 175 175 175 17 2 175 172 98 22 * 0 0 175 173 116 58 42 4 *March 2033 . . . . . . . . . . 182 168 168 168 168 11 1 182 160 89 19 * 0 0 182 162 108 55 40 3 *March 2034 . . . . . . . . . . 189 136 136 136 136 8 * 189 148 81 17 * 0 0 189 145 94 45 32 2 *March 2035 . . . . . . . . . . 197 110 110 110 110 5 * 197 136 73 15 * 0 0 197 130 81 37 26 1 *March 2036 . . . . . . . . . . 205 88 88 88 88 3 * 205 123 64 13 * 0 0 205 115 70 31 21 1 *March 2037 . . . . . . . . . . 214 70 70 70 70 2 * 214 111 57 11 * 0 0 214 101 60 25 17 1 *March 2038 . . . . . . . . . . 222 55 55 55 55 1 * 222 98 49 9 * 0 0 222 88 51 20 13 * *March 2039 . . . . . . . . . . 231 43 43 43 43 1 * 231 86 42 8 * 0 0 231 76 43 16 10 * *March 2040 . . . . . . . . . . 241 33 33 33 33 1 * 241 75 36 6 * 0 0 241 65 35 13 8 * *March 2041 . . . . . . . . . . 251 25 25 25 25 * * 251 64 30 5 * 0 0 251 55 29 10 6 * *March 2042 . . . . . . . . . . 100 19 19 19 19 * * 261 53 24 4 * 0 0 223 45 23 7 4 * *March 2043 . . . . . . . . . . 14 14 14 14 14 * * 247 43 19 3 * 0 0 192 36 18 5 3 * *March 2044 . . . . . . . . . . 9 9 9 9 9 * * 205 33 14 2 * 0 0 158 27 13 4 2 * *March 2045 . . . . . . . . . . 6 6 6 6 6 * * 159 24 10 1 * 0 0 123 19 9 3 1 * *March 2046 . . . . . . . . . . 3 3 3 3 3 * * 110 15 6 1 * 0 0 85 12 6 1 1 * *March 2047 . . . . . . . . . . 1 1 1 1 1 * * 57 7 3 * * 0 0 44 5 2 1 * * *March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 24.0 18.9 18.9 18.9 18.9 11.2 8.1 27.5 21.3 18.3 7.5 2.7 1.1 0.8 26.8 20.7 19.0 12.2 8.8 4.2 2.9



outstanding.

S-23

PA Class LP Class ZC Class




Date 0% 100% 130% 190% 250% 400% 600% 0% 100% 130% 190% 250% 400% 600% 0% 100% 130% 190% 250% 400% 600%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 97 93 92 92 92 92 92 100 100 100 100 100 100 100 104 104 104 98 93 78 59March 2020 . . . . . . . . . . 93 81 78 78 78 78 66 100 100 100 100 100 100 100 108 108 108 89 69 22 0March 2021 . . . . . . . . . . 89 66 60 60 60 47 18 100 100 100 100 100 100 100 113 113 113 76 40 0 0March 2022 . . . . . . . . . . 85 51 43 43 43 18 0 100 100 100 100 100 100 80 117 117 117 66 19 0 0March 2023 . . . . . . . . . . 81 37 27 27 27 0 0 100 100 100 100 100 95 50 122 122 122 61 7 0 0March 2024 . . . . . . . . . . 76 24 13 13 13 0 0 100 100 100 100 100 70 31 127 127 127 59 1 0 0March 2025 . . . . . . . . . . 71 12 0 0 0 0 0 100 100 99 99 99 52 20 132 132 132 59 * 0 0March 2026 . . . . . . . . . . 66 1 0 0 0 0 0 100 100 82 82 82 39 12 138 138 134 59 * 0 0March 2027 . . . . . . . . . . 61 0 0 0 0 0 0 100 84 68 68 68 28 8 143 143 133 57 * 0 0March 2028 . . . . . . . . . . 55 0 0 0 0 0 0 100 68 56 56 56 21 5 149 149 129 54 * 0 0March 2029 . . . . . . . . . . 49 0 0 0 0 0 0 100 53 46 46 46 15 3 155 155 124 51 * 0 0March 2030 . . . . . . . . . . 43 0 0 0 0 0 0 100 39 38 38 38 11 2 161 161 117 47 * 0 0March 2031 . . . . . . . . . . 36 0 0 0 0 0 0 100 31 31 31 31 8 1 168 155 110 43 * 0 0March 2032 . . . . . . . . . . 29 0 0 0 0 0 0 100 25 25 25 25 6 1 175 146 102 39 * 0 0March 2033 . . . . . . . . . . 21 0 0 0 0 0 0 100 21 21 21 21 4 * 182 136 93 35 * 0 0March 2034 . . . . . . . . . . 13 0 0 0 0 0 0 100 17 17 17 17 3 * 189 125 85 31 * 0 0March 2035 . . . . . . . . . . 4 0 0 0 0 0 0 100 13 13 13 13 2 * 197 115 77 27 * 0 0March 2036 . . . . . . . . . . 0 0 0 0 0 0 0 93 11 11 11 11 2 * 205 104 69 24 * 0 0March 2037 . . . . . . . . . . 0 0 0 0 0 0 0 79 8 8 8 8 1 * 214 93 61 20 * 0 0March 2038 . . . . . . . . . . 0 0 0 0 0 0 0 63 7 7 7 7 1 * 222 83 53 17 * 0 0March 2039 . . . . . . . . . . 0 0 0 0 0 0 0 47 5 5 5 5 1 * 231 73 46 15 * 0 0March 2040 . . . . . . . . . . 0 0 0 0 0 0 0 30 4 4 4 4 * * 241 63 39 12 * 0 0March 2041 . . . . . . . . . . 0 0 0 0 0 0 0 12 3 3 3 3 * * 251 53 33 10 * 0 0March 2042 . . . . . . . . . . 0 0 0 0 0 0 0 2 2 2 2 2 * * 239 44 27 8 * 0 0March 2043 . . . . . . . . . . 0 0 0 0 0 0 0 2 2 2 2 2 * * 206 36 21 6 * 0 0March 2044 . . . . . . . . . . 0 0 0 0 0 0 0 1 1 1 1 1 * * 171 28 16 4 * 0 0March 2045 . . . . . . . . . . 0 0 0 0 0 0 0 1 1 1 1 1 * * 132 20 11 3 * 0 0March 2046 . . . . . . . . . . 0 0 0 0 0 0 0 * * * * * * * 91 13 7 2 * 0 0March 2047 . . . . . . . . . . 0 0 0 0 0 0 0 * * * * * * * 47 6 3 1 * 0 0March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 10.2 4.2 3.7 3.7 3.7 2.9 2.3 20.8 12.5 11.9 11.9 11.9 8.1 5.7 27.0 20.5 18.7 11.2 2.8 1.5 1.1

ST† Class TI† Class



Date 0% 100% 218% 500% 800% 1100% 1400% 1600% 0% 100% 218% 500% 800% 1100% 1400% 1600%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 98 91 84 67 50 33 15 4 98 90 83 67 50 33 15 4March 2020 . . . . . . . . . . 96 82 70 45 25 11 2 * 96 81 69 45 25 11 2 *March 2021 . . . . . . . . . . 94 73 58 30 12 3 * * 94 72 57 30 12 3 * *March 2022 . . . . . . . . . . 91 66 48 20 6 1 * * 91 64 47 20 6 1 * *March 2023 . . . . . . . . . . 89 58 39 13 3 * * * 88 56 38 13 3 * * *March 2024 . . . . . . . . . . 86 51 32 9 1 * * 0 85 49 30 8 1 * * 0March 2025 . . . . . . . . . . 82 45 26 6 1 * * 0 82 42 24 5 1 * * 0March 2026 . . . . . . . . . . 79 39 21 4 * * * 0 79 35 19 3 * * * 0March 2027 . . . . . . . . . . 75 33 16 2 * * 0 0 75 29 14 2 * * 0 0March 2028 . . . . . . . . . . 71 27 13 1 * * 0 0 70 24 11 1 * * 0 0March 2029 . . . . . . . . . . 66 23 10 1 * * 0 0 66 19 8 1 * * 0 0March 2030 . . . . . . . . . . 61 18 7 1 * * 0 0 61 15 6 * * * 0 0March 2031 . . . . . . . . . . 56 14 5 * * * 0 0 55 11 4 * * * 0 0March 2032 . . . . . . . . . . 50 11 4 * * * 0 0 49 8 3 * * * 0 0March 2033 . . . . . . . . . . 43 8 2 * * 0 0 0 42 5 2 * * 0 0 0March 2034 . . . . . . . . . . 36 5 2 * * 0 0 0 35 3 1 * * 0 0 0March 2035 . . . . . . . . . . 28 3 1 * * 0 0 0 27 2 1 * * 0 0 0March 2036 . . . . . . . . . . 20 2 * * * 0 0 0 20 1 * * * 0 0 0March 2037 . . . . . . . . . . 13 * * * * 0 0 0 14 * * * * 0 0 0March 2038 . . . . . . . . . . 5 * * * 0 0 0 0 7 * * * 0 0 0 0March 2039 . . . . . . . . . . 2 0 0 0 0 0 0 0 3 0 0 0 0 0 0 0March 2040 . . . . . . . . . . * 0 0 0 0 0 0 0 * 0 0 0 0 0 0 0March 2041 . . . . . . . . . . * 0 0 0 0 0 0 0 * 0 0 0 0 0 0 0March 2042 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2043 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2044 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2045 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2046 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2047 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 12.9 7.0 4.9 2.5 1.5 0.9 0.6 0.3 12.9 6.6 4.7 2.5 1.5 0.9 0.6 0.3



outstanding.

S-24

SG† Class IT† Class



Date 0% 100% 218% 500% 800% 1100% 1400% 1600% 0% 100% 218% 500% 800% 1100% 1400% 1600%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100March 2019 . . . . . . . . . . 98 90 83 67 50 33 15 4 98 91 84 68 50 33 16 4March 2020 . . . . . . . . . . 96 81 69 45 25 11 2 * 96 83 71 46 25 11 2 *March 2021 . . . . . . . . . . 94 72 57 30 12 3 * * 93 75 59 31 13 4 * *March 2022 . . . . . . . . . . 92 64 47 20 6 1 * * 90 67 49 21 6 1 * *March 2023 . . . . . . . . . . 89 57 38 13 3 * * * 87 60 41 14 3 * * *March 2024 . . . . . . . . . . 86 50 31 8 1 * * 0 84 54 34 9 2 * * 0March 2025 . . . . . . . . . . 83 43 25 5 1 * * 0 81 47 27 6 1 * * 0March 2026 . . . . . . . . . . 80 37 20 3 * * * 0 77 42 22 4 * * * 0March 2027 . . . . . . . . . . 77 31 15 2 * * * 0 73 36 18 3 * * * 0March 2028 . . . . . . . . . . 73 26 12 1 * * 0 0 68 31 14 2 * * 0 0March 2029 . . . . . . . . . . 68 21 9 1 * * 0 0 63 26 11 1 * * 0 0March 2030 . . . . . . . . . . 64 17 7 * * * 0 0 58 21 8 1 * * 0 0March 2031 . . . . . . . . . . 59 13 5 * * * 0 0 52 17 6 * * * 0 0March 2032 . . . . . . . . . . 53 10 3 * * * 0 0 45 13 4 * * * 0 0March 2033 . . . . . . . . . . 48 7 2 * * 0 0 0 38 9 3 * * 0 0 0March 2034 . . . . . . . . . . 41 4 1 * * 0 0 0 31 6 2 * * 0 0 0March 2035 . . . . . . . . . . 34 2 * * * 0 0 0 23 2 1 * * 0 0 0March 2036 . . . . . . . . . . 26 * * * * 0 0 0 14 1 * * * 0 0 0March 2037 . . . . . . . . . . 21 * * * 0 0 0 0 8 * * * 0 0 0 0March 2038 . . . . . . . . . . 16 * * * 0 0 0 0 4 * * * 0 0 0 0March 2039 . . . . . . . . . . 14 * * 0 0 0 0 0 2 * * 0 0 0 0 0March 2040 . . . . . . . . . . 11 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0March 2041 . . . . . . . . . . 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2042 . . . . . . . . . . 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2043 . . . . . . . . . . 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2044 . . . . . . . . . . 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2045 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2046 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2047 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0March 2048 . . . . . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 14.0 6.8 4.8 2.5 1.5 0.9 0.6 0.3 12.4 7.3 5.1 2.5 1.5 0.9 0.6 0.3



outstanding.

Characteristics of the Residual Classes

A Residual Certificate will be subject to certain transfer restrictions. See “Description of theCertificates—Special Characteristics of the Residual Certificates” and “Material Federal Income TaxConsequences—Taxation of Beneficial Owners of Residual Certificates” in the REMIC Prospectus.

Treasury Department regulations (the “Regulations”) provide that a transfer of a “noneconomicresidual interest” will be disregarded for all federal tax purposes unless no significant purpose of thetransfer is to impede the assessment or collection of tax. A Residual Certificate will constitute anoneconomic residual interest under the Regulations. Having a significant purpose to impede theassessment or collection of tax means that the transferor of a Residual Certificate had “improperknowledge” at the time of the transfer. See “Description of the Certificates—Special Characteristics ofthe Residual Certificates” in the REMIC Prospectus. You should consult your own tax advisorregarding the application of the Regulations to a transfer of a Residual Certificate.

CERTAIN ADDITIONAL FEDERAL INCOME TAX CONSEQUENCES

The Certificates and payments on the Certificates are not generally exempt from taxation.Therefore, you should consider the tax consequences of holding a Certificate before you acquireone. The following tax discussion supplements the discussion under the caption “Material FederalIncome Tax Consequences” in the REMIC Prospectus. When read together, the two discussionsdescribe the current federal income tax treatment of beneficial owners of Certificates. These twotax discussions do not purport to deal with all federal tax consequences applicable to all categoriesof beneficial owners, some of which may be subject to special rules. In addition, these discussionsmay not apply to your particular circumstances for one of the reasons explained in the REMICProspectus. You should consult your own tax advisors regarding the federal income tax

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consequences of holding and disposing of Certificates as well as any tax consequences arisingunder the laws of any state, local or foreign taxing jurisdiction.

REMIC Elections and Special Tax Attributes

We will make a REMIC election with respect to each REMIC set forth in the table under“Description of the Certificates—General—Structure.” The Regular Classes will be designated as“regular interests” and the Residual Classes will be designated as the “residual interests” in theREMICs as set forth in that table. Thus, the REMIC Certificates and any related RCR Certificatesgenerally will be treated as “regular or residual interests in a REMIC” for domestic building andloan associations, as “real estate assets” for real estate investment trusts, and, except for theResidual Classes, as “qualified mortgages” for other REMICs. See “Material Federal Income TaxConsequences—REMIC Election and Special Tax Attributes” in the REMIC Prospectus.

Taxation of Beneficial Owners of Regular Certificates

The Accrual Classes and the Notional Classes will be issued with original issue discount(“OID”), and certain other Classes of REMIC Certificates may be issued with OID. If a Class isissued with OID, a beneficial owner of a Certificate of that Class generally must recognize sometaxable income in advance of the receipt of the cash attributable to that income. See “MaterialFederal Income Tax Consequences—Taxation of Beneficial Owners of Regular Certificates—Treatment of Original Issue Discount” in the REMIC Prospectus. In addition, certain Classes ofREMIC Certificates may be treated as having been issued at a premium. See “Material FederalIncome Tax Consequences—Taxation of Beneficial Owners of Regular Certificates—RegularCertificates Purchased at a Premium” in the REMIC Prospectus.

The Prepayment Assumptions that will be used in determining the rate of accrual of OID willbe as follows:

Group Prepayment Assumption

1 190% PSA2 160% PSA3 218% PSA4 190% PSA5 218% PSA6 218% PSA

See “Material Federal Income Tax Consequences—Taxation of Beneficial Owners of RegularCertificates—Treatment of Original Issue Discount” in the REMIC Prospectus. No representationis made as to whether the Mortgage Loans underlying the MBS will prepay at any of those ratesor at any other rate. See “Description of the Certificates—Weighted Average Lives of the Certifi-cates” in this prospectus supplement and “Yield, Maturity and Prepayment Considerations—Weighted Average Lives and Final Distribution Dates” in the REMIC Prospectus.

The law informally known as the Tax Cuts and Jobs Act (“TCJA”), which was enacted onDecember 22, 2017, generally requires a beneficial owner of a Regular Certificate that uses anaccrual method of accounting for tax purposes to include certain amounts in income no later thanthe time such amounts are reflected on certain financial statements. Although the precise applica-tion of this rule is unclear, it might require the accrual of income earlier than is the case underthe general tax rules described under “Material Federal Income Tax Consequences—Taxation ofBeneficial Owners of Regular Certificates” in the REMIC Prospectus. This rule is generally effec-tive for tax years beginning after December 31, 2017, or for Regular Certificates issued withoriginal issue discount, for tax years beginning after December 31, 2018. Prospective investors inRegular Certificates that use an accrual method of accounting for tax purposes are urged to

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consult with their tax advisors regarding the potential applicability of this legislation to theirparticular situations.

Taxation of Beneficial Owners of Residual Certificates

The Holder of a Residual Certificate will be considered to be the holder of the “residualinterest” in the related REMIC. Such Holder generally will be required to report its daily portionof the taxable income or net loss of the REMIC to which that Certificate relates. In certainperiods, a Holder of a Residual Certificate may be required to recognize taxable income withoutbeing entitled to receive a corresponding amount of cash. Pursuant to the Trust Agreement, wewill be obligated to provide to the Holder of a Residual Certificate (i) information necessary toenable it to prepare its federal income tax returns and (ii) any reports regarding the ResidualClass that may be required under the Code. See “Material Federal Income Tax Consequences—Taxation of Beneficial Owners of Residual Certificates” in the REMIC Prospectus.

The TCJA generally denies a deduction for an individual, trust or estate that holds a ResidualCertificate of its allocable share of the REMIC’s fees or expenses under Section 212 of the Code forany taxable year beginning after December 31, 2017, and before January 1, 2026. Prospectiveinvestors in Residual Certificates are urged to consult with their tax advisors regarding thepotential applicability of this legislation to their particular situations.

Taxation of Beneficial Owners of RCR Certificates

The RCR Classes will be created, sold and administered pursuant to an arrangement that willbe classified as a grantor trust under subpart E, part I of subchapter J of the Code. The RegularCertificates that are exchanged for RCR Certificates set forth in Schedule 1 (including anyexchanges effective on the Settlement Date) will be the assets of the trust, and theRCR Certificates will represent an ownership interest of the underlying Regular Certificates. Fora general discussion of the federal income tax treatment of beneficial owners of Regular Certifi-cates, see “Material Federal Income Tax Consequences” in the REMIC Prospectus.

Generally, the ownership interest represented by an RCR certificate will be one of two types.A certificate of a Combination RCR Class (a “Combination RCR Certificate”) will represent benefi-cial ownership of undivided interests in one or more underlying Regular Certificates. A certificateof a Strip RCR Class (a “Strip RCR Certificate”) will represent the right to receive a dispropor-tionate part of the principal or interest payments on one or more underlying Regular Certificates.The AB, IA and AC Classes are Classes of Strip RCR Certificates. The A, Z and TP Classes areClasses of Combination RCR Certificates. See “Material Federal Income Tax Consequences—Taxation of Beneficial Owners of RCR Certificates” in the REMIC Prospectus for a generaldiscussion of the federal income tax treatment of beneficial owners of RCR Certificates.

Tax Audit Procedures

The Bipartisan Budget Act of 2015, which was enacted on November 2, 2015, repeals andreplaces the rules applicable to certain administrative and judicial proceedings regarding apartnership’s tax affairs, effective beginning with the 2018 taxable year. Under the new rules, apartnership, including for this purpose a REMIC for a taxable year in which it has multipleResidual Owners, appoints one person to act as its sole representative in connection with IRSaudits and related procedures. The representative’s actions, including the representative’sagreeing to adjustments to taxable income, will bind partners or Residual Owners to a greaterdegree than would actions of the tax matters partner (“TMP”) under the rules in effect prior to the2018 taxable year. See “Material Federal Income Tax Consequences—Reporting and OtherAdministrative Matters” in the REMIC Prospectus for a discussion of the TMP. Under the newrules, a REMIC having multiple Residual Owners in a taxable year, unless such REMIC electsotherwise, will be required to pay taxes arising from IRS audit adjustments rather than its

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Residual Owners. The Trustee, as representative, will have the authority to utilize, and will bedirected to utilize, any exceptions available under the new provisions (including changes) andRegulations so that the Residual Owners, to the fullest extent possible, rather than the REMICitself, will be liable for any taxes arising from audit adjustments to the REMIC’s taxable income.An adjustment to the REMIC’s taxable income following an IRS audit may have to be taken intoaccount by those Residual Owners in the taxable year in which the adjustment is made ratherthan in the taxable year to which the adjustment relates, and otherwise in different and poten-tially less advantageous ways than under the rules in effect prior to the 2018 taxable year. Thenew rules apply to existing and future REMICs having multiple Residual Owners in a taxableyear. The new rules are complex and may be clarified and possibly revised. Residual Ownersshould discuss with their own tax advisors the possible effect of the new rules on them.

Foreign Investors

Beginning on January 1, 2019, a 30-percent United States withholding tax (“FATCAwithholding”) will apply to gross proceeds from the sale or other disposition of a Regular Certifi-cate that are paid to a non-U.S. entity that is a “financial institution” and fails to comply withcertain reporting and other requirements or to a non-U.S. entity that is not a “financialinstitution” but fails to disclose the identity of its direct or indirect “substantial U.S. owners” or tocertify that it has no such owners. FATCA withholding currently applies to payments treated asinterest on a Regular Certificate paid to such persons. Various exceptions may apply. You shouldconsult your own tax advisor regarding the potential application and impact of this withholdingtax based on your particular circumstances. See “Material Federal Income Tax Consequences—Foreign Investors” in the REMIC Prospectus.

ADDITIONAL ERISA CONSIDERATIONS

The following discussion supplements the discussion under “ERISA Considerations” in theREMIC Prospectus regarding important considerations for investors subject to ERISA or section4975 of the Code. None of Fannie Mae, the Dealers or any of their respective affiliates(collectively, the “Transaction Parties”) is undertaking to provide impartial investment advice, orto give advice in a fiduciary capacity, in connection with the acquisition of Certificates by any“plan” or any purchaser using assets of a plan, as described in 29 C.F.R. Section 2510.3-101, asmodified by Section 3(42) of ERISA (collectively a “plan investor”). In addition, each beneficialowner of Certificates or any interest therein that is a plan investor, including any fiduciarypurchasing the Certificates on behalf of a plan investor (“Plan Fiduciary”), will be deemed by itsacquisition of the Certificates to represent that:

1. If any of the Transaction Parties has provided, or will provide, advice with respect to theacquisition of the Certificates by the plan investor, it has or will provide advice only to aPlan Fiduciary that is independent of the Transaction Parties giving such advice, if any,and that is one of the following:

• a bank as defined in Section 202 of the Investment Advisers Act of 1940 (the “AdvisersAct”), or a similar institution that is regulated and supervised and subject to periodicexamination by a State or federal agency;

• an insurance carrier that is qualified under the laws of more than one State to performthe services of managing, acquiring or disposing of assets of a plan investor;

• an investment adviser registered under the Advisers Act or, if not registered as aninvestment adviser under the Advisers Act by reason of paragraph (1) of Section 203Aof the Advisers Act, registered as an investment adviser under the laws of the State inwhich it maintains its principal office and place of business;

• a broker-dealer registered under the Exchange Act; or

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• a fiduciary that, for so long as the plan investor is invested in the Certificates, will havetotal assets of at least $50,000,000 under its management or control (provided that thisrequirement will not be satisfied if the Plan Fiduciary is either (i) the owner or a rela-tive of the owner of an investing IRA or (ii) a participant or beneficiary or a relative ofsuch participant or beneficiary of the plan investor investing in the Certificates in suchcapacity).

2. The Plan Fiduciary is capable of evaluating investment risks independently, both ingeneral and with respect to particular transactions and investment strategies, includingthe acquisition by the plan investor of the Certificates.

3. The Plan Fiduciary is a “fiduciary” with respect to the plan investor within the meaningof section 3(21) of ERISA or section 4975 of the Code, or both, and an “independentfiduciary” within the meaning of the Fiduciary Rule, and is responsible for exercisingindependent judgment in evaluating the plan investor’s acquisition of the Certificates.

4. None of the Transaction Parties has exercised any authority to cause the plan investor toinvest in the Certificates or to negotiate the terms of the plan investor’s investment in theCertificates.

5. Neither the plan investor nor the Plan Fiduciary is paying or has paid a fee or othercompensation to any of the Transaction Parties for investment advice (as opposed to otherservices) in connection with the plan investor’s acquisition or holding of the Certificates

6. The Plan Fiduciary has been informed by the Transaction Parties:

• that none of the Transaction Parties is undertaking to provide impartial investmentadvice or to give advice in a fiduciary capacity in connection with the plan investor’sacquisition of the Certificates; and

• of the existence and nature of the Transaction Parties’ financial interests in the planinvestor’s acquisition of the Certificates.

These representations are intended to comply with 29 C.F.R. Sections 2510.3-21(a) and (c)(1)(the “Fiduciary Rule”). If these sections of the Fiduciary Rule are revoked, repealed or no longereffective, these representations will be deemed to be no longer in effect.

PLAN OF DISTRIBUTION

We are obligated to deliver the Certificates to J.P. Morgan Securities LLC (the “Dealer”) inexchange for the Trust MBS and the Underlying REMIC Certificates. The Dealer proposes to offerthe Certificates directly to the public from time to time in negotiated transactions at varyingprices to be determined at the time of sale. The Dealer may effect these transactions to or throughother dealers.

CREDIT RISK RETENTION

The Certificates satisfy the requirements of the Credit Risk Retention Rule (12 C.F.R.Part 1234) jointly promulgated by the Federal Housing Finance Agency (“FHFA”), the SEC andseveral other federal agencies. In accordance with 12 C.F.R. 1234.8(a), (i) the Certificates are fullyguaranteed as to timely payment of principal and interest by Fannie Mae and (ii) Fannie Mae isoperating under the conservatorship of FHFA with capital support from the United States.

EUROPEAN ECONOMIC AREA RISK RETENTION

Prospective investors whose investment activities are subject to investment laws and regu-lations, regulatory capital requirements or review by regulatory authorities may be subject to

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restrictions on investment in the certificates. Prospective investors should consult legal, tax andaccounting advisers for assistance in determining the suitability of and consequences of thepurchase, ownership and sale of the certificates.

The application of Articles 404-410 of the European Union Capital Requirements Regulation575/2013 and similar European Economic Area (“EEA”) legislation on risk retention requirements(the “EEA Risk Retention Regulations”) to the certificates transaction (the “Transaction”) is unclear.

Our exposure to the credit risk related to the Transaction is in the form of our guarantyobligations on the certificates (the “Guaranty Obligations”). Our Guaranty Obligations representgeneral unsecured obligations. Obligations similar to our Guaranty Obligations have long been acentral feature to our mortgage-backed securities issuance programs and our Guaranty Obliga-tions were undertaken in the ordinary course of our business.

In determining the extent to which the EEA Risk Retention Regulations apply to the Trans-action, investors subject to the EEA Risk Retention Regulations may wish to consider the guid-ance appearing in the preamble to the regulatory technical standards contained in CommissionDelegated Regulation (EU) No. 625/2014 of March 13, 2014, which provides in relevant part:“Where an entity securitises its own liabilities, alignment of interest is established automatically,regardless of whether the final debtor collateralises its debt. Where it is clear that the credit riskremains with the originator the retention of interest by the originator is unnecessary, and wouldnot improve on the pre-existing position.” We will remain fully liable under the Guaranty Obliga-tions. We do not intend to collateralize any of our credit exposure under the Guaranty Obligationsor the certificates.

In order to assist Applicable Investors (as defined below) in evaluating a potential investmentin the certificates, we will enter into a letter agreement on the settlement date pursuant to whichwe will irrevocably undertake to the certificateholders that, in connection with the EEA RiskRetention Regulations, at the origination and on an ongoing basis, so long as any certificatesremain outstanding:

• we will, as originator (for purposes of the EEA Risk Retention Regulations), retain amaterial net economic interest (the “Retained Interest”) in the exposure related to theTransaction of not less than 5% through the Guaranty Obligations;

• neither we nor our affiliates will sell, hedge or otherwise mitigate our credit risk under orassociated with the Retained Interest or the mortgage loans, except to the extent permittedin accordance with the EEA Risk Retention Regulations; accordingly, neither we nor ouraffiliates will, through this transaction or any subsequent transactions, enter into agree-ments that transfer or hedge more than a 95% pro rata share of the credit riskcorresponding to any of the certificates;

• we will, upon written request and further subject to any applicable duty of confidentiality,provide such information in our possession as may reasonably be required to assist thecertificateholders to satisfy the due diligence obligations set forth in the EEA RiskRetention Regulations as of the settlement date and at any time prior to maturity of thecertificates;

• we will confirm to the trustee for reporting to certificateholders our continued compliancewith the undertakings set out at the first and second bullet points above (whichconfirmation may be by email): (i) on a monthly basis; and (ii) following our determinationthat the performance of the certificates or the risk characteristics of the certificates or ofthe mortgage loans has materially changed; and

• we will promptly notify the trustee in writing if for any reason: (i) we cease to hold theRetained Interest in accordance with the first bullet point above; or (ii) we or any of ouraffiliates fails to comply with the covenants set out in the second and third bullet pointsabove in any way.

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“Applicable Investor” means each holder of a beneficial interest in any certificates that is(i) an EEA credit institution or investment firm, (ii) an EEA insurer or reinsurer, (iii) an EEAundertaking for collective investment in transferable securities (UCITS) or (iv) an alternativeinvestment fund to which Directive 2011/61/EU applies.

Prospective investors should also be aware that a new regulatory regime (the “SecuritizationRegulation”) will generally apply from and after January 1, 2019 to securitizations in whichsecurities are issued after that date. The Securitization Regulation will apply to the types ofregulated investors covered by the EEA Risk Retention Regulations and also to (a) UCITS andUCITS management companies, and (b) institutions for occupational retirement provision fallingwithin the scope of Directive (EU) 2016/2341 (subject to certain exceptions), and certain invest-ment managers and authorized entities appointed by such institutions (together, “IORPs”). Withregard to securitizations in respect of which the relevant securities are issued before January 1,2019 (“Pre-2019 Securitizations”), investors that are subject to the EEA Risk Retention Regu-lations will continue to be subject to the risk retention and due diligence requirements of the EEARisk Retention Regulations, including on and after that date. The Securitization Regulationmakes no express provision for the application of any requirements of the EEA Risk RetentionRegulations or of the Securitization Regulation to UCITS or IORPs that hold or acquire anyinterest in respect of a Pre-2019 Securitization and, accordingly, it is not clear what requirements(if any) will be applicable to those investors. Prospective investors are themselves responsible formonitoring and assessing changes to the EEA Risk Retention Regulations and their regulatorycapital requirements.

Each prospective investor in the certificates is required independently to assess anddetermine whether our disclosure regarding risk retention contained in this prospectus supple-ment and the prospectus is sufficient for purposes of complying with any applicable risk retentionrequirements. Neither we nor the trustee or any other person makes any representation orprovides any assurance to the effect that the information described in this prospectus supplementor in the prospectus is sufficient for such purposes. Each prospective investor in the certificatesthat is subject to any retention requirements should consult with its own legal, accounting andother advisors and/or its national regulator in determining the extent to which such information issufficient for such purpose.

THE CERTIFICATES ARE NOT INTENDED TO BE OFFERED, SOLD OR OTHERWISEMADE AVAILABLE TO, AND SHOULD NOT BE OFFERED, SOLD OR OTHERWISE MADEAVAILABLE TO, ANY RETAIL INVESTOR IN THE EEA. FOR THESE PURPOSES, A RETAILINVESTOR MEANS A PERSON WHO IS ONE (OR MORE) OF: (I) A RETAIL CLIENT ASDEFINED IN POINT (11) OF ARTICLE 4(1) OF DIRECTIVE 2014/65/EU (AS AMENDED,“MIFID II”); OR (II) A CUSTOMER WITHIN THE MEANING OF DIRECTIVE 2002/92/EC,WHERE THAT CUSTOMER WOULD NOT QUALIFY AS A PROFESSIONAL CLIENT ASDEFINED IN POINT (10) OF ARTICLE 4(1) OF MIFID II; OR (III) NOT A QUALIFIEDINVESTOR AS DEFINED IN DIRECTIVE 2003/71/EC, CONSEQUENTLY NO KEYINFORMATION DOCUMENT REQUIRED BY REGULATION (EU) NO 1286/2014 (ASAMENDED, THE “PRIIPS REGULATION”) FOR OFFERING OR SELLING THE CERTIFI-CATES OR OTHERWISE MAKING THEM AVAILABLE TO RETAIL INVESTORS IN THE EEAHAS BEEN PREPARED AND THEREFORE OFFERING OR SELLING THE CERTIFICATESOR OTHERWISE MAKING THEM AVAILABLE TO ANY RETAIL INVESTOR IN THE EEAMAY BE UNLAWFUL UNDER THE PRIIPS REGULATION.

LEGAL MATTERS

Katten Muchin Rosenman LLP will provide legal representation for Fannie Mae. ClearyGottlieb Steen & Hamilton LLP will provide legal representation for the Dealer.

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Exhibit A

Group 5 Underlying REMIC Certificates

UnderlyingREMICTrust Class

Dateof

IssueCUSIP

NumberInterest

RateInterestType(1)

FinalDistribution

DatePrincipalType(1)

OriginalNotionalPrincipalBalanceof Class

March2018Class

Factor

NotionalPrincipal

Balance inthe Lower

Tier REMIC

ApproximateWeightedAverage

WAC


WAM(in months)

ApproximateWeightedAverageWALA

(in months)

Subgroup 5a 2005-57 NI June 2005 31394ERL4 (2) INV/IO July 2035 NTL $ 36,740,513 0.09456417 $3,474,336.11 6.933% 181 1642007-105 SM October 2007 31396XG73 (2) INV/IO November 2037 NTL 81,719,557 0.06332880 69,661.68 7.042 218 1272007-117 KS December 2007 31396YAZ5 (2) INV/IO January 2038 NTL 100,000,000 0.02366651 2,141,819.15 6.978 223 1242008-64 HI July 2008 31397MFQ5 (2) INV/IO August 2038 NTL 100,000,000 0.02540693 2,540,693.00 6.979 233 1172009-110 SD December 2009 31398GMY2 (2) INV/IO January 2040 NTL 148,800,000 0.11028227 5,183,266.69 7.003 150 1972012-74 SA(3) June 2012 3136A65Y6 (2) INV/IO March 2042 NTL 92,857,142 0.32044050 64,088.10 7.025 136 211

Subgroup 5b 2008-46 EI May 2008 31397LRW1 (2) INV/IO June 2038 NTL 50,000,000 0.15335460 7,667,730.00 7.023 225 119

(1) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.(2) These classes bear interest as described in the related Underlying REMIC Disclosure Documents.(3) The Class 2012-74-SA REMIC Certificate is backed by the Fannie Mae REMIC Certificate listed below having the following characteristics:

ClassInterest

TypePrincipal

Type

2012-25-B FIX SEQ

Note: For any pool of Mortgage Loans backing an underlying REMIC or RCR certificate, if a preliminary calculation indicated that the sum of the WAM and WALA for thatpool exceeded the longest original term to maturity of any Mortgage Loan in the pool, the WALA used in determining the information shown in the related table wasreduced as necessary to insure that the sum of the WAM and WALA does not exceed such original term to maturity.

A-1

Group 6 Underlying REMIC Certificates

UnderlyingREMICTrust Class

Dateof

IssueCUSIP

NumberInterest

RateInterestType(1)

FinalDistribution

DatePrincipalType(1)

OriginalNotionalPrincipalBalanceof Class

March2018Class

Factor

NotionalPrincipal

Balance inthe Lower

Tier REMIC


WAC


WAM(in months)

ApproximateWeightedAverageWALA

(in months)

Subgroup 6a 2006-35 SI April 2006 31395DRL5 (2) INV/IO May 2036 NTL $ 54,474,000 0.10112604 $5,508,739.90 6.485% 204 1452007-72 EK June 2007 31396WQH2 (2) INV/IO July 2037 NTL 228,000,000 0.04708085 47,080.85 6.680 219 1322008-11 SB February 2008 31396YVA7 (2) INV/IO March 2038 NTL 73,988,948 0.06523373 4,826,575.05 6.451 217 1322010-117 SE September 2010 31398NQ98 (2) INV/IO October 2040 NTL 84,685,714 0.04878093 1,032,761.99 6.630 226 1232010-153 SI December 2010 31398S3H4 (2) INV/IO January 2041 NTL 130,664,842 0.04150153 899,124.09 6.665 227 124

Subgroup 6b 2014-50 WS July 2014 3136AKXM0 (2) INV/IO August 2044 NTL 114,854,004 0.43429938 5,211,592.56 6.566 147 200

(1) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.(2) These classes bear interest as described in the related Underlying REMIC Disclosure Documents.

Note: For any pool of Mortgage Loans backing an underlying REMIC or RCR certificate, if a preliminary calculation indicated that the sum of the WAM and WALA for thatpool exceeded the longest original term to maturity of any Mortgage Loan in the pool, the WALA used in determining the information shown in the related table wasreduced as necessary to insure that the sum of the WAM and WALA does not exceed such original term to maturity.

A-2

Schedule 1

Available Recombinations(1)

REMIC Certificates RCR Certificates

ClassesOriginalBalances

RCRClass

OriginalBalances

PrincipalType(2)

InterestRate

InterestType(2)

CUSIPNumber

FinalDistribution

Date

Recombination 1AG $139,992,341 AB $152,596,485 PT 3.0% FIX 3136B1VX9 April 2048AL 12,604,144 IA 16,955,165(3) NTL 4.5 FIX/IO 3136B1WA8 April 2048

Recombination 2AG 139,992,341 A 152,596,485 PT 3.5 FIX 3136B1VY7 April 2048AL 12,604,144

Recombination 3AG 139,992,341 AC 76,298,242 PT 4.0 FIX 3136B1VZ4 April 2048AL 12,604,144 AB 76,298,243 PT 3.0 FIX 3136B1VX9 April 2048

Recombination 4PZ 2,083,000 Z 8,769,000 SUP 4.0 FIX/Z 3136B1WB6 April 2048CZ 6,686,000

Recombination 5HP 41,231,000 TP(4) 50,000,000 PT 4.0 FIX 3136B1WC4 April 2048PZ 2,083,000CZ 6,686,000

(1) REMIC Certificates and RCR Certificates in any Recombination may be exchanged only in the proportions of original principal or notional principal balances for therelated Classes shown in this Schedule 1 (disregarding any retired Classes). For example, if a particular Recombination includes two REMIC Classes and one RCRClass whose original principal balances shown in the schedule reflect a 1:1:2 relationship, the same 1:1:2 relationship among the original principal balances of thoseREMIC and RCR Classes must be maintained in any exchange. This is true even if, as a result of the applicable payment priority sequence, the relationship betweentheir current principal balances has changed over time. Moreover, if as a result of a proposed exchange, a Certificateholder would hold a REMIC Certificate or RCRCertificate of a Class in an amount less than the applicable minimum denomination for that Class, the Certificateholder will be unable to effect the proposed exchange.See “Description of the Certificates—General— Authorized Denominations” in this prospectus supplement.

(2) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.(3) Notional principal balance. This Class is an Interest Only Class. See page S-7 for a description of how its notional principal balance is calculated.(4) Principal payments on the REMIC Certificates in Recombination 5 from the PZ Accrual Amount and the CZ Accrual Amount will be paid as interest on the related

RCR Certificates, and thus will not reduce the principal balances of those RCR Certificates.

A-3

Principal Balance Schedules

Aggregate Group I Planned Balances

DistributionDate

PlannedBalance

Initial Balance . . . . . . $62,641,023.00April 2018 . . . . . . . . . . 62,409,196.56May 2018 . . . . . . . . . . 62,161,252.92June 2018 . . . . . . . . . . 61,897,307.91July 2018 . . . . . . . . . . . 61,617,487.74August 2018 . . . . . . . . 61,321,928.93September 2018 . . . . . 61,010,778.18October 2018 . . . . . . . . 60,684,192.30November 2018 . . . . . 60,342,338.06December 2018 . . . . . . 59,985,392.03January 2019 . . . . . . . 59,613,540.51February 2019 . . . . . . 59,226,979.29March 2019 . . . . . . . . . 58,825,913.56April 2019 . . . . . . . . . . 58,410,557.67May 2019 . . . . . . . . . . 57,981,135.00June 2019 . . . . . . . . . . 57,537,877.72July 2019 . . . . . . . . . . . 57,081,026.59August 2019 . . . . . . . . 56,610,830.78September 2019 . . . . . 56,127,547.60October 2019 . . . . . . . . 55,631,442.30November 2019 . . . . . 55,122,787.81December 2019 . . . . . . 54,601,864.48January 2020 . . . . . . . 54,068,959.86February 2020 . . . . . . 53,530,694.11March 2020 . . . . . . . . . 52,995,852.03April 2020 . . . . . . . . . . 52,464,414.07May 2020 . . . . . . . . . . 51,936,360.96June 2020 . . . . . . . . . . 51,411,673.71July 2020 . . . . . . . . . . . 50,890,333.64August 2020 . . . . . . . . 50,372,322.33September 2020 . . . . . 49,857,890.05October 2020 . . . . . . . . 49,347,013.11November 2020 . . . . . 48,839,667.96December 2020 . . . . . . 48,335,831.20January 2021 . . . . . . . 47,835,479.59February 2021 . . . . . . 47,338,590.03March 2021 . . . . . . . . . 46,845,139.60April 2021 . . . . . . . . . . 46,355,105.49May 2021 . . . . . . . . . . 45,868,465.08June 2021 . . . . . . . . . . 45,385,195.85July 2021 . . . . . . . . . . . 44,905,275.48August 2021 . . . . . . . . 44,428,681.75September 2021 . . . . . 43,955,392.61October 2021 . . . . . . . . 43,485,386.16November 2021 . . . . . 43,018,640.61December 2021 . . . . . . 42,555,134.35January 2022 . . . . . . . 42,094,845.89February 2022 . . . . . . 41,637,753.89March 2022 . . . . . . . . . 41,183,837.14April 2022 . . . . . . . . . . 40,733,074.57May 2022 . . . . . . . . . . 40,285,445.25June 2022 . . . . . . . . . . 39,840,928.40July 2022 . . . . . . . . . . . 39,399,503.35August 2022 . . . . . . . . 38,961,149.59September 2022 . . . . . 38,525,846.72October 2022 . . . . . . . . 38,093,574.49

DistributionDate

PlannedBalance

November 2022 . . . . . $37,664,312.78December 2022 . . . . . . 37,238,041.60January 2023 . . . . . . . 36,814,741.09February 2023 . . . . . . 36,394,391.51March 2023 . . . . . . . . . 35,976,973.28April 2023 . . . . . . . . . . 35,562,466.90May 2023 . . . . . . . . . . 35,150,853.04June 2023 . . . . . . . . . . 34,742,112.48July 2023 . . . . . . . . . . . 34,336,226.13August 2023 . . . . . . . . 33,933,175.01September 2023 . . . . . 33,532,940.28October 2023 . . . . . . . . 33,135,503.21November 2023 . . . . . 32,740,845.22December 2023 . . . . . . 32,348,947.81January 2024 . . . . . . . 31,959,792.63February 2024 . . . . . . 31,573,361.45March 2024 . . . . . . . . . 31,189,636.15April 2024 . . . . . . . . . . 30,808,598.73May 2024 . . . . . . . . . . 30,430,231.30June 2024 . . . . . . . . . . 30,054,516.10July 2024 . . . . . . . . . . . 29,681,435.48August 2024 . . . . . . . . 29,310,971.91September 2024 . . . . . 28,943,107.97October 2024 . . . . . . . . 28,577,826.35November 2024 . . . . . 28,215,109.87December 2024 . . . . . . 27,854,941.43January 2025 . . . . . . . 27,497,304.09February 2025 . . . . . . 27,142,180.97March 2025 . . . . . . . . . 26,789,555.34April 2025 . . . . . . . . . . 26,439,410.55May 2025 . . . . . . . . . . 26,091,730.08June 2025 . . . . . . . . . . 25,746,497.51July 2025 . . . . . . . . . . . 25,403,696.52August 2025 . . . . . . . . 25,063,310.91September 2025 . . . . . 24,725,324.58October 2025 . . . . . . . . 24,389,721.54November 2025 . . . . . 24,056,485.89December 2025 . . . . . . 23,725,601.86January 2026 . . . . . . . 23,397,053.74February 2026 . . . . . . 23,070,825.98March 2026 . . . . . . . . . 22,746,903.09April 2026 . . . . . . . . . . 22,425,269.69May 2026 . . . . . . . . . . 22,106,419.09June 2026 . . . . . . . . . . 21,791,789.69July 2026 . . . . . . . . . . . 21,481,327.70August 2026 . . . . . . . . 21,174,979.99September 2026 . . . . . 20,872,694.10October 2026 . . . . . . . . 20,574,418.20November 2026 . . . . . 20,280,101.15December 2026 . . . . . . 19,989,692.40January 2027 . . . . . . . 19,703,142.07February 2027 . . . . . . 19,420,400.89March 2027 . . . . . . . . . 19,141,420.19April 2027 . . . . . . . . . . 18,866,151.92May 2027 . . . . . . . . . . 18,594,548.64June 2027 . . . . . . . . . . 18,326,563.48

DistributionDate

PlannedBalance

July 2027 . . . . . . . . . . . $18,062,150.17August 2027 . . . . . . . . 17,801,263.02September 2027 . . . . . 17,543,856.90October 2027 . . . . . . . . 17,289,887.26November 2027 . . . . . 17,039,310.09December 2027 . . . . . . 16,792,081.93January 2028 . . . . . . . 16,548,159.88February 2028 . . . . . . 16,307,501.57March 2028 . . . . . . . . . 16,070,065.14April 2028 . . . . . . . . . . 15,835,809.30May 2028 . . . . . . . . . . 15,604,693.22June 2028 . . . . . . . . . . 15,376,676.62July 2028 . . . . . . . . . . . 15,151,719.71August 2028 . . . . . . . . 14,929,783.20September 2028 . . . . . 14,710,828.29October 2028 . . . . . . . . 14,494,816.68November 2028 . . . . . 14,281,710.54December 2028 . . . . . . 14,071,472.49January 2029 . . . . . . . 13,864,065.66February 2029 . . . . . . 13,659,453.62March 2029 . . . . . . . . . 13,457,600.40April 2029 . . . . . . . . . . 13,258,470.48May 2029 . . . . . . . . . . 13,062,028.78June 2029 . . . . . . . . . . 12,868,240.68July 2029 . . . . . . . . . . . 12,677,071.97August 2029 . . . . . . . . 12,488,488.88September 2029 . . . . . 12,302,458.08October 2029 . . . . . . . . 12,118,946.62November 2029 . . . . . 11,937,921.99December 2029 . . . . . . 11,759,352.10January 2030 . . . . . . . 11,583,205.24February 2030 . . . . . . 11,409,450.10March 2030 . . . . . . . . . 11,238,055.78April 2030 . . . . . . . . . . 11,068,991.74May 2030 . . . . . . . . . . 10,902,227.86June 2030 . . . . . . . . . . 10,737,734.38July 2030 . . . . . . . . . . . 10,575,481.91August 2030 . . . . . . . . 10,415,441.43September 2030 . . . . . 10,257,584.30October 2030 . . . . . . . . 10,101,882.22November 2030 . . . . . 9,948,307.26December 2030 . . . . . . 9,796,831.85January 2031 . . . . . . . 9,647,428.74February 2031 . . . . . . 9,500,071.05March 2031 . . . . . . . . . 9,354,732.21April 2031 . . . . . . . . . . 9,211,386.03May 2031 . . . . . . . . . . 9,070,006.60June 2031 . . . . . . . . . . 8,930,568.37July 2031 . . . . . . . . . . . 8,793,046.09August 2031 . . . . . . . . 8,657,414.86September 2031 . . . . . 8,523,650.05October 2031 . . . . . . . . 8,391,727.39November 2031 . . . . . 8,261,622.87December 2031 . . . . . . 8,133,312.81January 2032 . . . . . . . 8,006,773.83February 2032 . . . . . . 7,881,982.84

B-1

Aggregate Group I (Continued)

DistributionDate

PlannedBalance

March 2032 . . . . . . . . . $ 7,758,917.03April 2032 . . . . . . . . . . 7,637,553.90May 2032 . . . . . . . . . . 7,517,871.21June 2032 . . . . . . . . . . 7,399,847.03July 2032 . . . . . . . . . . . 7,283,459.67August 2032 . . . . . . . . 7,168,687.76September 2032 . . . . . 7,055,510.17October 2032 . . . . . . . . 6,943,906.03November 2032 . . . . . 6,833,854.76December 2032 . . . . . . 6,725,336.03January 2033 . . . . . . . 6,618,329.76February 2033 . . . . . . 6,512,816.13March 2033 . . . . . . . . . 6,408,775.58April 2033 . . . . . . . . . . 6,306,188.78May 2033 . . . . . . . . . . 6,205,036.66June 2033 . . . . . . . . . . 6,105,300.39July 2033 . . . . . . . . . . . 6,006,961.36August 2033 . . . . . . . . 5,910,001.23September 2033 . . . . . 5,814,401.86October 2033 . . . . . . . . 5,720,145.36November 2033 . . . . . 5,627,214.06December 2033 . . . . . . 5,535,590.52January 2034 . . . . . . . 5,445,257.51February 2034 . . . . . . 5,356,198.04March 2034 . . . . . . . . . 5,268,395.31April 2034 . . . . . . . . . . 5,181,832.74May 2034 . . . . . . . . . . 5,096,493.99June 2034 . . . . . . . . . . 5,012,362.88July 2034 . . . . . . . . . . . 4,929,423.47August 2034 . . . . . . . . 4,847,660.02September 2034 . . . . . 4,767,056.98October 2034 . . . . . . . . 4,687,598.99November 2034 . . . . . 4,609,270.92December 2034 . . . . . . 4,532,057.79January 2035 . . . . . . . 4,455,944.84February 2035 . . . . . . 4,380,917.49March 2035 . . . . . . . . . 4,306,961.34April 2035 . . . . . . . . . . 4,234,062.18May 2035 . . . . . . . . . . 4,162,205.99June 2035 . . . . . . . . . . 4,091,378.90July 2035 . . . . . . . . . . . 4,021,567.26August 2035 . . . . . . . . 3,952,757.55September 2035 . . . . . 3,884,936.46October 2035 . . . . . . . . 3,818,090.82November 2035 . . . . . 3,752,207.65December 2035 . . . . . . 3,687,274.12January 2036 . . . . . . . 3,623,277.58February 2036 . . . . . . 3,560,205.53March 2036 . . . . . . . . . 3,498,045.63April 2036 . . . . . . . . . . 3,436,785.71May 2036 . . . . . . . . . . 3,376,413.74June 2036 . . . . . . . . . . 3,316,917.85July 2036 . . . . . . . . . . . 3,258,286.34August 2036 . . . . . . . . 3,200,507.62September 2036 . . . . . 3,143,570.28October 2036 . . . . . . . . 3,087,463.06November 2036 . . . . . 3,032,174.83December 2036 . . . . . . 2,977,694.59January 2037 . . . . . . . 2,924,011.51

DistributionDate

PlannedBalance

February 2037 . . . . . . $ 2,871,114.89March 2037 . . . . . . . . . 2,818,994.15April 2037 . . . . . . . . . . 2,767,638.86May 2037 . . . . . . . . . . 2,717,038.74June 2037 . . . . . . . . . . 2,667,183.62July 2037 . . . . . . . . . . . 2,618,063.45August 2037 . . . . . . . . 2,569,668.35September 2037 . . . . . 2,521,988.52October 2037 . . . . . . . . 2,475,014.33November 2037 . . . . . 2,428,736.23December 2037 . . . . . . 2,383,144.84January 2038 . . . . . . . 2,338,230.87February 2038 . . . . . . 2,293,985.14March 2038 . . . . . . . . . 2,250,398.63April 2038 . . . . . . . . . . 2,207,462.40May 2038 . . . . . . . . . . 2,165,167.63June 2038 . . . . . . . . . . 2,123,505.64July 2038 . . . . . . . . . . . 2,082,467.82August 2038 . . . . . . . . 2,042,045.71September 2038 . . . . . 2,002,230.94October 2038 . . . . . . . . 1,963,015.25November 2038 . . . . . 1,924,390.49December 2038 . . . . . . 1,886,348.62January 2039 . . . . . . . 1,848,881.69February 2039 . . . . . . 1,811,981.86March 2039 . . . . . . . . . 1,775,641.39April 2039 . . . . . . . . . . 1,739,852.66May 2039 . . . . . . . . . . 1,704,608.12June 2039 . . . . . . . . . . 1,669,900.32July 2039 . . . . . . . . . . . 1,635,721.94August 2039 . . . . . . . . 1,602,065.71September 2039 . . . . . 1,568,924.48October 2039 . . . . . . . . 1,536,291.20November 2039 . . . . . 1,504,158.89December 2039 . . . . . . 1,472,520.67January 2040 . . . . . . . 1,441,369.75February 2040 . . . . . . 1,410,699.44March 2040 . . . . . . . . . 1,380,503.11April 2040 . . . . . . . . . . 1,350,774.25May 2040 . . . . . . . . . . 1,321,506.39June 2040 . . . . . . . . . . 1,292,693.20July 2040 . . . . . . . . . . . 1,264,328.39August 2040 . . . . . . . . 1,236,405.76September 2040 . . . . . 1,208,919.21October 2040 . . . . . . . . 1,181,862.69November 2040 . . . . . 1,155,230.26December 2040 . . . . . . 1,129,016.03January 2041 . . . . . . . 1,103,214.21February 2041 . . . . . . 1,077,819.07March 2041 . . . . . . . . . 1,052,824.96April 2041 . . . . . . . . . . 1,028,226.31May 2041 . . . . . . . . . . 1,004,017.61June 2041 . . . . . . . . . . 980,193.43July 2041 . . . . . . . . . . . 956,748.41August 2041 . . . . . . . . 933,677.26September 2041 . . . . . 910,974.77October 2041 . . . . . . . . 888,635.77November 2041 . . . . . 866,655.19December 2041 . . . . . . 845,028.01

DistributionDate

PlannedBalance

January 2042 . . . . . . . $ 823,749.28February 2042 . . . . . . 802,814.10March 2042 . . . . . . . . . 782,217.66April 2042 . . . . . . . . . . 761,955.21May 2042 . . . . . . . . . . 742,022.04June 2042 . . . . . . . . . . 722,413.51July 2042 . . . . . . . . . . . 703,125.06August 2042 . . . . . . . . 684,152.18September 2042 . . . . . 665,490.40October 2042 . . . . . . . . 647,135.34November 2042 . . . . . 629,082.65December 2042 . . . . . . 611,328.07January 2043 . . . . . . . 593,867.36February 2043 . . . . . . 576,696.35March 2043 . . . . . . . . . 559,810.94April 2043 . . . . . . . . . . 543,207.07May 2043 . . . . . . . . . . 526,880.74June 2043 . . . . . . . . . . 510,827.98July 2043 . . . . . . . . . . . 495,044.92August 2043 . . . . . . . . 479,527.68September 2043 . . . . . 464,272.49October 2043 . . . . . . . . 449,275.60November 2043 . . . . . 434,533.30December 2043 . . . . . . 420,041.96January 2044 . . . . . . . 405,797.97February 2044 . . . . . . 391,797.79March 2044 . . . . . . . . . 378,037.90April 2044 . . . . . . . . . . 364,514.86May 2044 . . . . . . . . . . 351,225.25June 2044 . . . . . . . . . . 338,165.72July 2044 . . . . . . . . . . . 325,332.93August 2044 . . . . . . . . 312,723.61September 2044 . . . . . 300,334.53October 2044 . . . . . . . . 288,162.50November 2044 . . . . . 276,204.37December 2044 . . . . . . 264,457.04January 2045 . . . . . . . 252,917.45February 2045 . . . . . . 241,582.58March 2045 . . . . . . . . . 230,449.43April 2045 . . . . . . . . . . 219,515.08May 2045 . . . . . . . . . . 208,776.61June 2045 . . . . . . . . . . 198,231.17July 2045 . . . . . . . . . . . 187,875.94August 2045 . . . . . . . . 177,708.11September 2045 . . . . . 167,724.95October 2045 . . . . . . . . 157,923.74November 2045 . . . . . 148,301.81December 2045 . . . . . . 138,856.52January 2046 . . . . . . . 129,585.25February 2046 . . . . . . 120,485.45March 2046 . . . . . . . . . 111,554.58April 2046 . . . . . . . . . . 102,790.13May 2046 . . . . . . . . . . 94,189.65June 2046 . . . . . . . . . . 85,750.69July 2046 . . . . . . . . . . . 77,470.86August 2046 . . . . . . . . 69,347.78September 2046 . . . . . 61,379.13October 2046 . . . . . . . . 53,562.60November 2046 . . . . . 45,895.92

B-2

Aggregate Group I (Continued)

DistributionDate

PlannedBalance

December 2046 . . . . . . $ 38,376.83January 2047 . . . . . . . 31,003.14February 2047 . . . . . . 23,772.66March 2047 . . . . . . . . . 16,683.24April 2047 . . . . . . . . . . 12,576.11

DistributionDate

PlannedBalance

May 2047 . . . . . . . . . . $ 8,549.37June 2047 . . . . . . . . . . 4,601.80July 2047 . . . . . . . . . . . 732.22August 2047 . . . . . . . . 604.01September 2047 . . . . . 478.29

DistributionDate

PlannedBalance

October 2047 . . . . . . . . $ 355.02November 2047 . . . . . 234.17December 2047 . . . . . . 115.69January 2048 and

thereafter . . . . . . . . 0.00

Aggregate Group II Planned Balances

DistributionDate

PlannedBalance

Initial Balance . . . . . . $43,314,000.00April 2018 . . . . . . . . . . 43,194,056.19May 2018 . . . . . . . . . . 43,061,743.31June 2018 . . . . . . . . . . 42,917,105.48July 2018 . . . . . . . . . . . 42,760,195.98August 2018 . . . . . . . . 42,591,077.24September 2018 . . . . . 42,409,820.79October 2018 . . . . . . . . 42,216,507.24November 2018 . . . . . 42,011,226.21December 2018 . . . . . . 41,794,076.26January 2019 . . . . . . . 41,565,164.83February 2019 . . . . . . 41,324,608.14March 2019 . . . . . . . . . 41,072,531.11April 2019 . . . . . . . . . . 40,809,067.20May 2019 . . . . . . . . . . 40,534,358.35June 2019 . . . . . . . . . . 40,248,554.82July 2019 . . . . . . . . . . . 39,951,815.02August 2019 . . . . . . . . 39,644,305.41September 2019 . . . . . 39,326,200.30October 2019 . . . . . . . . 38,997,681.70November 2019 . . . . . 38,658,939.08December 2019 . . . . . . 38,310,169.27January 2020 . . . . . . . 37,951,576.16February 2020 . . . . . . 37,583,370.57March 2020 . . . . . . . . . 37,205,769.97April 2020 . . . . . . . . . . 36,818,998.27May 2020 . . . . . . . . . . 36,423,285.59June 2020 . . . . . . . . . . 36,018,868.03July 2020 . . . . . . . . . . . 35,605,987.36August 2020 . . . . . . . . 35,196,172.55September 2020 . . . . . 34,789,398.82October 2020 . . . . . . . . 34,385,641.57November 2020 . . . . . 33,984,876.39December 2020 . . . . . . 33,587,079.05January 2021 . . . . . . . 33,192,225.51February 2021 . . . . . . 32,800,291.90March 2021 . . . . . . . . . 32,411,254.54April 2021 . . . . . . . . . . 32,025,089.93May 2021 . . . . . . . . . . 31,641,774.72June 2021 . . . . . . . . . . 31,261,285.78July 2021 . . . . . . . . . . . 30,883,600.12August 2021 . . . . . . . . 30,508,694.94September 2021 . . . . . 30,136,547.60October 2021 . . . . . . . . 29,767,135.64November 2021 . . . . . 29,400,436.76December 2021 . . . . . . 29,036,428.85January 2022 . . . . . . . 28,675,089.93February 2022 . . . . . . 28,316,398.21

DistributionDate

PlannedBalance

March 2022 . . . . . . . . . $27,960,332.07April 2022 . . . . . . . . . . 27,606,870.03May 2022 . . . . . . . . . . 27,255,990.79June 2022 . . . . . . . . . . 26,907,673.20July 2022 . . . . . . . . . . . 26,561,896.27August 2022 . . . . . . . . 26,218,639.18September 2022 . . . . . 25,877,881.24October 2022 . . . . . . . . 25,539,601.95November 2022 . . . . . 25,203,780.94December 2022 . . . . . . 24,870,397.99January 2023 . . . . . . . 24,539,433.06February 2023 . . . . . . 24,210,866.22March 2023 . . . . . . . . . 23,884,677.73April 2023 . . . . . . . . . . 23,560,847.97May 2023 . . . . . . . . . . 23,239,357.47June 2023 . . . . . . . . . . 22,920,186.93July 2023 . . . . . . . . . . . 22,603,317.16August 2023 . . . . . . . . 22,288,729.15September 2023 . . . . . 21,976,404.00October 2023 . . . . . . . . 21,666,322.97November 2023 . . . . . 21,358,467.45December 2023 . . . . . . 21,052,818.99January 2024 . . . . . . . 20,749,359.25February 2024 . . . . . . 20,448,070.05March 2024 . . . . . . . . . 20,148,933.34April 2024 . . . . . . . . . . 19,851,931.19May 2024 . . . . . . . . . . 19,557,045.83June 2024 . . . . . . . . . . 19,264,259.61July 2024 . . . . . . . . . . . 18,973,555.01August 2024 . . . . . . . . 18,684,914.63September 2024 . . . . . 18,398,663.44October 2024 . . . . . . . . 18,116,590.37November 2024 . . . . . 17,838,636.14December 2024 . . . . . . 17,564,742.30January 2025 . . . . . . . 17,294,851.21February 2025 . . . . . . 17,028,906.05March 2025 . . . . . . . . . 16,766,850.76April 2025 . . . . . . . . . . 16,508,630.10May 2025 . . . . . . . . . . 16,254,189.58June 2025 . . . . . . . . . . 16,003,475.46July 2025 . . . . . . . . . . . 15,756,434.78August 2025 . . . . . . . . 15,513,015.29September 2025 . . . . . 15,273,165.48October 2025 . . . . . . . . 15,036,834.57November 2025 . . . . . 14,803,972.48December 2025 . . . . . . 14,574,529.82January 2026 . . . . . . . 14,348,457.91February 2026 . . . . . . 14,125,708.73

DistributionDate

PlannedBalance

March 2026 . . . . . . . . . $13,906,234.94April 2026 . . . . . . . . . . 13,689,989.86May 2026 . . . . . . . . . . 13,476,927.47June 2026 . . . . . . . . . . 13,267,002.39July 2026 . . . . . . . . . . . 13,060,169.86August 2026 . . . . . . . . 12,856,385.78September 2026 . . . . . 12,655,606.62October 2026 . . . . . . . . 12,457,789.50November 2026 . . . . . 12,262,892.11December 2026 . . . . . . 12,070,872.76January 2027 . . . . . . . 11,881,690.33February 2027 . . . . . . 11,695,304.26March 2027 . . . . . . . . . 11,511,674.59April 2027 . . . . . . . . . . 11,330,761.90May 2027 . . . . . . . . . . 11,152,527.32June 2027 . . . . . . . . . . 10,976,932.53July 2027 . . . . . . . . . . . 10,803,939.75August 2027 . . . . . . . . 10,633,511.72September 2027 . . . . . 10,465,611.72October 2027 . . . . . . . . 10,300,203.53November 2027 . . . . . 10,137,251.44December 2027 . . . . . . 9,976,720.24January 2028 . . . . . . . 9,818,575.22February 2028 . . . . . . 9,662,782.15March 2028 . . . . . . . . . 9,509,307.29April 2028 . . . . . . . . . . 9,358,117.36May 2028 . . . . . . . . . . 9,209,179.56June 2028 . . . . . . . . . . 9,062,461.55July 2028 . . . . . . . . . . . 8,917,931.43August 2028 . . . . . . . . 8,775,557.77September 2028 . . . . . 8,635,309.55October 2028 . . . . . . . . 8,497,156.23November 2028 . . . . . 8,361,067.66December 2028 . . . . . . 8,227,014.13January 2029 . . . . . . . 8,094,966.35February 2029 . . . . . . 7,964,895.44March 2029 . . . . . . . . . 7,836,772.93April 2029 . . . . . . . . . . 7,710,570.73May 2029 . . . . . . . . . . 7,586,261.17June 2029 . . . . . . . . . . 7,463,816.96July 2029 . . . . . . . . . . . 7,343,211.20August 2029 . . . . . . . . 7,224,417.36September 2029 . . . . . 7,107,409.28October 2029 . . . . . . . . 6,992,161.19November 2029 . . . . . 6,878,647.65December 2029 . . . . . . 6,766,843.62January 2030 . . . . . . . 6,656,724.38February 2030 . . . . . . 6,548,265.57

B-3

Aggregate Group II (Continued)

DistributionDate

PlannedBalance

March 2030 . . . . . . . . . $ 6,441,443.18April 2030 . . . . . . . . . . 6,336,233.52May 2030 . . . . . . . . . . 6,232,613.25June 2030 . . . . . . . . . . 6,130,559.36July 2030 . . . . . . . . . . . 6,030,049.16August 2030 . . . . . . . . 5,931,060.27September 2030 . . . . . 5,833,570.66October 2030 . . . . . . . . 5,737,558.57November 2030 . . . . . 5,643,002.56December 2030 . . . . . . 5,549,881.52January 2031 . . . . . . . 5,458,174.60February 2031 . . . . . . 5,367,861.28March 2031 . . . . . . . . . 5,278,921.29April 2031 . . . . . . . . . . 5,191,334.68May 2031 . . . . . . . . . . 5,105,081.78June 2031 . . . . . . . . . . 5,020,143.17July 2031 . . . . . . . . . . . 4,936,499.75August 2031 . . . . . . . . 4,854,132.64September 2031 . . . . . 4,773,023.27October 2031 . . . . . . . . 4,693,153.30November 2031 . . . . . 4,614,504.69December 2031 . . . . . . 4,537,059.61January 2032 . . . . . . . 4,460,800.51February 2032 . . . . . . 4,385,710.09March 2032 . . . . . . . . . 4,311,771.28April 2032 . . . . . . . . . . 4,238,967.26May 2032 . . . . . . . . . . 4,167,281.45June 2032 . . . . . . . . . . 4,096,697.52July 2032 . . . . . . . . . . . 4,027,199.34August 2032 . . . . . . . . 3,958,771.03September 2032 . . . . . 3,891,396.93October 2032 . . . . . . . . 3,825,061.61November 2032 . . . . . 3,759,749.84December 2032 . . . . . . 3,695,446.64January 2033 . . . . . . . 3,632,137.21February 2033 . . . . . . 3,569,806.97March 2033 . . . . . . . . . 3,508,441.56April 2033 . . . . . . . . . . 3,448,026.82May 2033 . . . . . . . . . . 3,388,548.77June 2033 . . . . . . . . . . 3,329,993.66July 2033 . . . . . . . . . . . 3,272,347.91August 2033 . . . . . . . . 3,215,598.16September 2033 . . . . . 3,159,731.21October 2033 . . . . . . . . 3,104,734.08November 2033 . . . . . 3,050,593.95December 2033 . . . . . . 2,997,298.19January 2034 . . . . . . . 2,944,834.36February 2034 . . . . . . 2,893,190.18March 2034 . . . . . . . . . 2,842,353.56April 2034 . . . . . . . . . . 2,792,312.59May 2034 . . . . . . . . . . 2,743,055.50June 2034 . . . . . . . . . . 2,694,570.71July 2034 . . . . . . . . . . . 2,646,846.80August 2034 . . . . . . . . 2,599,872.53September 2034 . . . . . 2,553,636.78October 2034 . . . . . . . . 2,508,128.64November 2034 . . . . . 2,463,337.32December 2034 . . . . . . 2,419,252.20January 2035 . . . . . . . 2,375,862.79

DistributionDate

PlannedBalance

February 2035 . . . . . . $ 2,333,158.79March 2035 . . . . . . . . . 2,291,130.02April 2035 . . . . . . . . . . 2,249,766.44May 2035 . . . . . . . . . . 2,209,058.17June 2035 . . . . . . . . . . 2,168,995.48July 2035 . . . . . . . . . . . 2,129,568.75August 2035 . . . . . . . . 2,090,768.52September 2035 . . . . . 2,052,585.46October 2035 . . . . . . . . 2,015,010.37November 2035 . . . . . 1,978,034.20December 2035 . . . . . . 1,941,648.00January 2036 . . . . . . . 1,905,842.97February 2036 . . . . . . 1,870,610.44March 2036 . . . . . . . . . 1,835,941.85April 2036 . . . . . . . . . . 1,801,828.77May 2036 . . . . . . . . . . 1,768,262.88June 2036 . . . . . . . . . . 1,735,236.01July 2036 . . . . . . . . . . . 1,702,740.08August 2036 . . . . . . . . 1,670,767.13September 2036 . . . . . 1,639,309.32October 2036 . . . . . . . . 1,608,358.93November 2036 . . . . . 1,577,908.33December 2036 . . . . . . 1,547,950.03January 2037 . . . . . . . 1,518,476.63February 2037 . . . . . . 1,489,480.82March 2037 . . . . . . . . . 1,460,955.43April 2037 . . . . . . . . . . 1,432,893.38May 2037 . . . . . . . . . . 1,405,287.68June 2037 . . . . . . . . . . 1,378,131.46July 2037 . . . . . . . . . . . 1,351,417.93August 2037 . . . . . . . . 1,325,140.42September 2037 . . . . . 1,299,292.34October 2037 . . . . . . . . 1,273,867.20November 2037 . . . . . 1,248,858.61December 2037 . . . . . . 1,224,260.26January 2038 . . . . . . . 1,200,065.94February 2038 . . . . . . 1,176,269.53March 2038 . . . . . . . . . 1,152,864.99April 2038 . . . . . . . . . . 1,129,846.39May 2038 . . . . . . . . . . 1,107,207.87June 2038 . . . . . . . . . . 1,084,943.64July 2038 . . . . . . . . . . . 1,063,048.03August 2038 . . . . . . . . 1,041,515.41September 2038 . . . . . 1,020,340.28October 2038 . . . . . . . . 999,517.18November 2038 . . . . . 979,040.74December 2038 . . . . . . 958,905.69January 2039 . . . . . . . 939,106.80February 2039 . . . . . . 919,638.94March 2039 . . . . . . . . . 900,497.06April 2039 . . . . . . . . . . 881,676.16May 2039 . . . . . . . . . . 863,171.34June 2039 . . . . . . . . . . 844,977.74July 2039 . . . . . . . . . . . 827,090.61August 2039 . . . . . . . . 809,505.23September 2039 . . . . . 792,216.98October 2039 . . . . . . . . 775,221.28November 2039 . . . . . 758,513.65December 2039 . . . . . . 742,089.65

DistributionDate

PlannedBalance

January 2040 . . . . . . . $ 725,944.90February 2040 . . . . . . 710,075.11March 2040 . . . . . . . . . 694,476.04April 2040 . . . . . . . . . . 679,143.50May 2040 . . . . . . . . . . 664,073.38June 2040 . . . . . . . . . . 649,261.63July 2040 . . . . . . . . . . . 634,704.24August 2040 . . . . . . . . 620,397.27September 2040 . . . . . 606,336.85October 2040 . . . . . . . . 592,519.15November 2040 . . . . . 578,940.40December 2040 . . . . . . 565,596.89January 2041 . . . . . . . 552,484.96February 2041 . . . . . . 539,601.01March 2041 . . . . . . . . . 526,941.49April 2041 . . . . . . . . . . 514,502.90May 2041 . . . . . . . . . . 502,281.79June 2041 . . . . . . . . . . 490,274.76July 2041 . . . . . . . . . . . 478,478.47August 2041 . . . . . . . . 466,889.63September 2041 . . . . . 455,504.98October 2041 . . . . . . . . 444,321.32November 2041 . . . . . 433,335.50December 2041 . . . . . . 422,544.42January 2042 . . . . . . . 411,945.02February 2042 . . . . . . 401,534.27March 2042 . . . . . . . . . 391,309.22April 2042 . . . . . . . . . . 381,266.93May 2042 . . . . . . . . . . 371,404.52June 2042 . . . . . . . . . . 361,719.15July 2042 . . . . . . . . . . . 352,208.02August 2042 . . . . . . . . 342,868.38September 2042 . . . . . 333,697.51October 2042 . . . . . . . . 324,692.74November 2042 . . . . . 315,851.43December 2042 . . . . . . 307,170.98January 2043 . . . . . . . 298,648.84February 2043 . . . . . . 290,282.49March 2043 . . . . . . . . . 282,069.44April 2043 . . . . . . . . . . 274,007.26May 2043 . . . . . . . . . . 266,093.52June 2043 . . . . . . . . . . 258,325.87July 2043 . . . . . . . . . . . 250,701.96August 2043 . . . . . . . . 243,219.50September 2043 . . . . . 235,876.20October 2043 . . . . . . . . 228,669.85November 2043 . . . . . 221,598.24December 2043 . . . . . . 214,659.20January 2044 . . . . . . . 207,850.60February 2044 . . . . . . 201,170.33March 2044 . . . . . . . . . 194,616.33April 2044 . . . . . . . . . . 188,186.56May 2044 . . . . . . . . . . 181,878.99June 2044 . . . . . . . . . . 175,691.67July 2044 . . . . . . . . . . . 169,622.63August 2044 . . . . . . . . 163,669.95September 2044 . . . . . 157,831.75October 2044 . . . . . . . . 152,106.16November 2044 . . . . . 146,491.35

B-4

Aggregate Group II (Continued)

DistributionDate

PlannedBalance

December 2044 . . . . . . $ 140,985.51January 2045 . . . . . . . 135,586.86February 2045 . . . . . . 130,293.65March 2045 . . . . . . . . . 125,104.15April 2045 . . . . . . . . . . 120,016.66May 2045 . . . . . . . . . . 115,029.51June 2045 . . . . . . . . . . 110,141.05July 2045 . . . . . . . . . . . 105,349.65August 2045 . . . . . . . . 100,653.71September 2045 . . . . . 96,051.67October 2045 . . . . . . . . 91,541.96November 2045 . . . . . 87,123.06December 2045 . . . . . . 82,793.47

DistributionDate

PlannedBalance

January 2046 . . . . . . . $ 78,551.70February 2046 . . . . . . 74,396.30March 2046 . . . . . . . . . 70,325.83April 2046 . . . . . . . . . . 66,338.87May 2046 . . . . . . . . . . 62,434.03June 2046 . . . . . . . . . . 58,609.93July 2046 . . . . . . . . . . . 54,865.24August 2046 . . . . . . . . 51,198.61September 2046 . . . . . 47,608.74October 2046 . . . . . . . . 44,094.33November 2046 . . . . . 40,654.13December 2046 . . . . . . 37,286.86January 2047 . . . . . . . 33,991.32

DistributionDate

PlannedBalance

February 2047 . . . . . . $ 30,766.27March 2047 . . . . . . . . . 27,610.53April 2047 . . . . . . . . . . 24,522.93May 2047 . . . . . . . . . . 21,502.30June 2047 . . . . . . . . . . 18,547.50July 2047 . . . . . . . . . . . 15,657.42August 2047 . . . . . . . . 12,830.94September 2047 . . . . . 10,066.99October 2047 . . . . . . . . 7,364.48November 2047 . . . . . 4,722.37December 2047 . . . . . . 2,139.62January 2048 and

thereafter . . . . . . . . 0.00

Aggregate Group III Planned Balances

DistributionDate

PlannedBalance

Initial Balance . . . . . . $98,129,716.00April 2018 . . . . . . . . . . 97,865,574.81May 2018 . . . . . . . . . . 97,575,614.42June 2018 . . . . . . . . . . 97,259,917.56July 2018 . . . . . . . . . . . 96,918,584.08August 2018 . . . . . . . . 96,551,730.95September 2018 . . . . . 96,159,492.17October 2018 . . . . . . . . 95,742,018.71November 2018 . . . . . 95,299,478.43December 2018 . . . . . . 94,832,055.96January 2019 . . . . . . . 94,339,952.56February 2019 . . . . . . 93,823,386.00March 2019 . . . . . . . . . 93,282,590.38April 2019 . . . . . . . . . . 92,717,815.93May 2019 . . . . . . . . . . 92,129,328.81June 2019 . . . . . . . . . . 91,517,410.91July 2019 . . . . . . . . . . . 90,882,359.60August 2019 . . . . . . . . 90,224,487.45September 2019 . . . . . 89,544,121.99October 2019 . . . . . . . . 88,841,605.37November 2019 . . . . . 88,117,294.11December 2019 . . . . . . 87,371,558.72January 2020 . . . . . . . 86,604,783.38February 2020 . . . . . . 85,817,365.60March 2020 . . . . . . . . . 85,009,715.80April 2020 . . . . . . . . . . 84,182,256.97May 2020 . . . . . . . . . . 83,335,424.25June 2020 . . . . . . . . . . 82,469,664.48July 2020 . . . . . . . . . . . 81,585,435.83August 2020 . . . . . . . . 80,683,207.33September 2020 . . . . . 79,784,668.66October 2020 . . . . . . . . 78,892,015.27November 2020 . . . . . 78,005,203.74December 2020 . . . . . . 77,124,190.94January 2021 . . . . . . . 76,248,934.05February 2021 . . . . . . 75,379,390.51March 2021 . . . . . . . . . 74,515,518.08April 2021 . . . . . . . . . . 73,657,274.76May 2021 . . . . . . . . . . 72,804,618.86June 2021 . . . . . . . . . . 71,957,508.95

DistributionDate

PlannedBalance

July 2021 . . . . . . . . . . . $71,115,903.90August 2021 . . . . . . . . 70,279,762.83September 2021 . . . . . 69,449,045.15October 2021 . . . . . . . . 68,623,710.52November 2021 . . . . . 67,803,718.89December 2021 . . . . . . 66,989,030.48January 2022 . . . . . . . 66,179,605.75February 2022 . . . . . . 65,375,405.44March 2022 . . . . . . . . . 64,576,390.56April 2022 . . . . . . . . . . 63,782,522.36May 2022 . . . . . . . . . . 62,993,762.36June 2022 . . . . . . . . . . 62,210,072.33July 2022 . . . . . . . . . . . 61,431,414.30August 2022 . . . . . . . . 60,657,750.56September 2022 . . . . . 59,889,043.63October 2022 . . . . . . . . 59,125,256.29November 2022 . . . . . 58,366,351.58December 2022 . . . . . . 57,612,292.77January 2023 . . . . . . . 56,863,043.37February 2023 . . . . . . 56,118,567.15March 2023 . . . . . . . . . 55,378,828.10April 2023 . . . . . . . . . . 54,643,790.48May 2023 . . . . . . . . . . 53,913,418.75June 2023 . . . . . . . . . . 53,187,677.63July 2023 . . . . . . . . . . . 52,466,532.06August 2023 . . . . . . . . 51,749,947.24September 2023 . . . . . 51,037,888.57October 2023 . . . . . . . . 50,330,321.68November 2023 . . . . . 49,627,212.45December 2023 . . . . . . 48,928,526.97January 2024 . . . . . . . 48,234,231.57February 2024 . . . . . . 47,544,292.78March 2024 . . . . . . . . . 46,858,677.36April 2024 . . . . . . . . . . 46,177,352.30May 2024 . . . . . . . . . . 45,500,284.80June 2024 . . . . . . . . . . 44,827,442.29July 2024 . . . . . . . . . . . 44,158,792.38August 2024 . . . . . . . . 43,494,302.94September 2024 . . . . . 42,833,942.02October 2024 . . . . . . . . 42,177,677.90

DistributionDate

PlannedBalance

November 2024 . . . . . $41,525,479.05December 2024 . . . . . . 40,882,211.92January 2025 . . . . . . . 40,248,431.60February 2025 . . . . . . 39,624,002.26March 2025 . . . . . . . . . 39,008,789.99April 2025 . . . . . . . . . . 38,402,662.76May 2025 . . . . . . . . . . 37,805,490.37June 2025 . . . . . . . . . . 37,217,144.50July 2025 . . . . . . . . . . . 36,637,498.58August 2025 . . . . . . . . 36,066,427.86September 2025 . . . . . 35,503,809.32October 2025 . . . . . . . . 34,949,521.68November 2025 . . . . . 34,403,445.37December 2025 . . . . . . 33,865,462.50January 2026 . . . . . . . 33,335,456.83February 2026 . . . . . . 32,813,313.76March 2026 . . . . . . . . . 32,298,920.31April 2026 . . . . . . . . . . 31,792,165.08May 2026 . . . . . . . . . . 31,292,938.26June 2026 . . . . . . . . . . 30,801,131.56July 2026 . . . . . . . . . . . 30,316,638.24August 2026 . . . . . . . . 29,839,353.04September 2026 . . . . . 29,369,172.20October 2026 . . . . . . . . 28,905,993.42November 2026 . . . . . 28,449,715.85December 2026 . . . . . . 28,000,240.03January 2027 . . . . . . . 27,557,467.95February 2027 . . . . . . 27,121,302.94March 2027 . . . . . . . . . 26,691,649.73April 2027 . . . . . . . . . . 26,268,414.37May 2027 . . . . . . . . . . 25,851,504.25June 2027 . . . . . . . . . . 25,440,828.05July 2027 . . . . . . . . . . . 25,036,295.76August 2027 . . . . . . . . 24,637,818.63September 2027 . . . . . 24,245,309.16October 2027 . . . . . . . . 23,858,681.11November 2027 . . . . . 23,477,849.44December 2027 . . . . . . 23,102,730.30January 2028 . . . . . . . 22,733,241.05February 2028 . . . . . . 22,369,300.20

B-5

Aggregate Group III (Continued)

DistributionDate

PlannedBalance

March 2028 . . . . . . . . . $22,010,827.44April 2028 . . . . . . . . . . 21,657,743.56May 2028 . . . . . . . . . . 21,309,970.50June 2028 . . . . . . . . . . 20,967,431.30July 2028 . . . . . . . . . . . 20,630,050.06August 2028 . . . . . . . . 20,297,752.00September 2028 . . . . . 19,970,463.38October 2028 . . . . . . . . 19,648,111.48November 2028 . . . . . 19,330,624.66December 2028 . . . . . . 19,017,932.25January 2029 . . . . . . . 18,709,964.61February 2029 . . . . . . 18,406,653.08March 2029 . . . . . . . . . 18,107,929.96April 2029 . . . . . . . . . . 17,813,728.54May 2029 . . . . . . . . . . 17,523,983.02June 2029 . . . . . . . . . . 17,238,628.57July 2029 . . . . . . . . . . . 16,957,601.25August 2029 . . . . . . . . 16,680,838.05September 2029 . . . . . 16,408,276.84October 2029 . . . . . . . . 16,139,856.39November 2029 . . . . . 15,875,516.32December 2029 . . . . . . 15,615,197.12January 2030 . . . . . . . 15,358,840.13February 2030 . . . . . . 15,106,387.50March 2030 . . . . . . . . . 14,857,782.24April 2030 . . . . . . . . . . 14,612,968.14May 2030 . . . . . . . . . . 14,371,889.80June 2030 . . . . . . . . . . 14,134,492.61July 2030 . . . . . . . . . . . 13,900,722.75August 2030 . . . . . . . . 13,670,527.14September 2030 . . . . . 13,443,853.48October 2030 . . . . . . . . 13,220,650.19November 2030 . . . . . 13,000,866.45December 2030 . . . . . . 12,784,452.16January 2031 . . . . . . . 12,571,357.92February 2031 . . . . . . 12,361,535.05March 2031 . . . . . . . . . 12,154,935.55April 2031 . . . . . . . . . . 11,951,512.11May 2031 . . . . . . . . . . 11,751,218.11June 2031 . . . . . . . . . . 11,554,007.58July 2031 . . . . . . . . . . . 11,359,835.21August 2031 . . . . . . . . 11,168,656.33September 2031 . . . . . 10,980,426.93October 2031 . . . . . . . . 10,795,103.60November 2031 . . . . . 10,612,643.57December 2031 . . . . . . 10,433,004.68January 2032 . . . . . . . 10,256,145.37February 2032 . . . . . . 10,082,024.67March 2032 . . . . . . . . . 9,910,602.20April 2032 . . . . . . . . . . 9,741,838.17May 2032 . . . . . . . . . . 9,575,693.34June 2032 . . . . . . . . . . 9,412,129.04July 2032 . . . . . . . . . . . 9,251,107.15August 2032 . . . . . . . . 9,092,590.11September 2032 . . . . . 8,936,540.89October 2032 . . . . . . . . 8,782,922.98November 2032 . . . . . 8,631,700.42December 2032 . . . . . . 8,482,837.73January 2033 . . . . . . . 8,336,299.97

DistributionDate

PlannedBalance

February 2033 . . . . . . $ 8,192,052.70March 2033 . . . . . . . . . 8,050,061.94April 2033 . . . . . . . . . . 7,910,294.25May 2033 . . . . . . . . . . 7,772,716.63June 2033 . . . . . . . . . . 7,637,296.56July 2033 . . . . . . . . . . . 7,504,002.02August 2033 . . . . . . . . 7,372,801.40September 2033 . . . . . 7,243,663.58October 2033 . . . . . . . . 7,116,557.89November 2033 . . . . . 6,991,454.07December 2033 . . . . . . 6,868,322.33January 2034 . . . . . . . 6,747,133.29February 2034 . . . . . . 6,627,858.00March 2034 . . . . . . . . . 6,510,467.91April 2034 . . . . . . . . . . 6,394,934.92May 2034 . . . . . . . . . . 6,281,231.30June 2034 . . . . . . . . . . 6,169,329.73July 2034 . . . . . . . . . . . 6,059,203.29August 2034 . . . . . . . . 5,950,825.44September 2034 . . . . . 5,844,170.03October 2034 . . . . . . . . 5,739,211.28November 2034 . . . . . 5,635,923.80December 2034 . . . . . . 5,534,282.54January 2035 . . . . . . . 5,434,262.84February 2035 . . . . . . 5,335,840.38March 2035 . . . . . . . . . 5,238,991.19April 2035 . . . . . . . . . . 5,143,691.65May 2035 . . . . . . . . . . 5,049,918.49June 2035 . . . . . . . . . . 4,957,648.77July 2035 . . . . . . . . . . . 4,866,859.88August 2035 . . . . . . . . 4,777,529.55September 2035 . . . . . 4,689,635.81October 2035 . . . . . . . . 4,603,157.03November 2035 . . . . . 4,518,071.88December 2035 . . . . . . 4,434,359.35January 2036 . . . . . . . 4,351,998.74February 2036 . . . . . . 4,270,969.62March 2036 . . . . . . . . . 4,191,251.89April 2036 . . . . . . . . . . 4,112,825.73May 2036 . . . . . . . . . . 4,035,671.61June 2036 . . . . . . . . . . 3,959,770.27July 2036 . . . . . . . . . . . 3,885,102.75August 2036 . . . . . . . . 3,811,650.35September 2036 . . . . . 3,739,394.67October 2036 . . . . . . . . 3,668,317.53November 2036 . . . . . 3,598,401.06December 2036 . . . . . . 3,529,627.63January 2037 . . . . . . . 3,461,979.87February 2037 . . . . . . 3,395,440.67March 2037 . . . . . . . . . 3,329,993.14April 2037 . . . . . . . . . . 3,265,620.68May 2037 . . . . . . . . . . 3,202,306.91June 2037 . . . . . . . . . . 3,140,035.69July 2037 . . . . . . . . . . . 3,078,791.10August 2037 . . . . . . . . 3,018,557.49September 2037 . . . . . 2,959,319.41October 2037 . . . . . . . . 2,901,061.65November 2037 . . . . . 2,843,769.20December 2037 . . . . . . 2,787,427.31

DistributionDate

PlannedBalance

January 2038 . . . . . . . $ 2,732,021.40February 2038 . . . . . . 2,677,537.14March 2038 . . . . . . . . . 2,623,960.39April 2038 . . . . . . . . . . 2,571,277.23May 2038 . . . . . . . . . . 2,519,473.93June 2038 . . . . . . . . . . 2,468,536.97July 2038 . . . . . . . . . . . 2,418,453.03August 2038 . . . . . . . . 2,369,208.98September 2038 . . . . . 2,320,791.89October 2038 . . . . . . . . 2,273,189.02November 2038 . . . . . 2,226,387.80December 2038 . . . . . . 2,180,375.86January 2039 . . . . . . . 2,135,141.02February 2039 . . . . . . 2,090,671.27March 2039 . . . . . . . . . 2,046,954.77April 2039 . . . . . . . . . . 2,003,979.85May 2039 . . . . . . . . . . 1,961,735.05June 2039 . . . . . . . . . . 1,920,209.02July 2039 . . . . . . . . . . . 1,879,390.64August 2039 . . . . . . . . 1,839,268.90September 2039 . . . . . 1,799,832.99October 2039 . . . . . . . . 1,761,072.24November 2039 . . . . . 1,722,976.15December 2039 . . . . . . 1,685,534.35January 2040 . . . . . . . 1,648,736.66February 2040 . . . . . . 1,612,573.03March 2040 . . . . . . . . . 1,577,033.56April 2040 . . . . . . . . . . 1,542,108.50May 2040 . . . . . . . . . . 1,507,788.24June 2040 . . . . . . . . . . 1,474,063.31July 2040 . . . . . . . . . . . 1,440,924.39August 2040 . . . . . . . . 1,408,362.30September 2040 . . . . . 1,376,367.99October 2040 . . . . . . . . 1,344,932.53November 2040 . . . . . 1,314,047.16December 2040 . . . . . . 1,283,703.20January 2041 . . . . . . . 1,253,892.16February 2041 . . . . . . 1,224,605.61March 2041 . . . . . . . . . 1,195,835.30April 2041 . . . . . . . . . . 1,167,573.08May 2041 . . . . . . . . . . 1,139,810.92June 2041 . . . . . . . . . . 1,112,540.91July 2041 . . . . . . . . . . . 1,085,755.26August 2041 . . . . . . . . 1,059,446.30September 2041 . . . . . 1,033,606.48October 2041 . . . . . . . . 1,008,228.34November 2041 . . . . . 983,304.56December 2041 . . . . . . 958,827.91January 2042 . . . . . . . 934,791.26February 2042 . . . . . . 911,187.63March 2042 . . . . . . . . . 888,010.09April 2042 . . . . . . . . . . 865,251.85May 2042 . . . . . . . . . . 842,906.21June 2042 . . . . . . . . . . 820,966.57July 2042 . . . . . . . . . . . 799,426.43August 2042 . . . . . . . . 778,279.39September 2042 . . . . . 757,519.15October 2042 . . . . . . . . 737,139.49November 2042 . . . . . 717,134.30

B-6

Aggregate Group III (Continued)

DistributionDate

PlannedBalance

December 2042 . . . . . . $ 697,497.55January 2043 . . . . . . . 678,223.31February 2043 . . . . . . 659,305.73March 2043 . . . . . . . . . 640,739.06April 2043 . . . . . . . . . . 622,517.62May 2043 . . . . . . . . . . 604,635.83June 2043 . . . . . . . . . . 587,088.20July 2043 . . . . . . . . . . . 569,869.31August 2043 . . . . . . . . 552,973.81September 2043 . . . . . 536,396.46October 2043 . . . . . . . . 520,132.09November 2043 . . . . . 504,175.59December 2043 . . . . . . 488,521.95January 2044 . . . . . . . 473,166.23February 2044 . . . . . . 458,103.55March 2044 . . . . . . . . . 443,329.13April 2044 . . . . . . . . . . 428,838.25May 2044 . . . . . . . . . . 414,626.25June 2044 . . . . . . . . . . 400,688.55July 2044 . . . . . . . . . . . 387,020.66August 2044 . . . . . . . . 373,618.12September 2044 . . . . . 360,476.57

DistributionDate

PlannedBalance

October 2044 . . . . . . . . $ 347,591.70November 2044 . . . . . 334,959.28December 2044 . . . . . . 322,575.12January 2045 . . . . . . . 310,435.12February 2045 . . . . . . 298,535.23March 2045 . . . . . . . . . 286,871.45April 2045 . . . . . . . . . . 275,439.88May 2045 . . . . . . . . . . 264,236.64June 2045 . . . . . . . . . . 253,257.93July 2045 . . . . . . . . . . . 242,499.99August 2045 . . . . . . . . 231,959.15September 2045 . . . . . 221,631.76October 2045 . . . . . . . . 211,514.25November 2045 . . . . . 201,603.10December 2045 . . . . . . 191,894.85January 2046 . . . . . . . 182,386.07February 2046 . . . . . . 173,073.40March 2046 . . . . . . . . . 163,953.54April 2046 . . . . . . . . . . 155,023.23May 2046 . . . . . . . . . . 146,279.25June 2046 . . . . . . . . . . 137,718.46July 2046 . . . . . . . . . . . 129,337.74

DistributionDate

PlannedBalance

August 2046 . . . . . . . . $ 121,134.02September 2046 . . . . . 113,104.30October 2046 . . . . . . . . 105,245.61November 2046 . . . . . 97,555.03December 2046 . . . . . . 90,029.68January 2047 . . . . . . . 82,666.73February 2047 . . . . . . 75,463.39March 2047 . . . . . . . . . 68,416.93April 2047 . . . . . . . . . . 61,524.63May 2047 . . . . . . . . . . 54,783.85June 2047 . . . . . . . . . . 48,191.96July 2047 . . . . . . . . . . . 41,746.38August 2047 . . . . . . . . 35,444.59September 2047 . . . . . 29,284.09October 2047 . . . . . . . . 23,262.41November 2047 . . . . . 17,377.15December 2047 . . . . . . 11,625.92January 2048 . . . . . . . 6,006.37February 2048 . . . . . . 516.21March 2048 and

thereafter . . . . . . . . 0.00

B-7

No one is authorized to give information or tomake representations in connection with the Cer-tificates other than the information and repre-sentations contained in or incorporated into thisProspectus Supplement and the additional Dis-closure Documents. We take no responsibility forany unauthorized information or representation.This Prospectus Supplement and the additionalDisclosure Documents do not constitute an offeror solicitation with regard to the Certificates if it isillegal to make such an offer or solicitation to youunder state law. By delivering this ProspectusSupplement and the additional Disclosure Docu-ments at any time, no one implies that theinformation contained herein or therein is correctafter the date hereof or thereof.

Neither the Securities and Exchange Commis-sion nor any state securities commission hasapproved or disapproved the Certificates ordetermined if this Prospectus Supplement is truth-ful and complete. Any representation to the con-trary is a criminal offense.

TABLE OF CONTENTS

Page

Table of Contents . . . . . . . . . . . . . . . . . . . . . . . S- 2

Available Information . . . . . . . . . . . . . . . . . . . . S- 3

Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S- 5

Additional Risk Factors . . . . . . . . . . . . . . . . . . . S- 9

Description of the Certificates . . . . . . . . . . . . . S-10

Certain Additional Federal Income TaxConsequences . . . . . . . . . . . . . . . . . . . . . . . . . S-25

Additional ERISA Considerations . . . . . . . . . . S-28

Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . S-29

Credit Risk Retention . . . . . . . . . . . . . . . . . . . . S-29

European Economic Area Risk Retention . . . S-29

Legal Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . S-31

Exhibit A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A- 1

Schedule 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A- 3

Principal Balance Schedules . . . . . . . . . . . . . . . B- 1

$484,017,546

Guaranteed REMICPass-Through Certificates

Fannie Mae REMIC Trust 2018-25

PROSPECTUS SUPPLEMENT

J.P. Morgan

March 23, 2018

(To REMIC Prospectus dated June 1, 2014) $484,017,546 · 1 Group 1 MBS 2 Group 2 MBS 3 Group 3 MBS...

Documents

Transcript of (To REMIC Prospectus dated June 1, 2014) $484,017,546 · 1 Group 1 MBS 2 Group 2 MBS 3 Group 3 MBS...