(To REMIC Prospectus dated June 1, 2014) $1,047,653,887 · 2019. 7. 13. · (To REMIC Prospectus dated June 1, 2014) $1,047,653,887 Guaranteed REMIC Pass-Through Certificates

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

$1,047,653,887

Guaranteed REMIC Pass-Through CertificatesFannie Mae REMIC Trust 2014-61

The Certificates

We, the Federal National Mortgage Associa-tion (Fannie Mae), will issue the classes ofcertificates listed in the chart on this cover.

Payments to Certificateholders

We will make monthly payments on the cer-tificates. You, the investor, will receive

• interest accrued on the balance of yourcertificate (except in the case of theaccrual classes), and

• principal to the extent available for pay-ment on your class.

We will pay principal at rates that may varyfrom time to time. We may not pay principalto certain classes for long periods of time.

The Fannie Mae Guaranty

We will guarantee that required payments ofprincipal and interest on the certificates areavailable for distribution to investors on time.

The Trust and its Assets

The trust will own

• underlying REMIC and RCR certificatesbacked by Fannie Mae MBS,

• Fannie Mae MBS backed by first lien,single-family fixed-rate loans, and

• Fannie Mae MBS backed by first lien,single-family adjustable-rate loans.

The mortgage loans backing the underlyingREMIC and RCR certificates are first lien,single-family, fixed-rate loans.

Class Group

OriginalClass

BalancePrincipalType(1)

InterestRate

InterestType(1)

CUSIPNumber

FinalDistribution

Date

E . . . . . 1 $10,050,000 SC/PT 3.00% FIX 3136ALFL0 October 2033

PG . . . . . 2 67,967,000 PAC/AD 3.50 FIX 3136ALFM8 April 2044PY . . . . . 2 3,123,000 PAC/AD 3.50 FIX 3136ALFN6 October 2044Z . . . . . 2 16,500,000 SUP 3.50 FIX/Z 3136AL F P 1 October 2044FK . . . . . 2 35,036,000 PT (2) FLT 3136ALFQ9 October 2044SK . . . . . 2 35,036,000(3) NTL (2) INV/IO 3136ALFR7 October 2044

DY . . . . . 3 3,906,608 SC/PT (2) INV 3136AL F S 5 March 2043DX . . . . . 3 862,020 SC/PT (2) INV 3136ALFT3 March 2043

DS . . . . . 4 1,486,581 SC/SEQ (2) INV 3136ALFU0 November 2042SD . . . . . 4 3,468,688 SC/SEQ (2) INV 3136ALFV8 November 2042DT . . . . . 4 841,460 SC/PT (2) INV 3136ALFW6 November 2042

FA . . . . . 5 253,820,679 PT (4) FLT/AFC 3136ALFX4 October 2044SA . . . . . 5 253,820,679(3) NTL (5) WAC/IO 3136ALFY2 October 2044

AB . . . . . 6 25,071,000 SEQ 4.00 FIX 3136ALFZ9 May 2043AV . . . . . 6 1,217,000 SEQ/AD 4.00 FIX 3136ALGA3 August 2027ZA . . . . . 6 1,819,046 SEQ 4.00 FIX/Z 3136ALGB1 October 2044

(Table continued on next page)

If you own certificates of certain classes, you can exchange them for certificates of the corre-sponding RCR classes to be delivered at the time of exchange. The MK, ML, MN, MQ, SX,PE, PT, PH, PI, PQ, PJ, PU, PK, IP, PN, P, PL, PM, IM, JP, KQ and MP Classes are theRCR classes. For a more detailed description of the RCR classes, see Schedule 1 attached tothis prospectus supplement and “Description of the Certificates—Combination andRecombination—RCR Certificates” in the REMIC prospectus.

The dealer will offer the certificates (other than the FA Class and the portion of the SA Classspecified below) from time to time in negotiated transactions at varying prices. We expectthe settlement date to be September 30, 2014. Fannie Mae initially will retain the FA Classand $153,820,679 initial notional principal amount of the SA Class. See “Plan of Dis-tribution” in this prospectus supplement.

Carefully consider the risk factors on page S-9 of this prospectus supplement and starting on page 14 of the REMIC prospectus.Unless you understand and are able to tolerate these risks, you should not 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 a debt or obligation of theUnited 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” under the SecuritiesExchange Act of 1934.

The date of this Prospectus Supplement is September 24, 2014

Class Group

OriginalClass

BalancePrincipalType(1)

InterestRate

InterestType(1)

CUSIPNumber

FinalDistribution

Date

HK . . . . . 7 $187,742,448 SEQ 3.00% FIX 3136ALGC9 October 2040VA . . . . . 7 14,409,000 SEQ/AD 3.00 FIX 3136ALGD7 February 2026VB . . . . . 7 11,893,000 SEQ/AD 3.00 FIX 3136ALGE5 March 2033ZV . . . . . 7 35,800,417 SEQ 3.00 FIX/Z 3136ALGF2 October 2044

M(6) . . . . 8 20,806,695 PT 2.25 FIX 3136ALGG0 October 2044MF(6) . . . 8 67,621,757 PT (2) FLT 3136ALGH8 October 2044MS(6) . . . 8 67,621,757(3) NTL (2) INV/IO 3136AL G J 4 October 2044

PO . . . . . 9 10,187,000 SC/PT 0.00 PO 3136ALGK1 May 2043AS(6) . . . . 9 3,056,100 SC/SEQ (2) INV 3136ALGL9 May 2043BS(6) . . . . 9 7,130,899 SC/SEQ (2) INV 3136ALGM7 May 2043

IO . . . . . 10 32,979,686(3) NTL 4.00 FIX/IO 3136ALGN5 October 2044PA(6) . . . . 10 151,174,000 PAC 3.50 FIX 3136ALGP0 November 2041PB(6) . . . . 10 13,962,000 PAC 3.50 FIX 3136ALGQ8 January 2043PC(6) . . . . 10 20,779,000 PAC 3.50 FIX 3136ALGR6 July 2044PD(6) . . . . 10 3,664,000 PAC 3.50 FIX 3136ALGS4 October 2044UF . . . . . 10 49,505,659 SUP (2) FLT 3136ALGT2 October 2044US . . . . . 10 24,752,830 SUP (2) INV 3136ALGU9 October 2044

R . . . . . 0 NPR 0 NPR 3136ALGV7 October 2044

(1) See “Description of the Certificates—Class Definitionsand Abbreviations” in the REMIC prospectus.

(2) Based on LIBOR.(3) Notional principal balances. These classes are interest only

classes. See page S-7 for a description of how theirnotional principal balances are calculated.

(4) Based on LIBOR and subject to thelimitations described on pages S-13 andS-14.

(5) The interest rate of the SA Class iscalculated as described on page S-14.

(6) Exchangeable classes.

i

TABLE OF CONTENTS

Page

AVAILABLE INFORMATION . . . . . . S- 3SUMMARY . . . . . . . . . . . . . . . . . . . . . . . . S- 4ADDITIONAL RISK FACTOR . . . . . . S- 9DESCRIPTION OF THE

CERTIFICATES . . . . . . . . . . . . . . . . . S- 9GENERAL . . . . . . . . . . . . . . . . . . . . . . . . S- 9

Structure . . . . . . . . . . . . . . . . . . . . . . S- 9Fannie Mae Guaranty . . . . . . . . . . . S-10Characteristics of Certificates . . . . . S-10Authorized Denominations . . . . . . . S-10

THE UNDERLYING REMIC AND RCRCERTIFICATES . . . . . . . . . . . . . . . . . . . S-11

THE FIXED RATE MBS . . . . . . . . . . . . . S-11THE ARM MBS . . . . . . . . . . . . . . . . . . . S-12

General . . . . . . . . . . . . . . . . . . . . . . . . S-12Characteristics of the Hybrid ARM

Loans . . . . . . . . . . . . . . . . . . . . . . . . S-12Applicable Index . . . . . . . . . . . . . . S-12Initial Fixed-Rate Periods . . . . . . S-12ARM Rate Changes . . . . . . . . . . . . S-12Initial ARM Rate Change Caps . . . S-12Subsequent ARM Rate Change

Caps . . . . . . . . . . . . . . . . . . . . . . . S-12Lifetime Cap and Floor . . . . . . . . S-13Monthly Payments . . . . . . . . . . . . S-13

DISTRIBUTIONS OF INTEREST . . . . . . . . S-13General . . . . . . . . . . . . . . . . . . . . . . . . S-13Delay Classes and No-Delay

Classes . . . . . . . . . . . . . . . . . . . . . . S-13Accrual Classes . . . . . . . . . . . . . . . . . S-13The FA Class . . . . . . . . . . . . . . . . . . . S-13The SA Class . . . . . . . . . . . . . . . . . . . S-14

DISTRIBUTIONS OF PRINCIPAL . . . . . . . S-14

Page

STRUCTURING ASSUMPTIONS . . . . . . . . S-16Pricing Assumptions . . . . . . . . . . . . S-16Prepayment Assumptions . . . . . . . . S-17Principal Balance Schedules . . . . . . S-17

YIELD TABLES AND ADDITIONAL

YIELD CONSIDERATIONS . . . . . . . . . . S-18General . . . . . . . . . . . . . . . . . . . . . . . . S-18The Inverse Floating Rate

Classes . . . . . . . . . . . . . . . . . . . . . . S-19The Principal Only Class . . . . . . . . . S-22The Fixed Rate Interest Only

Classes . . . . . . . . . . . . . . . . . . . . . . S-22The SA Class . . . . . . . . . . . . . . . . . . . S-23

WEIGHTED AVERAGE LIVES OF THE

CERTIFICATES . . . . . . . . . . . . . . . . . . S-23DECREMENT TABLES . . . . . . . . . . . . . . . S-24CHARACTERISTICS OF THE RESIDUAL

CLASS . . . . . . . . . . . . . . . . . . . . . . . . . S-32CERTAIN ADDITIONAL FEDERAL

INCOME TAX CONSEQUENCES . . S-32REMIC ELECTION AND SPECIAL TAX

ATTRIBUTES . . . . . . . . . . . . . . . . . . . . S-32TAXATION OF BENEFICIAL OWNERS OF

REGULAR CERTIFICATES . . . . . . . . . . S-32TAXATION OF BENEFICIAL OWNERS OF

RESIDUAL CERTIFICATES . . . . . . . . . S-33TAXATION OF BENEFICIAL OWNERS OF

RCR CERTIFICATES . . . . . . . . . . . . . . S-33PLAN OF DISTRIBUTION . . . . . . . . . S-34LEGAL MATTERS . . . . . . . . . . . . . . . . S-34EXHIBIT A-1 . . . . . . . . . . . . . . . . . . . . . . A- 1EXHIBIT A-2 . . . . . . . . . . . . . . . . . . . . . . A- 3SCHEDULE 1 . . . . . . . . . . . . . . . . . . . . . A- 4PRINCIPAL BALANCE

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

S-2

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 March 1, 2013, for all MBS issued on or after March 1, 2013,

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 1, Group 3, Group 4 or Group 9 Class or the R Class, thedisclosure documents relating to the applicable underlying REMIC and RCR certificates(the “Underlying REMIC 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 datedMarch 1, 2013.

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 1-800-237-8627).

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

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

Barclays Capital Inc.Attn: MBS Operations1301 Avenue of the Americas, 8th FloorNew York, New York 10019(telephone (201) 499-3076).

S-3

SUMMARY

This summary contains only limited information about the certificates. Statisticalinformation in this summary is provided as of September 1, 2014. You should purchasethe certificates only after reading this prospectus supplement and each of the addi-tional disclosure documents listed on page S-3. In particular, please see the discussionof risk factors that appears in each of those additional disclosure documents.

Assets Underlying Each Group of Classes

Group Assets

1 Class 2013-101-AE RCR CertificateClass 2013-101-E RCR Certificate

2 Group 2 MBS3 Class 2014-40-LS REMIC Certificate

Class 2014-40-SA REMIC Certificate4 Class 2013-120-HS REMIC Certificate5 Group 5 MBS6 Group 6 MBS7 Group 7 MBS8 Group 8 MBS9 Class 2013-43-SX REMIC Certificate

10 Group 10 MBS

Group 1, Group 3, Group 4 and Group 9

Exhibit A-1 describes the underlying REMIC and RCR certificates in Group 1, Group 3,Group 4 and Group 9, including certain information about the related mortgage loans. To learnmore about the underlying REMIC and RCR certificates, you should obtain from us the currentclass factors and the related disclosure documents as described on page S-3.

Group 2, Group 6, Group 7, Group 8 and Group 10

Characteristics of the Fixed Rate MBS

ApproximatePrincipalBalance

Pass-Through

Rate

Range of WeightedAverage Coupons

or WACs(annual percentages)

Range of WeightedAverage RemainingTerms to Maturity

or WAMs(in months)

Group 2 MBS $122,626,000 4.50% 4.75% to 7.00% 195 to 360Group 6 MBS $ 28,107,046 4.00% 4.25% to 6.50% 241 to 360Group 7 MBS $249,844,865 3.00% 3.25% to 5.50% 241 to 360Group 8 MBS $ 88,428,452 5.50% 5.75% to 8.00% 150 to 360Group 10 MBS $113,929,825 4.00% 4.25% to 6.50% 241 to 360

$123,923,669 4.00% 4.25% to 6.50% 241 to 360$ 25,983,995 4.00% 4.25% to 6.50% 241 to 360

S-4

Assumed Characteristics of the Underlying Mortgage Loans

PrincipalBalance

OriginalTerm toMaturity

(in months)

RemainingTerm toMaturity

(in months)Loan Age

(in months)Interest

Rate

Group 2 MBS $122,626,000 360 301 52 4.919%Group 6 MBS $ 28,107,046 360 322 32 4.359%Group 7 MBS $249,844,865 360 331 25 3.806%Group 8 MBS $ 88,428,452 360 224 124 5.970%Group 10 MBS $113,929,825 360 346 12 4.610%

$123,923,669 360 349 9 4.580%$ 25,983,995 360 353 6 4.630%

The actual remaining terms to maturity, loan ages and interest rates of most of the mortgageloans underlying the fixed rate MBS will differ from those shown above, and may differsignificantly. See “Risk Factors—Risks Relating to Yield and Prepayment—Yields on andweighted average lives of the certificates are affected by actual characteristics of the mortgage loansbacking the series trust assets” in the REMIC Prospectus.

Group 5

The first table in Exhibit A-2 of this prospectus supplement lists certain assumed character-istics of the mortgage loans underlying the adjustable-rate MBS in Group 5. The assumed charac-teristics appearing in Exhibit A-2 may not reflect the actual characteristics of the individualadjustable-rate mortgage loans included in the related pools. The actual characteristics of most ofthe related mortgage loans may differ from those specified in Exhibit A-2, and may differsignificantly.

The second table in Exhibit A-2 of this prospectus supplement lists the pool numbers of theadjustable-rate MBS expected to be included in the Trust.

Settlement Date

We expect to issue the certificates on September 30, 2014.

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 Class R Class

S-5

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.

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 floating rate and inverse floating rate classes (otherthan the DS, SD, DT, AS, BS and SX Classes) will bear interest at the initial interest rates listedbelow. The initial interest rates listed below for the DS, SD, DT, AS, BS and SX Classes are assumedrates. During each subsequent interest accrual period, the floating rate and inverse floating rateclasses will bear interest based on the formulas indicated below, but always subject to the specifiedmaximum and minimum interest rates:

Class

InitialInterest

Rate

MaximumInterest

Rate

MinimumInterest

Rate

Formula forCalculation of

Interest Rate(1)

FK . . . . . . . . . . . . . 0.50700% 7.0000% 0.35% LIBOR + 35 basis pointsSK . . . . . . . . . . . . . 6.49300% 6.6500% 0.00% 6.65% � LIBORDY . . . . . . . . . . . . . 9.59670% 10.0399% 0.00% 10.0399% � (2.86854451 x LIBOR)DX . . . . . . . . . . . . . 6.50000% 6.5000% 0.00% 52% � (13.00 x LIBOR)DS . . . . . . . . . . . . . 10.12032%(2) 10.5283% 0.00% 10.5283% � (2.63207537 x LIBOR)SD . . . . . . . . . . . . . 10.12032%(2) 10.5283% 0.00% 10.5283% � (2.63207537 x LIBOR)DT . . . . . . . . . . . . . 7.75000%(2) 7.7500% 0.00% 69.75% � (15.50 x LIBOR)MF . . . . . . . . . . . . . 0.45500% 6.5000% 0.30% LIBOR + 30 basis pointsMS . . . . . . . . . . . . . 6.04500% 6.2000% 0.00% 6.2% � LIBORAS . . . . . . . . . . . . . 7.69000%(2) 8.0000% 0.00% 8% � (2 x LIBOR)BS . . . . . . . . . . . . . 7.69000%(2) 8.0000% 0.00% 8% � (2 x LIBOR)UF . . . . . . . . . . . . . 1.15500% 5.2500% 1.00% LIBOR + 100 basis pointsUS . . . . . . . . . . . . . 8.19000% 8.5000% 0.00% 8.5% � (1.99999996 x LIBOR)SX . . . . . . . . . . . . . 7.69000%(2) 8.0000% 0.00% 8% � (2 x LIBOR)

(1) We will establish LIBOR on the basis of the “ICE Method.”(2) Assumed initial interest rates. The actual initial interest rates for these classes will be calculated on September 23,

2014, using the applicable formula.

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

S-6

Notional Classes

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

Class

SK . . . . . . . . . . . . . . . . 100% of the FK ClassSA . . . . . . . . . . . . . . . . 100% of the FA ClassMS . . . . . . . . . . . . . . . . 100% of the MF ClassIO . . . . . . . . . . . . . . . . 12.4999999526% of the Group 10 MBSPI . . . . . . . . . . . . . . . . 31.25% of the PA ClassIP . . . . . . . . . . . . . . . . 25% of the sum of the PA and PB ClassesIM . . . . . . . . . . . . . . . . 25% of the sum of the PA, PB and PC Classes

Distributions of Principal

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

Weighted Average Lives (years)*

PSA Prepayment AssumptionGroup 1 Class 0% 100% 300% 400% 500%

E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.4 13.8 8.9 7.2 5.9

PSA Prepayment AssumptionGroup 2 Classes 0% 100% 150% 180% 300% 500% 700% 1000%

PG . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13.9 5.4 4.5 4.5 4.5 2.8 1.9 1.2PY . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23.1 17.3 17.3 17.3 17.3 11.1 7.6 4.6Z . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.9 17.6 15.0 12.9 1.5 0.5 0.3 0.2FK and SK . . . . . . . . . . . . . . . . . . . . . 19.9 9.2 7.4 6.6 4.4 2.6 1.8 1.1

PSA Prepayment AssumptionGroup 3 Classes 0% 100% 200% 400% 500% 800%

DY and DX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.2 19.9 8.4 0.6 0.4 0.2


DS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.2 13.3 1.5 0.6 0.4 0.2SD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.9 19.8 10.4 2.3 1.3 0.8DT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.6 17.9 7.7 1.8 1.0 0.6

CPR Prepayment AssumptionGroup 5 Classes 0% 5% 10% 15% 25% 50% 75%

FA and SA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.4 8.1 6.0 4.6 3.0 1.4 0.7


AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.4 7.8 4.8 2.5 2.0 1.1AV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.0 7.0 7.0 5.8 5.0 3.2ZA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.3 23.2 18.1 11.2 9.1 5.3

S-7

PSA Prepayment AssumptionGroup 7 Classes 0% 100% 200% 300% 400%

HK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.0 6.1 3.6 2.5 1.9VA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.0 6.0 5.8 4.8 4.0VB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.0 14.0 9.9 7.2 5.6ZV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.1 20.4 15.4 11.7 9.1


M, MF, MS, MK, ML, MN and MQ . . . . . . . . . . . . . 20.5 7.6 3.6 1.8 1.1 0.6


PO and SX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.2 19.7 4.7 0.7 0.5 0.3AS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26.2 14.9 0.7 0.2 0.2 0.1BS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.7 21.7 6.4 0.8 0.6 0.3

PSA Prepayment AssumptionGroup 10 Classes 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

IO . . . . . . . . . . . . . . . . . . . . 19.6 10.3 9.2 8.1 5.0 2.7 1.8 1.4 0.8PA, PE, PT, PH and PI . . 14.3 4.8 4.2 4.2 4.2 2.5 1.8 1.4 0.9PB . . . . . . . . . . . . . . . . . . . . 23.5 11.0 10.2 10.2 10.2 5.2 3.4 2.4 1.4PC . . . . . . . . . . . . . . . . . . . . 24.8 14.0 13.9 13.9 13.9 7.1 4.5 3.1 1.6PD . . . . . . . . . . . . . . . . . . . . 25.8 21.8 21.8 21.8 21.8 11.8 7.3 4.8 1.8UF and US . . . . . . . . . . . . 28.0 19.8 17.4 13.5 2.3 0.9 0.6 0.5 0.3PQ . . . . . . . . . . . . . . . . . . . . 24.4 13.7 13.3 13.3 13.3 6.9 4.3 3.0 1.5PJ, PU, PK, IP and KQ . . 15.0 5.4 4.7 4.7 4.7 2.7 1.9 1.5 1.0PN . . . . . . . . . . . . . . . . . . . . 25.0 15.2 15.1 15.1 15.1 7.8 4.9 3.4 1.6P, PL, PM, IM and MP . . 16.1 6.3 5.7 5.7 5.7 3.2 2.2 1.6 1.0JP . . . . . . . . . . . . . . . . . . . . 16.3 6.6 6.0 6.0 6.0 3.4 2.3 1.7 1.1

* 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 FACTOR

Payments on the Group 1, Group 3,Group 4 and Group 9 Classes will be affectedby the applicable payment priorities governingthe related underlying REMIC and RCRcertificates. If you invest in a Group 1,Group 3, Group 4 or Group 9 Class, the rate atwhich you receive payments will be affectedby the applicable priority sequences governingprincipal payments on the related underlyingREMIC and RCR certificates.

As described in the related UnderlyingREMIC Disclosure Documents, the underlyingREMIC and RCR certificates may besubsequent in payment priority to certainother classes issued from the related under-lying REMIC trusts. As a result, such otherclasses may receive principal before principalis paid on the underlying REMIC and RCRcertificates, possibly for long periods.

In addition, as described in the applicableUnderlying REMIC Disclosure Documents, the

Group 9 Underlying REMIC Certificate is asupport class and the Group 3 UnderlyingREMIC Certificates and Group 4 UnderlyingREMIC Certificate are backed by supportclasses. A support class is entitled to receivepayments on a distribution date only if sched-uled payments of principal have been made oncertain other classes in the related underlyingREMIC trust. Accordingly, a support class mayreceive no principal payments for an extendedperiod or may receive principal payments thatmay vary widely from period to period.

You may obtain additional informationabout the underlying REMIC and RCRCertificates by reviewing their current classfactors in light of other information availablein the related Underlying REMIC DisclosureDocuments. You may obtain those documentsfrom us as described on page S-3.

DESCRIPTION OF THE CERTIFICATES

The material under this heading describes the principal features of the Certificates. You willfind additional information about the Certificates in the other sections of this prospectus supple-ment, as well as in the additional Disclosure Documents and the Trust Agreement. If we use acapitalized term in this prospectus supplement without defining it, you will find the definition ofthat term in the applicable Disclosure Document or in the Trust Agreement.

General

Structure. We will create the Fannie Mae REMIC Trust specified on the cover of thisprospectus supplement (the “Trust”) pursuant to a trust agreement dated as of May 1, 2010 and asupplement thereto dated as of September 1, 2014 (the “Issue Date”). We will issue the Guaran-teed REMIC Pass-Through Certificates (the “REMIC Certificates”) pursuant to that trust agree-ment and supplement. We will issue the Combinable and Recombinable REMIC Certificates (the“RCR Certificates” and, together with the REMIC Certificates, the “Certificates”) pursuant to aseparate trust agreement dated as of May 1, 2010 and a supplement thereto dated as of the IssueDate (together with the trust agreement and supplement relating to the REMIC Certificates, the“Trust Agreement”). We will execute the Trust Agreement in our corporate capacity and as trustee(the “Trustee”). In general, the term “Classes” includes the Classes of REMIC Certificates andRCR Certificates.

The assets of the Trust will include:

• four groups of previously issued REMIC and RCR Certificates (the “Group 1 UnderlyingRCR Certificates,” “Group 3 Underlying REMIC Certificates,” “Group 4 Underlying REMICCertificate” and “Group 9 Underlying REMIC Certificate,” and together, the “UnderlyingREMIC and RCR Certificates”) issued from the related Fannie Mae REMIC trusts (the“Underlying REMIC Trusts”), as further described in Exhibit A-1,

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• five groups of Fannie Mae Guaranteed Mortgage Pass-Through Certificates having fixedpass-through rates (the “Group 2 MBS,” “Group 6 MBS,” “Group 7 MBS,” “Group 8 MBS”and “Group 10 MBS,” and together, the “Fixed Rate MBS”), and

• one group of Fannie Mae Guaranteed Mortgage Pass-Through Certificates having variablepass-through rates (the “Group 5 MBS” or “ARM MBS”).

The Fixed Rate MBS and the ARM MBS are referred to collectively as the “Trust MBS.”

The Underlying REMIC and RCR Certificates evidence direct or indirect beneficial ownershipinterests in certain Fannie Mae Guaranteed Mortgage Pass-Through Certificates (together withthe Trust MBS, the “MBS”).

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

The Trust will constitute a “real estate mortgage investment conduit” (“REMIC”) under theInternal Revenue Code of 1986, as amended (the “Code”).

The following chart contains information about the assets, the “regular interests” and the“residual interest” of the REMIC. The REMIC Certificates other than the R Class are collectivelyreferred to as the “Regular Classes” or “Regular Certificates,” and the R Class is referred to as the“Residual Class” or “Residual Certificate.”

AssetsRegularInterests

ResidualInterest

REMIC . . . . . . . . . . . . . . . . . . . . . Underlying REMIC and RCRCertificates and Trust MBS

All Classes of REMICCertificates other thanthe R Class

R

Fannie Mae Guaranty. For a description of our guaranties of the Certificates, the MBS andthe Underlying REMIC and RCR Certificates, see the applicable discussions appearing under theheading “Fannie Mae Guaranty” in the REMIC Prospectus, the MBS Prospectus and the Under-lying REMIC Disclosure Documents. Our guaranties are not backed by the full faith and credit ofthe United 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 Certificate in fully registered, certificated form. The “Holder” or“Certificateholder” of the Residual Certificate is its registered owner. The Residual Certificate canbe transferred 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 Certificate and may require payment to cover any tax or other governmental charge. Seealso “—Characteristics of the Residual Class” below.

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

Classes Denominations

Interest Only, Principal Only andInverse Floating Rate Classes

$100,000 minimum plus whole dollar increments

All other Classes (except the R andRL Classes)

$1,000 minimum plus whole dollar increments

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The Underlying REMIC and RCR Certificates

The Underlying REMIC and RCR Certificates represent beneficial ownership interests in therelated Underlying REMIC Trusts. The assets of those trusts consist of MBS (or beneficialownership interests in MBS) having the general characteristics set forth in the MBS Prospectus.Each MBS evidences beneficial ownership interests in a pool of conventional, fixed-rate,fully-amortizing mortgage loans secured by first mortgages or deeds of trust on single-familyresidential properties, as described under “The Mortgage Loan Pools” and “Yield, Maturity andPrepayment Considerations” in the MBS Prospectus.

In addition, the pools of mortgage loans backing the Group 4 Underlying REMIC Certificatehave been designated as pools that include “jumbo-conforming” or “high balance” mortgage loansas described further under “The Mortgage Loans—Special Feature Mortgage Loans—Loans withOriginal Principal Balances Exceeding our Traditional Conforming Loan Limits” in the MBSProspectus dated March 1, 2013. For periodic updates to that description, please refer to the PoolPrefix Glossary available on our Web site at www.fanniemae.com. For additional informationabout the particular pools backing the Group 4 Underlying REMIC Certificate, see the Final DataStatement for the related trust and the related prospectus supplement for each MBS. See also“Risk Factors—Risks Relating to Yield and Prepayment—Refinancing of Loans; Sale of Property—“Jumbo-conforming” mortgage loans, which have original principal balances that exceed ourtraditional conforming loan limits, may prepay at different rates than conforming balance mort-gage loans generally” in the MBS Prospectus dated March 1, 2013.

Distributions on the Underlying REMIC and RCR Certificates will be passed throughmonthly, beginning in the month after we issue the Certificates. The general characteristics of theUnderlying REMIC and RCR Certificates are described in the related Underlying REMICDisclosure Documents. See Exhibit A-1 for certain additional information about the UnderlyingREMIC and RCR Certificates. Exhibit A-1 is provided in lieu of a Final Data Statement withrespect to the Underlying REMIC and RCR Certificates.

For further information about the Underlying REMIC and RCR Certificates, telephone us at1-800-237-8627. Additional information about the Underlying REMIC and RCR Certificates is alsoavailable at https://mbsdisclosure.fanniemae.com/PoolTalk2/index.html. There may have beenmaterial changes 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.

The Fixed Rate MBS

The Fixed Rate MBS provide that principal and interest on the related Mortgage Loans arepassed through monthly. The Mortgage Loans underlying the Fixed Rate MBS are conventional,fixed-rate, fully-amortizing mortgage loans secured by first mortgages or deeds of trust on single-family residential properties. These Mortgage Loans have original maturities of up to 30 years.

In addition, the pools of mortgage loans backing the Group 10 MBS have been designated aspools that include “jumbo-conforming” or “high balance” mortgage loans as described further under“The Mortgage Loans—Special Feature Mortgage Loans—Loans with Original Principal BalancesExceeding our Traditional Conforming Loan Limits” in the MBS Prospectus dated March 1, 2013.For periodic updates to that description, please refer to the Pool Prefix Glossary available on ourWeb site at www.fanniemae.com. For additional information about the particular pools backing theGroup 10 MBS, see the Final Data Statement for the Trust and the related prospectus supplementfor each MBS. See also “Risk Factors—Risks Relating to Yield and Prepayment—Refinancing ofLoans; Sale of Property—“Jumbo-conforming” mortgage loans, which have original principalbalances that exceed our traditional conforming loan limits, may prepay at different rates thanconforming balance mortgage loans generally” in the MBS Prospectus dated March 1, 2013.

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For additional information, see “Summary—Group 2, Group 6, Group 7, Group 8 andGroup 10—Characteristics of the Fixed Rate MBS” in this prospectus supplement and “The Mort-gage Loan Pools” and Yield, Maturity and Prepayment Considerations” in the MBS Prospectus.

The ARM MBS

Unless otherwise specified, references in this section to percentages of the Hybrid ARM Loans arein each case measured by aggregate principal balance of the Hybrid ARM Loans at the Issue Date.

General

The Mortgage Loans underlying the ARM MBS in Group 5 (the “Hybrid ARM Loans”) will havethe general characteristics described in the MBS Prospectus. In addition, we assume that the HybridARM Loans will have the characteristics listed in the first table on Exhibit A-2 to this prospectussupplement. The ARM MBS provide that principal and interest on the Hybrid ARM Loans are passedthrough monthly, beginning in the month after we issue the ARM MBS. The Hybrid ARM Loans areconventional, adjustable-rate mortgage loans secured by first mortgages or deeds of trust on single-family residential properties. The Hybrid ARM Loans have original maturities of up to 30 years. See“Description of the Certificates,” “The Mortgage Loan Pools,” “The Mortgage Loans—Adjustable-RateMortgage Loans (ARM Loans)” and “Yield, Maturity and Prepayment Considerations” in the MBSProspectus. See also the second table in Exhibit A-2 to this prospectus supplement for the poolnumbers of the ARM MBS expected to be included in the Trust.

Characteristics of the Hybrid ARM Loans

Applicable Index

After the initial fixed-rate period, the interest rate (the “ARM Rate”) for the Hybrid ARMLoans will adjust annually based on the One-Year WSJ LIBOR Index (the “One Year LIBOR ARMLoans”) as available in most cases 45 days or 25 days, as applicable, prior to the related interestrate adjustment date.

See “The Mortgage Loans—Adjustable-Rate Mortgage Loans (ARM Loans)—ARM Indices” in theMBS Prospectus for a description of the index. If this index becomes unavailable, an alternativeindex will be determined in accordance with the terms of the related mortgage note.

Initial Fixed-Rate Periods

The interest rate of each Hybrid ARM Loan was fixed for an initial period of five years fromorigination (the “Initial Fixed Rate”).

ARM Rate Changes

After the initial fixed-rate period, the ARM Rate of each Hybrid ARM Loan is set annually,subject to the caps and floors described below, to equal the sum of (i) the applicable index valueplus (ii) a specified percentage amount (the “ARM Margin”) that the lender established when theHybrid ARM Loan was originated.

Initial ARM Rate Change Caps

For the interest rate adjustment immediately following the end of the initial fixed-rate period,the ARM Rate for each Hybrid ARM Loan generally may not deviate by more than 5 percentagepoints from the related Initial Fixed Rate.

Subsequent ARM Rate Change Caps

On each annual ARM Rate adjustment date thereafter, the ARM Rate for each Hybrid ARMLoan generally may not deviate by more than 2 percentage points from the related ARM Rate ineffect immediately prior to that adjustment date.

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Lifetime Cap and Floor

The ARM Rate for each Hybrid ARM Loan, when adjusted on its annual adjustment date,may not be greater than the maximum ARM Rate (lifetime rate cap) or less than its minimumARM Rate (lifetime floor), as specified in the related mortgage note.

Monthly Payments

After the initial fixed-rate period, the amount of a borrower’s monthly payment is subject tochange on each anniversary of the date specified in the related mortgage note.

Each new monthly payment amount will be calculated to equal an amount necessary to payinterest at the new ARM Rate, adjusted as described above, and to fully amortize the outstandingprincipal balance of the Hybrid ARM Loan on a level debt service basis over the remainder of itsterm.

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.

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, Weighted Average CouponClass and the DY, DX and FA Classes

Floating Rate and Inverse Floating Rate Classesother than the DY, DX and FA Classes

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

The Dealer will treat the Principal Only Class as a No-Delay Class solely for the purpose offacilitating trading.

Accrual Classes. The Z, ZA and ZV Classes are Accrual Classes. Interest will accrue on eachAccrual Class at the applicable annual rate specified on the cover of this prospectus supplement.However, we will not pay any interest on the Accrual Classes. Instead, interest accrued on eachAccrual Class will be added as principal to its principal balance on each Distribution Date. Wewill pay principal on the Accrual Classes as described under “—Distributions of Principal” below.

The FA Class.

On each Distribution Date, we will pay interest on the FA Class in an amount equal to onemonth’s interest at an annual rate equal to the lesser of

• LIBOR + 35 basis points

or

• the Weighted Average Group 5 MBS Pass-Through Rate (described below).

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The “Weighted Average Group 5 MBS Pass-Through Rate” for any Distribution Date is equalto the weighted average of the pass-through rates of the Group 5 MBS in effect for calculatingdistributions on that Distribution Date, weighted on the basis of the principal balances of theGroup 5 MBS after giving effect to distributions of principal made on the immediately precedingDistribution Date.

During the initial interest accrual period, the FA Class will bear interest at an annual rate of0.505%. Our determination of the interest rate for the FA Class will be final and binding in theabsence of manifest error. You may obtain each such interest rate by telephoning us at1-800-237-8627.

The SA Class.

On each Distribution Date, we will pay interest on the SA Class at an annual rate equal tothe product 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 MBS

over

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

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

multiplied by

• 12.

During the initial interest accrual period, the SA Class is expected to bear interest at anannual rate of approximately 1.80202%. Our determination of the interest rate for the SA Classwill be final and binding in the absence of manifest error. You may obtain each such interest rateby telephoning us at 1-800-237-8627.

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 E until retired. Structured

Collateral/Pass-ThroughClass

The “Group 1 Principal Distribution Amount” is the principal then paid on the Group 1Underlying RCR Certificates.

• Group 2

⎫⎬⎭The Z Accrual Amount to Aggregate Group I to its Planned Balance, and

thereafter to Z.

AccretionDirected/PACGroup andAccrual Class

The Group 2 Cash Flow Distribution Amount as follows:

— 71.4285714286% as follows:

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

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

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

⎫⎬⎭— 28.5714285714% to FK until retired. Pass-ThroughClass

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

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

“Aggregate Group I” consists of the PG and PY Classes. On each Distribution Date, we willapply payments of principal of Aggregate Group I to PG and PY, 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 Group 3 Principal Distribution Amount to DY and DX, pro rata, until

retired.

StructuredCollateral/Pass-ThroughClasses

The “Group 3 Principal Distribution Amount” is the principal then paid on the Group 3Underlying REMIC Certificates.

• Group 4

The Group 4 Principal Distribution Amount as follows:

⎫⎪⎬⎪⎭

⎫⎬⎭— 85.4838823757% to DS and SD, in that order, until retired, and SequentialPay Classes

StructuredCollateral⎫⎬⎭— 14.5161176243% to DT until retired.

Pass-ThroughClass

The “Group 4 Principal Distribution Amount is the principal then paid on the Group 4Underlying REMIC Certificate.

• Group 5

⎫⎬⎭The Group 5 Principal Distribution Amount to FA until retired. Pass-ThroughClass

The “Group 5 Principal Distribution Amount” is the principal then paid on the Group 5 MBS.

• Group 6

⎫⎬⎭The ZA Accrual Amount to AV until retired, and thereafter to ZA. Accretion

DirectedClass andAccrual Class

⎫⎬⎭The Group 6 Cash Flow Distribution Amount to AB, AV and ZA, in that order,

until retired.SequentialPay Classes

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


• Group 7

⎫⎬⎭The ZV Accrual Amount to VA and VB, in that order, until retired, and there-

after to ZV.

AccretionDirectedClasses andAccrual Class

⎫⎬⎭The Group 7 Cash Flow Distribution Amount to HK, VA, VB and ZV, in that

order, until retired.SequentialPay Classes

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


• Group 8

⎫⎬⎭The Group 8 Principal Distribution Amount to M and MF, pro rata, until

retired.Pass-ThroughClasses


• Group 9

The Group 9 Principal Distribution Amount as follows:

⎫⎪⎬⎪⎭

⎫⎬⎭— 50.0000024541% to PO until retired, and Pass-ThroughClass

StructuredCollateral⎫⎬⎭— 49.9999975459% to AS and BS, in that order, until retired.

SequentialPay Classes

The “Group 9 Principal Distribution Amount is the principal then paid on the Group 9Underlying REMIC Certificate.

• Group 10

The Group 10 Principal Distribution Amount in the following priority:

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

⎫⎬⎭2. To UF and US, pro rata, until retired. SupportClasses

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


“Aggregate Group II” consists of the PA, PB, PC and PD Classes. On each Distribution Date,we will apply payments of principal of Aggregate Group II to PA, PB, PC and PD, 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.

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 of MortgageLoans backing the Underlying REMIC and RCR Certificates, the applicable priority sequencesaffecting principal payments on the Underlying REMIC and RCR Certificates, and the followingassumptions (such characteristics and assumptions, collectively, the “Pricing Assumptions”):

• the Mortgage Loans underlying the Fixed Rate MBS have the original terms to maturity,remaining terms to maturity, loan ages and interest rates specified under “Summary—Group 2, Group 6, Group 7, Group 8 and Group 10—Assumed Characteristics of theUnderlying Mortgage Loans” in this prospectus supplement;

• the Hybrid ARM Loans have the characteristics set forth in Exhibit A-2 to this prospectussupplement;

• with respect to the Hybrid ARM Loans, One-Year WSJ LIBOR Index value is and remains0.5392%;

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• the Mortgage Loans prepay at the constant percentages of PSA or CPR, as applicable,specified in the related tables;

• the settlement date for the Certificates is September 30, 2014; and

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

The actual remaining terms to maturity, loan ages and interest rates of most of the mortgageloans underlying the Fixed Rate 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 withrespect to all Classes other than the Group 5 Classes is PSA. For a description of PSA, see “Yield,Maturity and Prepayment Considerations—Prepayment Models” in the REMIC Prospectus.

The prepayment model used in this prospectus supplement with respect to the Group 5Classes is CPR. For a description of CPR, see “Yield, Maturity and Prepayment Considerations—Prepayment Models” in the REMIC Prospectus.

It is highly unlikely that prepayments will occur at any constant PSA or CPR rate, as appli-cable, 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 150% and 300% PSA Between 150% and 300% PSAAggregate Group II Planned Balances Between 125% and 300% PSA Between 125% and 300% PSA

The Aggregate Groups listed above consist of the following Classes:

Aggregate Group I . . . . . . . . . . . . PG and PYAggregate Group II . . . . . . . . . . . PA, PB, PC and PD

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 either Aggregate Group will conform onany Distribution Date to the balance specified in the Principal Balance Schedules orthat distributions of principal of either Aggregate Group will begin or end on theDistribution Dates specified in the Principal Balance Schedules.

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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 reducethe 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 differ fromthe Initial Effective Ranges specified above. For the same reason, the Aggregate Groupsmight not be reduced to their scheduled balances each month even if the related MortgageLoans prepay at a constant PSA rate within the applicable Initial Effective Ranges. This is soparticularly if the rates fall at the lower or higher end of the applicable ranges.

• 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 or moreother Classes. When the related supporting Class or Classes are retired, the Aggregate Groupreceiving the benefit of that support, if still outstanding, may no longer have an EffectiveRange, and will be 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 to

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differ 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.

The Inverse Floating Rate Classes. The yields on the Inverse Floating Rate Classes willbe sensitive in varying degrees to the rate of principal payments (including prepay-ments) of the related Mortgage Loans and to the level of the Index. The Mortgage Loansgenerally can be prepaid at any time without penalty. In addition, the rate of principalpayments (including prepayments) of the Mortgage Loans is likely to vary, and may varyconsiderably, from pool to pool. As illustrated in the applicable tables below, it is possiblethat investors in the SK and MS Classes would lose money on their initial investmentsunder 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.

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 percentageof original principal balance) are as follows:

Class Price*

SK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.000%DY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98.000%DX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97.500%DS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98.625%SD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100.000%DT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98.000%MS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.500%AS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97.000%BS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 94.000%US . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98.750%SX . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96.000%

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

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

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

PSA Prepayment AssumptionLIBOR 50% 100% 150% 180% 300% 500% 700% 1000%

0.080% . . . . . . . . . . . . . . . . 26.9% 23.5% 20.0% 17.8% 9.1% (6.5)% (23.5)% (52.8)%0.157% . . . . . . . . . . . . . . . . 26.5% 23.1% 19.6% 17.4% 8.7% (6.9)% (23.8)% (53.1)%2.157% . . . . . . . . . . . . . . . . 15.9% 12.6% 9.2% 7.1% (1.3)% (16.1)% (32.4)% (60.5)%4.157% . . . . . . . . . . . . . . . . 4.6% 1.4% (1.8)% (3.7)% (11.7)% (25.9)% (41.4)% (68.5)%6.157% . . . . . . . . . . . . . . . . (11.9)% (14.8)% (17.8)% (19.6)% (27.0)% (40.1)% (54.5)% (81.9)%6.650% . . . . . . . . . . . . . . . . * * * * * * * *

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

PSA Prepayment AssumptionLIBOR 50% 100% 200% 400% 500% 800%

0.0750% . . . . . . . . . . . . . . . 10.2% 10.2% 10.3% 12.5% 13.5% 17.0%0.1545% . . . . . . . . . . . . . . . 9.9% 10.0% 10.1% 12.3% 13.3% 16.8%2.1545% . . . . . . . . . . . . . . . 4.0% 4.0% 4.2% 6.9% 8.3% 12.7%3.5000% and above . . . . . 0.1% 0.1% 0.2% 3.4% 5.0% 10.0%

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


3.50% and below . . . . . . . . 6.8% 6.8% 7.0% 10.3% 11.9% 17.2%3.75% . . . . . . . . . . . . . . . . . 3.4% 3.4% 3.6% 7.2% 9.0% 14.9%4.00% . . . . . . . . . . . . . . . . . 0.1% 0.1% 0.3% 4.2% 6.2% 12.6%

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


0.080% . . . . . . . . . . . . . . . . 10.7% 10.7% 11.6% 13.2% 14.6% 17.3%0.155% . . . . . . . . . . . . . . . . 10.5% 10.5% 11.4% 13.0% 14.5% 17.2%2.155% . . . . . . . . . . . . . . . . 5.1% 5.1% 6.2% 8.2% 10.0% 13.3%4.000% and above . . . . . . . 0.1% 0.2% 1.5% 3.8% 5.9% 9.8%

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


0.080% . . . . . . . . . . . . . . . . 10.5% 10.5% 10.5% 10.5% 10.5% 10.5%0.155% . . . . . . . . . . . . . . . . 10.3% 10.3% 10.3% 10.3% 10.3% 10.3%2.155% . . . . . . . . . . . . . . . . 4.9% 4.9% 5.0% 5.1% 5.2% 5.4%4.000% and above . . . . . . . 0.0% 0.0% 0.1% 0.3% 0.5% 0.9%

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


4.00% and below . . . . . . . . 8.1% 8.1% 8.3% 9.2% 10.0% 11.5%4.25% . . . . . . . . . . . . . . . . . 4.1% 4.1% 4.3% 5.3% 6.3% 7.9%4.50% . . . . . . . . . . . . . . . . . 0.1% 0.1% 0.3% 1.5% 2.5% 4.3%

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


0.080% . . . . . . . . . . . . . . . . 29.5% 26.0% 7.6% (21.4)% (50.9)% *0.155% . . . . . . . . . . . . . . . . 29.0% 25.5% 7.2% (21.8)% (51.3)% *2.155% . . . . . . . . . . . . . . . . 15.8% 12.5% (4.9)% (32.3)% (60.3)% *4.155% . . . . . . . . . . . . . . . . 1.3% (1.8)% (18.1)% (43.9)% (70.2)% *6.155% . . . . . . . . . . . . . . . . (33.8)% (36.4)% (49.9)% (71.4)% (97.4)% *6.200% . . . . . . . . . . . . . . . . * * * * * *

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


0.080% . . . . . . . . . . . . . . . . 8.3% 8.3% 12.7% 23.1% 28.1% 41.4%0.155% . . . . . . . . . . . . . . . . 8.1% 8.2% 12.5% 23.0% 28.0% 41.3%2.155% . . . . . . . . . . . . . . . . 4.0% 4.0% 8.7% 20.0% 25.4% 39.8%4.000% . . . . . . . . . . . . . . . . 0.2% 0.2% 5.2% 17.2% 23.0% 38.4%

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


0.080% . . . . . . . . . . . . . . . . 8.6% 8.6% 9.5% 16.0% 19.0% 28.8%0.155% . . . . . . . . . . . . . . . . 8.4% 8.4% 9.3% 15.8% 18.9% 28.7%2.155% . . . . . . . . . . . . . . . . 4.1% 4.2% 5.0% 11.8% 15.0% 25.0%4.000% . . . . . . . . . . . . . . . . 0.3% 0.3% 1.1% 8.2% 11.4% 21.7%

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

PSA Prepayment AssumptionLIBOR 50% 100% 125% 155% 300% 600% 900% 1200% 1800%

0.080% . . . . . . . . . . . . . . . . 8.6% 8.6% 8.6% 8.7% 9.1% 10.0% 10.7% 11.4% 12.9%0.155% . . . . . . . . . . . . . . . . 8.5% 8.5% 8.5% 8.5% 9.0% 9.8% 10.5% 11.3% 12.8%2.155% . . . . . . . . . . . . . . . . 4.3% 4.3% 4.4% 4.4% 4.9% 6.0% 6.8% 7.7% 9.5%4.155% . . . . . . . . . . . . . . . . 0.3% 0.3% 0.3% 0.3% 1.0% 2.2% 3.2% 4.2% 6.3%4.250% . . . . . . . . . . . . . . . . 0.1% 0.1% 0.1% 0.1% 0.8% 2.0% 3.0% 4.0% 6.2%

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


0.080% . . . . . . . . . . . . . . . . 8.4% 8.4% 9.3% 14.8% 17.3% 25.2%0.155% . . . . . . . . . . . . . . . . 8.2% 8.2% 9.1% 14.6% 17.1% 25.0%2.155% . . . . . . . . . . . . . . . . 4.0% 4.0% 4.9% 10.8% 13.4% 21.7%4.000% . . . . . . . . . . . . . . . . 0.2% 0.2% 1.0% 7.2% 10.0% 18.7%

The Principal Only Class. The Principal Only Class will not bear interest. Asindicated in the table below, a low rate of principal payments (including prepayments)on the related Mortgage Loans will have a negative effect on the yield to investors inthe Principal Only Class.

The information shown in the following yield table has been prepared on the basis of thePricing Assumptions and the assumption that the aggregate purchase price of the Principal OnlyClass (expressed as a percentage of original principal balance) is as follows:

Class Price

PO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00%

Sensitivity of the PO Class to Prepayments

PSA Prepayment Assumption50% 100% 200% 400% 500% 800%

Pre-Tax Yields to Maturity . . . . . . 1.8% 2.2% 13.3% 84.7% 124.4% 282.7%

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

IO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 326%PI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 327%IP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 354%IM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 374%

For any 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.

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The information shown in the following yield tables has been prepared on the basis of the PricingAssumptions and the assumption that the aggregate purchase prices of the Fixed Rate Interest OnlyClasses (expressed in each case as a percentage of the original principal balance) are as follows:

Class Price*

IO . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.375%PI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.750%IP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.625%IM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.250%

* 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 IO Class to Prepayments

PSA Prepayment Assumption50% 100% 125% 155% 300% 600% 900% 1200% 1800%

Pre-Tax Yields to Maturity . . . 16.9% 13.9% 12.4% 10.6% 1.7% (18.3)% (40.6)% (66.3)% *

Sensitivity of the PI Class to Prepayments



Sensitivity of the IP Class to Prepayments



Sensitivity of the IM Class to Prepayments



The SA Class. The yield to investors in the SA Class will be very sensitive to the rateof principal payments (including prepayments) of the Hybrid ARM Loans and to the levelof LIBOR. The yield will also be sensitive to the weighted average interest rate of theHybrid ARM Loans. The Hybrid ARM Loans can be prepaid at any time without penalty.In addition, the rate of principal payments (including prepayments) of the Hybrid ARMLoans is likely to vary, and may vary considerably, from pool to pool. Under certain highprepayment or high LIBOR scenarios, in particular, it is possible that investors in theSA Class 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.

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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 2, Group 4, Group 6,Group 7, Group 9 and Group 10 Classes, and

• in the case of the Group 1, Group 3, Group 4 and Group 9 Classes, the applicablepriority sequences affecting principal payments on the related Underlying REMIC andRCR Certificates.

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 or CPR rates,as applicable, and the corresponding weighted average lives of those Classes. The tables havebeen prepared on the basis of the Pricing Assumptions.

In the case of the information set forth for each Class (other than the Group 5 Classes) under0% PSA, however, we assumed that the Mortgage Loans have the original and remaining terms tomaturity and bear interest at the annual rates specified in the table below.

Mortgage Loans BackingTrust Assets Specified Below

OriginalTerms toMaturity

RemainingTerms toMaturity

InterestRates

Group 1 Underlying RCR Certificates 240 months 228 months 5.50%Group 2 MBS 360 months 360 months 7.00%Group 3 Underlying REMIC Certificates 360 months 341 months 6.50%Group 4 Underlying REMIC Certificate 360 months 348 months 5.50%Group 6 MBS 360 months 360 months 6.50%Group 7 MBS 360 months 360 months 5.50%Group 8 MBS 360 months 360 months 8.00%Group 9 Underlying REMIC Certificate 360 months 343 months 6.50%Group 10 MBS 360 months 360 months 6.50%

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 or CPR level,as applicable.

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 PSAor CPR rates, as applicable, even if the weighted average remaining term to maturity and theweighted average loan age of the Mortgage Loans are identical to the weighted averages specifiedin the Pricing Assumptions. This is the case because pools of loans with identical weightedaverages are nonetheless likely to reflect differing dispersions of the related characteristics.

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Percent of Original Principal Balances Outstanding

E Class

PSA PrepaymentAssumption

Date 0% 100% 300% 400% 500%

Initial Percent . . . . . . . . 100 100 100 100 100September 2015 . . . . . . 100 100 100 100 100September 2016 . . . . . . 100 100 100 100 100September 2017 . . . . . . 100 100 100 100 100September 2018 . . . . . . 100 100 100 100 82September 2019 . . . . . . 100 100 100 80 54September 2020 . . . . . . 100 100 90 57 35September 2021 . . . . . . 100 100 68 41 23September 2022 . . . . . . 100 100 52 28 15September 2023 . . . . . . 100 100 39 20 10September 2024 . . . . . . 100 100 29 14 6September 2025 . . . . . . 100 92 21 9 4September 2026 . . . . . . 100 75 15 6 2September 2027 . . . . . . 100 59 10 4 1September 2028 . . . . . . 100 45 7 2 1September 2029 . . . . . . 100 32 4 1 *September 2030 . . . . . . 93 19 2 1 *September 2031 . . . . . . 63 8 1 * *September 2032 . . . . . . 33 * * * *September 2033 . . . . . . 0 0 0 0 0September 2034 . . . . . . 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 17.4 13.8 8.9 7.2 5.9

PG Class PY Class



Date 0% 100% 150% 180% 300% 500% 700% 1000% 0% 100% 150% 180% 300% 500% 700% 1000%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 98 89 85 85 85 84 69 46 100 100 100 100 100 100 100 100September 2016 . . . . . . 96 78 72 72 72 56 37 15 100 100 100 100 100 100 100 100September 2017 . . . . . . 93 68 59 59 59 37 19 3 100 100 100 100 100 100 100 100September 2018 . . . . . . 91 59 48 48 48 24 9 0 100 100 100 100 100 100 100 65September 2019 . . . . . . 88 50 38 38 38 15 3 0 100 100 100 100 100 100 100 25September 2020 . . . . . . 85 42 29 29 29 8 0 0 100 100 100 100 100 100 92 10September 2021 . . . . . . 82 34 22 22 22 4 0 0 100 100 100 100 100 100 51 4September 2022 . . . . . . 79 26 17 17 17 1 0 0 100 100 100 100 100 100 29 1September 2023 . . . . . . 75 19 12 12 12 0 0 0 100 100 100 100 100 87 16 1September 2024 . . . . . . 72 12 8 8 8 0 0 0 100 100 100 100 100 59 9 *September 2025 . . . . . . 68 6 6 6 6 0 0 0 100 100 100 100 100 39 5 *September 2026 . . . . . . 64 3 3 3 3 0 0 0 100 100 100 100 100 26 3 *September 2027 . . . . . . 59 2 2 2 2 0 0 0 100 100 100 100 100 17 1 *September 2028 . . . . . . 55 * * * * 0 0 0 100 100 100 100 100 11 1 *September 2029 . . . . . . 50 0 0 0 0 0 0 0 100 79 79 79 79 7 * *September 2030 . . . . . . 45 0 0 0 0 0 0 0 100 60 60 60 60 5 * *September 2031 . . . . . . 39 0 0 0 0 0 0 0 100 44 44 44 44 3 * *September 2032 . . . . . . 33 0 0 0 0 0 0 0 100 33 33 33 33 2 * *September 2033 . . . . . . 27 0 0 0 0 0 0 0 100 24 24 24 24 1 * *September 2034 . . . . . . 20 0 0 0 0 0 0 0 100 17 17 17 17 1 * *September 2035 . . . . . . 13 0 0 0 0 0 0 0 100 11 11 11 11 * * *September 2036 . . . . . . 6 0 0 0 0 0 0 0 100 7 7 7 7 * * 0September 2037 . . . . . . 0 0 0 0 0 0 0 0 56 4 4 4 4 * * 0September 2038 . . . . . . 0 0 0 0 0 0 0 0 2 2 2 2 2 * * 0September 2039 . . . . . . 0 0 0 0 0 0 0 0 * * * * * * * 0September 2040 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2041 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2042 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 13.9 5.4 4.5 4.5 4.5 2.8 1.9 1.2 23.1 17.3 17.3 17.3 17.3 11.1 7.6 4.6

* 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.

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Z Class FK and SK† Classes



Date 0% 100% 150% 180% 300% 500% 700% 1000% 0% 100% 150% 180% 300% 500% 700% 1000%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 104 104 104 94 57 0 0 0 99 92 89 87 80 69 57 39September 2016 . . . . . . 107 107 107 91 28 0 0 0 98 85 79 76 64 47 32 15September 2017 . . . . . . 111 111 111 89 11 0 0 0 97 78 70 66 52 32 18 6September 2018 . . . . . . 115 115 115 90 2 0 0 0 95 71 62 58 41 22 10 2September 2019 . . . . . . 119 119 119 91 * 0 0 0 94 65 55 50 33 15 6 1September 2020 . . . . . . 123 123 120 91 * 0 0 0 93 59 49 43 26 10 3 *September 2021 . . . . . . 128 128 118 88 * 0 0 0 91 54 43 37 21 7 2 *September 2022 . . . . . . 132 132 113 84 * 0 0 0 89 49 38 32 16 5 1 *September 2023 . . . . . . 137 137 107 78 * 0 0 0 88 44 33 28 13 3 1 *September 2024 . . . . . . 142 142 99 71 * 0 0 0 86 40 29 24 10 2 * *September 2025 . . . . . . 147 147 90 64 * 0 0 0 84 36 25 20 8 1 * *September 2026 . . . . . . 152 136 82 57 * 0 0 0 82 32 22 17 6 1 * *September 2027 . . . . . . 158 125 73 51 * 0 0 0 79 28 19 14 5 1 * *September 2028 . . . . . . 163 113 64 44 * 0 0 0 77 25 16 12 4 * * *September 2029 . . . . . . 169 101 56 38 * 0 0 0 74 22 13 10 3 * * *September 2030 . . . . . . 175 89 48 32 * 0 0 0 71 19 11 8 2 * * *September 2031 . . . . . . 181 77 41 27 * 0 0 0 68 16 9 7 2 * * *September 2032 . . . . . . 188 66 34 22 * 0 0 0 65 14 8 5 1 * * *September 2033 . . . . . . 194 55 28 18 * 0 0 0 61 11 6 4 1 * * *September 2034 . . . . . . 201 45 22 14 * 0 0 0 57 9 5 3 1 * * 0September 2035 . . . . . . 208 35 17 10 * 0 0 0 53 7 4 2 * * * 0September 2036 . . . . . . 216 26 12 7 * 0 0 0 49 5 2 2 * * * 0September 2037 . . . . . . 223 17 8 5 * 0 0 0 44 3 2 1 * * * 0September 2038 . . . . . . 207 8 4 2 * 0 0 0 39 2 1 * * * * 0September 2039 . . . . . . 178 1 * * * 0 0 0 34 * * * * * 0 0September 2040 . . . . . . 147 0 0 0 0 0 0 0 28 0 0 0 0 0 0 0September 2041 . . . . . . 114 0 0 0 0 0 0 0 22 0 0 0 0 0 0 0September 2042 . . . . . . 79 0 0 0 0 0 0 0 15 0 0 0 0 0 0 0September 2043 . . . . . . 41 0 0 0 0 0 0 0 8 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 26.9 17.6 15.0 12.9 1.5 0.5 0.3 0.2 19.9 9.2 7.4 6.6 4.4 2.6 1.8 1.1

DY and DX Classes DS Class SD Class




Date 0% 100% 200% 400% 500% 800% 0% 100% 200% 300% 400% 600% 0% 100% 200% 300% 400% 600%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 100 100 81 17 0 0 99 99 66 0 0 0 100 100 100 100 72 15September 2016 . . . . . . 100 100 67 0 0 0 97 97 28 0 0 0 100 100 100 54 * 0September 2017 . . . . . . 100 100 59 0 0 0 96 96 0 0 0 0 100 100 100 23 0 0September 2018 . . . . . . 100 100 54 0 0 0 94 94 0 0 0 0 100 100 91 4 0 0September 2019 . . . . . . 100 100 52 0 0 0 93 93 0 0 0 0 100 100 85 0 0 0September 2020 . . . . . . 100 100 52 0 0 0 91 91 0 0 0 0 100 100 81 0 0 0September 2021 . . . . . . 100 100 51 0 0 0 90 90 0 0 0 0 100 100 77 0 0 0September 2022 . . . . . . 100 100 49 0 0 0 88 88 0 0 0 0 100 100 70 0 0 0September 2023 . . . . . . 100 100 45 0 0 0 86 86 0 0 0 0 100 100 63 0 0 0September 2024 . . . . . . 100 100 42 0 0 0 84 84 0 0 0 0 100 100 55 0 0 0September 2025 . . . . . . 100 100 38 0 0 0 82 82 0 0 0 0 100 100 47 0 0 0September 2026 . . . . . . 100 100 34 0 0 0 80 80 0 0 0 0 100 100 39 0 0 0September 2027 . . . . . . 100 100 30 0 0 0 78 78 0 0 0 0 100 100 31 0 0 0September 2028 . . . . . . 100 100 26 0 0 0 75 73 0 0 0 0 100 100 23 0 0 0September 2029 . . . . . . 100 97 23 0 0 0 73 39 0 0 0 0 100 100 16 0 0 0September 2030 . . . . . . 100 87 19 0 0 0 70 4 0 0 0 0 100 100 10 0 0 0September 2031 . . . . . . 100 77 16 0 0 0 68 0 0 0 0 0 100 87 3 0 0 0September 2032 . . . . . . 100 66 13 0 0 0 65 0 0 0 0 0 100 73 0 0 0 0September 2033 . . . . . . 100 57 11 0 0 0 62 0 0 0 0 0 100 59 0 0 0 0September 2034 . . . . . . 100 47 8 0 0 0 59 0 0 0 0 0 100 46 0 0 0 0September 2035 . . . . . . 100 38 6 0 0 0 56 0 0 0 0 0 100 34 0 0 0 0September 2036 . . . . . . 100 29 5 0 0 0 52 0 0 0 0 0 100 22 0 0 0 0September 2037 . . . . . . 100 21 3 0 0 0 49 0 0 0 0 0 100 10 0 0 0 0September 2038 . . . . . . 100 12 2 0 0 0 45 0 0 0 0 0 100 0 0 0 0 0September 2039 . . . . . . 100 5 1 0 0 0 41 0 0 0 0 0 100 0 0 0 0 0September 2040 . . . . . . 94 0 0 0 0 0 0 0 0 0 0 0 87 0 0 0 0 0September 2041 . . . . . . 58 0 0 0 0 0 0 0 0 0 0 0 46 0 0 0 0 0September 2042 . . . . . . 18 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 27.2 19.9 8.4 0.6 0.4 0.2 19.2 13.3 1.5 0.6 0.4 0.2 26.9 19.8 10.4 2.3 1.3 0.8


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-26

DT Class FA and SA† Classes AB Class


CPR PrepaymentAssumption


Date 0% 100% 200% 300% 400% 600% 0% 5% 10% 15% 25% 50% 75% 0% 100% 200% 400% 500% 800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 100 100 90 70 50 10 96 92 87 82 72 48 24 99 91 85 71 65 45September 2016 . . . . . . 99 99 78 38 * 0 93 84 75 67 52 23 6 97 83 71 50 41 17September 2017 . . . . . . 99 99 70 16 0 0 89 76 65 55 37 11 1 96 75 59 34 24 3September 2018 . . . . . . 98 98 63 3 0 0 85 69 56 44 27 5 * 94 68 49 22 12 0September 2019 . . . . . . 98 98 59 0 0 0 81 63 48 36 19 3 * 93 61 41 13 5 0September 2020 . . . . . . 97 97 57 0 0 0 77 56 41 29 14 1 * 91 55 33 7 0 0September 2021 . . . . . . 97 97 54 0 0 0 72 51 35 23 10 1 * 89 49 26 2 0 0September 2022 . . . . . . 96 96 49 0 0 0 68 45 29 19 7 * * 87 43 21 0 0 0September 2023 . . . . . . 96 96 44 0 0 0 63 40 25 15 5 * * 85 38 16 0 0 0September 2024 . . . . . . 95 95 39 0 0 0 59 35 20 12 3 * * 83 33 11 0 0 0September 2025 . . . . . . 95 95 33 0 0 0 54 31 17 9 2 * * 81 29 8 0 0 0September 2026 . . . . . . 94 94 27 0 0 0 49 27 14 7 2 * * 78 25 5 0 0 0September 2027 . . . . . . 93 93 22 0 0 0 44 23 11 5 1 * 0 75 21 2 0 0 0September 2028 . . . . . . 93 92 16 0 0 0 39 19 9 4 1 * 0 72 17 0 0 0 0September 2029 . . . . . . 92 82 11 0 0 0 33 15 7 3 * * 0 69 14 0 0 0 0September 2030 . . . . . . 91 71 7 0 0 0 28 12 5 2 * * 0 66 11 0 0 0 0September 2031 . . . . . . 90 61 2 0 0 0 22 9 4 1 * * 0 62 8 0 0 0 0September 2032 . . . . . . 89 51 0 0 0 0 16 6 2 1 * * 0 59 5 0 0 0 0September 2033 . . . . . . 89 42 0 0 0 0 10 4 1 * * * 0 55 2 0 0 0 0September 2034 . . . . . . 88 32 0 0 0 0 4 2 1 * * * 0 50 * 0 0 0 0September 2035 . . . . . . 87 24 0 0 0 0 * * * * * 0 0 46 0 0 0 0 0September 2036 . . . . . . 86 15 0 0 0 0 0 0 0 0 0 0 0 41 0 0 0 0 0September 2037 . . . . . . 85 7 0 0 0 0 0 0 0 0 0 0 0 36 0 0 0 0 0September 2038 . . . . . . 84 0 0 0 0 0 0 0 0 0 0 0 0 30 0 0 0 0 0September 2039 . . . . . . 82 0 0 0 0 0 0 0 0 0 0 0 0 24 0 0 0 0 0September 2040 . . . . . . 61 0 0 0 0 0 0 0 0 0 0 0 0 18 0 0 0 0 0September 2041 . . . . . . 32 0 0 0 0 0 0 0 0 0 0 0 0 11 0 0 0 0 0September 2042 . . . . . . 1 0 0 0 0 0 0 0 0 0 0 0 0 4 0 0 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 24.6 17.9 7.7 1.8 1.0 0.6 11.4 8.1 6.0 4.6 3.0 1.4 0.7 18.4 7.8 4.8 2.5 2.0 1.1

AV Class ZA Class HK Class




Date 0% 100% 200% 400% 500% 800% 0% 100% 200% 400% 500% 800% 0% 100% 200% 300% 400%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 94 94 94 94 94 94 104 104 104 104 104 104 98 90 82 74 67September 2016 . . . . . . 88 88 88 88 88 88 108 108 108 108 108 108 96 80 66 53 41September 2017 . . . . . . 81 81 81 81 81 81 113 113 113 113 113 113 94 70 52 36 22September 2018 . . . . . . 74 74 74 74 74 0 117 117 117 117 117 103 92 62 40 22 8September 2019 . . . . . . 67 67 67 67 67 0 122 122 122 122 122 52 90 54 29 11 0September 2020 . . . . . . 60 60 60 60 45 0 127 127 127 127 127 26 88 46 20 2 0September 2021 . . . . . . 52 52 52 52 0 0 132 132 132 132 107 13 85 39 13 0 0September 2022 . . . . . . 44 44 44 3 0 0 138 138 138 138 72 7 82 33 6 0 0September 2023 . . . . . . 35 35 35 0 0 0 143 143 143 102 49 3 80 26 0 0 0September 2024 . . . . . . 27 27 27 0 0 0 149 149 149 75 33 2 77 21 0 0 0September 2025 . . . . . . 18 18 18 0 0 0 155 155 155 55 22 1 74 16 0 0 0September 2026 . . . . . . 8 8 8 0 0 0 161 161 161 40 15 * 70 11 0 0 0September 2027 . . . . . . 0 0 0 0 0 0 167 167 167 29 10 * 67 6 0 0 0September 2028 . . . . . . 0 0 0 0 0 0 167 167 160 21 7 * 63 2 0 0 0September 2029 . . . . . . 0 0 0 0 0 0 167 167 133 15 4 * 59 0 0 0 0September 2030 . . . . . . 0 0 0 0 0 0 167 167 109 10 3 * 55 0 0 0 0September 2031 . . . . . . 0 0 0 0 0 0 167 167 89 7 2 * 51 0 0 0 0September 2032 . . . . . . 0 0 0 0 0 0 167 167 72 5 1 * 46 0 0 0 0September 2033 . . . . . . 0 0 0 0 0 0 167 167 57 4 1 * 42 0 0 0 0September 2034 . . . . . . 0 0 0 0 0 0 167 167 45 2 * * 37 0 0 0 0September 2035 . . . . . . 0 0 0 0 0 0 167 137 34 2 * * 31 0 0 0 0September 2036 . . . . . . 0 0 0 0 0 0 167 109 26 1 * * 25 0 0 0 0September 2037 . . . . . . 0 0 0 0 0 0 167 83 18 1 * * 20 0 0 0 0September 2038 . . . . . . 0 0 0 0 0 0 167 59 12 * * * 13 0 0 0 0September 2039 . . . . . . 0 0 0 0 0 0 167 37 7 * * * 6 0 0 0 0September 2040 . . . . . . 0 0 0 0 0 0 167 16 3 * * * 0 0 0 0 0September 2041 . . . . . . 0 0 0 0 0 0 167 0 0 0 0 0 0 0 0 0 0September 2042 . . . . . . 0 0 0 0 0 0 167 0 0 0 0 0 0 0 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 113 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 7.0 7.0 7.0 5.8 5.0 3.2 29.3 23.2 18.1 11.2 9.1 5.3 16.0 6.1 3.6 2.5 1.9



outstanding.

S-27

VA Class VB Class ZV Class




Date 0% 100% 200% 300% 400% 0% 100% 200% 300% 400% 0% 100% 200% 300% 400%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 92 92 92 92 92 100 100 100 100 100 103 103 103 103 103September 2016 . . . . . . 85 85 85 85 85 100 100 100 100 100 106 106 106 106 106September 2017 . . . . . . 77 77 77 77 77 100 100 100 100 100 109 109 109 109 109September 2018 . . . . . . 68 68 68 68 68 100 100 100 100 100 113 113 113 113 113September 2019 . . . . . . 60 60 60 60 22 100 100 100 100 100 116 116 116 116 116September 2020 . . . . . . 51 51 51 51 0 100 100 100 100 0 120 120 120 120 117September 2021 . . . . . . 42 42 42 0 0 100 100 100 69 0 123 123 123 123 86September 2022 . . . . . . 33 33 33 0 0 100 100 100 0 0 127 127 127 116 63September 2023 . . . . . . 23 23 22 0 0 100 100 100 0 0 131 131 131 92 46September 2024 . . . . . . 13 13 0 0 0 100 100 35 0 0 135 135 135 72 34September 2025 . . . . . . 3 3 0 0 0 100 100 0 0 0 139 139 124 57 25September 2026 . . . . . . 0 0 0 0 0 91 91 0 0 0 143 143 104 45 18September 2027 . . . . . . 0 0 0 0 0 78 78 0 0 0 148 148 87 35 13September 2028 . . . . . . 0 0 0 0 0 64 64 0 0 0 152 152 73 27 9September 2029 . . . . . . 0 0 0 0 0 50 15 0 0 0 157 157 60 21 7September 2030 . . . . . . 0 0 0 0 0 36 0 0 0 0 162 142 50 16 5September 2031 . . . . . . 0 0 0 0 0 21 0 0 0 0 166 125 41 12 3September 2032 . . . . . . 0 0 0 0 0 6 0 0 0 0 171 108 33 9 2September 2033 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 92 26 7 2September 2034 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 78 21 5 1September 2035 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 65 16 4 1September 2036 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 53 12 3 *September 2037 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 41 9 2 *September 2038 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 31 6 1 *September 2039 . . . . . . 0 0 0 0 0 0 0 0 0 0 173 21 4 1 *September 2040 . . . . . . 0 0 0 0 0 0 0 0 0 0 170 13 2 * *September 2041 . . . . . . 0 0 0 0 0 0 0 0 0 0 131 4 1 * *September 2042 . . . . . . 0 0 0 0 0 0 0 0 0 0 90 0 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 0 46 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 6.0 6.0 5.8 4.8 4.0 15.0 14.0 9.9 7.2 5.6 28.1 20.4 15.4 11.7 9.1

M, MF, MS†, MK, ML,MN and MQ Classes PO and SX Classes AS Class




Date 0% 100% 350% 700% 1000% 1400% 0% 100% 200% 400% 500% 800% 0% 100% 200% 400% 500% 800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 99 91 77 56 39 16 100 100 77 21 0 0 100 100 24 0 0 0September 2016 . . . . . . 98 83 59 32 15 2 100 100 58 0 0 0 100 100 0 0 0 0September 2017 . . . . . . 97 75 45 18 6 * 100 100 43 0 0 0 100 100 0 0 0 0September 2018 . . . . . . 96 68 34 10 2 * 100 100 32 0 0 0 100 100 0 0 0 0September 2019 . . . . . . 95 61 26 5 1 * 100 100 25 0 0 0 100 100 0 0 0 0September 2020 . . . . . . 94 54 19 3 * * 100 100 21 0 0 0 100 100 0 0 0 0September 2021 . . . . . . 92 48 14 2 * * 100 100 19 0 0 0 100 100 0 0 0 0September 2022 . . . . . . 91 43 11 1 * * 100 100 18 0 0 0 100 100 0 0 0 0September 2023 . . . . . . 89 37 8 * * * 100 100 17 0 0 0 100 100 0 0 0 0September 2024 . . . . . . 88 32 6 * * 0 100 100 16 0 0 0 100 100 0 0 0 0September 2025 . . . . . . 86 28 4 * * 0 100 100 14 0 0 0 100 100 0 0 0 0September 2026 . . . . . . 84 23 3 * * 0 100 100 13 0 0 0 100 100 0 0 0 0September 2027 . . . . . . 82 19 2 * * 0 100 99 11 0 0 0 100 96 0 0 0 0September 2028 . . . . . . 79 15 1 * * 0 100 92 10 0 0 0 100 73 0 0 0 0September 2029 . . . . . . 77 12 1 * * 0 100 84 9 0 0 0 100 48 0 0 0 0September 2030 . . . . . . 74 8 1 * * 0 100 77 8 0 0 0 100 22 0 0 0 0September 2031 . . . . . . 71 5 * * * 0 100 69 7 0 0 0 100 0 0 0 0 0September 2032 . . . . . . 68 2 * * 0 0 100 61 5 0 0 0 100 0 0 0 0 0September 2033 . . . . . . 64 0 0 0 0 0 100 53 5 0 0 0 100 0 0 0 0 0September 2034 . . . . . . 60 0 0 0 0 0 100 46 4 0 0 0 100 0 0 0 0 0September 2035 . . . . . . 56 0 0 0 0 0 100 39 3 0 0 0 100 0 0 0 0 0September 2036 . . . . . . 52 0 0 0 0 0 100 32 2 0 0 0 100 0 0 0 0 0September 2037 . . . . . . 47 0 0 0 0 0 100 25 2 0 0 0 100 0 0 0 0 0September 2038 . . . . . . 42 0 0 0 0 0 100 18 1 0 0 0 100 0 0 0 0 0September 2039 . . . . . . 36 0 0 0 0 0 100 12 1 0 0 0 100 0 0 0 0 0September 2040 . . . . . . 30 0 0 0 0 0 92 6 * 0 0 0 73 0 0 0 0 0September 2041 . . . . . . 23 0 0 0 0 0 59 1 * 0 0 0 0 0 0 0 0 0September 2042 . . . . . . 16 0 0 0 0 0 22 * * 0 0 0 0 0 0 0 0 0September 2043 . . . . . . 8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 20.5 7.6 3.6 1.8 1.1 0.6 27.2 19.7 4.7 0.7 0.5 0.3 26.2 14.9 0.7 0.2 0.2 0.1



outstanding.

S-28

BS Class IO† Class



Date 0% 100% 200% 400% 500% 800% 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 100 100 100 29 0 0 99 95 94 93 89 79 69 59 38September 2016 . . . . . . 100 100 82 0 0 0 98 88 86 84 73 52 34 19 0September 2017 . . . . . . 100 100 61 0 0 0 96 81 78 75 58 33 15 5 0September 2018 . . . . . . 100 100 46 0 0 0 95 75 71 66 47 20 7 1 0September 2019 . . . . . . 100 100 36 0 0 0 94 69 64 59 38 13 3 * 0September 2020 . . . . . . 100 100 30 0 0 0 92 63 58 52 30 8 1 * 0September 2021 . . . . . . 100 100 28 0 0 0 90 58 52 46 24 5 1 * 0September 2022 . . . . . . 100 100 26 0 0 0 89 53 47 41 19 3 * * 0September 2023 . . . . . . 100 100 24 0 0 0 87 48 42 36 15 2 * * 0September 2024 . . . . . . 100 100 22 0 0 0 85 44 38 31 12 1 * * 0September 2025 . . . . . . 100 100 20 0 0 0 83 40 34 28 10 1 * * 0September 2026 . . . . . . 100 100 18 0 0 0 80 36 30 24 8 * * * 0September 2027 . . . . . . 100 100 16 0 0 0 78 33 27 21 6 * * * 0September 2028 . . . . . . 100 100 14 0 0 0 75 29 24 18 5 * * * 0September 2029 . . . . . . 100 100 13 0 0 0 73 26 21 16 4 * * 0 0September 2030 . . . . . . 100 100 11 0 0 0 70 23 18 14 3 * * 0 0September 2031 . . . . . . 100 98 9 0 0 0 66 21 16 12 2 * * 0 0September 2032 . . . . . . 100 87 8 0 0 0 63 18 14 10 2 * * 0 0September 2033 . . . . . . 100 76 7 0 0 0 59 16 12 8 1 * * 0 0September 2034 . . . . . . 100 66 5 0 0 0 56 14 10 7 1 * * 0 0September 2035 . . . . . . 100 55 4 0 0 0 52 12 8 6 1 * * 0 0September 2036 . . . . . . 100 45 3 0 0 0 47 10 7 5 1 * * 0 0September 2037 . . . . . . 100 35 2 0 0 0 43 8 6 4 * * 0 0 0September 2038 . . . . . . 100 26 2 0 0 0 38 7 4 3 * * 0 0 0September 2039 . . . . . . 100 17 1 0 0 0 32 5 3 2 * * 0 0 0September 2040 . . . . . . 100 9 * 0 0 0 27 4 2 1 * * 0 0 0September 2041 . . . . . . 84 2 * 0 0 0 21 2 2 1 * * 0 0 0September 2042 . . . . . . 32 * * 0 0 0 14 1 1 * * * 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 7 * * * * * 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 27.7 21.7 6.4 0.8 0.6 0.3 19.6 10.3 9.2 8.1 5.0 2.7 1.8 1.4 0.8

PA, PE, PT, PH and PI† Classes PB Class



Date 0% 100% 125% 155% 300% 600% 900% 1200% 1800% 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 98 91 90 90 90 90 90 77 41 100 100 100 100 100 100 100 100 100September 2016 . . . . . . 96 79 76 76 76 65 34 9 0 100 100 100 100 100 100 100 100 0September 2017 . . . . . . 94 67 62 62 62 31 1 0 0 100 100 100 100 100 100 100 0 0September 2018 . . . . . . 91 56 49 49 49 10 0 0 0 100 100 100 100 100 100 0 0 0September 2019 . . . . . . 89 46 37 37 37 0 0 0 0 100 100 100 100 100 66 0 0 0September 2020 . . . . . . 86 36 27 27 27 0 0 0 0 100 100 100 100 100 0 0 0 0September 2021 . . . . . . 83 27 17 17 17 0 0 0 0 100 100 100 100 100 0 0 0 0September 2022 . . . . . . 80 18 8 8 8 0 0 0 0 100 100 100 100 100 0 0 0 0September 2023 . . . . . . 77 10 1 1 1 0 0 0 0 100 100 100 100 100 0 0 0 0September 2024 . . . . . . 73 2 0 0 0 0 0 0 0 100 100 55 55 55 0 0 0 0September 2025 . . . . . . 70 0 0 0 0 0 0 0 0 100 49 7 7 7 0 0 0 0September 2026 . . . . . . 66 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2027 . . . . . . 61 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2028 . . . . . . 57 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2029 . . . . . . 52 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2030 . . . . . . 47 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2031 . . . . . . 41 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2032 . . . . . . 36 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2033 . . . . . . 29 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2034 . . . . . . 23 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2035 . . . . . . 15 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2036 . . . . . . 8 0 0 0 0 0 0 0 0 100 0 0 0 0 0 0 0 0September 2037 . . . . . . 0 0 0 0 0 0 0 0 0 97 0 0 0 0 0 0 0 0September 2038 . . . . . . 0 0 0 0 0 0 0 0 0 4 0 0 0 0 0 0 0 0September 2039 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2040 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2041 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2042 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 14.3 4.8 4.2 4.2 4.2 2.5 1.8 1.4 0.9 23.5 11.0 10.2 10.2 10.2 5.2 3.4 2.4 1.4



outstanding.

S-29

PC Class PD Class



Date 0% 100% 125% 155% 300% 600% 900% 1200% 1800% 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2016 . . . . . . 100 100 100 100 100 100 100 100 0 100 100 100 100 100 100 100 100 0September 2017 . . . . . . 100 100 100 100 100 100 100 50 0 100 100 100 100 100 100 100 100 0September 2018 . . . . . . 100 100 100 100 100 100 70 1 0 100 100 100 100 100 100 100 100 0September 2019 . . . . . . 100 100 100 100 100 100 22 0 0 100 100 100 100 100 100 100 29 0September 2020 . . . . . . 100 100 100 100 100 84 * 0 0 100 100 100 100 100 100 100 8 0September 2021 . . . . . . 100 100 100 100 100 46 0 0 0 100 100 100 100 100 100 45 2 0September 2022 . . . . . . 100 100 100 100 100 22 0 0 0 100 100 100 100 100 100 20 1 0September 2023 . . . . . . 100 100 100 100 100 7 0 0 0 100 100 100 100 100 100 9 * 0September 2024 . . . . . . 100 100 100 100 100 0 0 0 0 100 100 100 100 100 86 4 * 0September 2025 . . . . . . 100 100 100 100 100 0 0 0 0 100 100 100 100 100 53 2 * 0September 2026 . . . . . . 100 85 79 79 79 0 0 0 0 100 100 100 100 100 33 1 * 0September 2027 . . . . . . 100 58 58 58 58 0 0 0 0 100 100 100 100 100 20 * * 0September 2028 . . . . . . 100 42 42 42 42 0 0 0 0 100 100 100 100 100 12 * * 0September 2029 . . . . . . 100 29 29 29 29 0 0 0 0 100 100 100 100 100 8 * * 0September 2030 . . . . . . 100 19 19 19 19 0 0 0 0 100 100 100 100 100 5 * * 0September 2031 . . . . . . 100 10 10 10 10 0 0 0 0 100 100 100 100 100 3 * * 0September 2032 . . . . . . 100 4 4 4 4 0 0 0 0 100 100 100 100 100 2 * * 0September 2033 . . . . . . 100 0 0 0 0 0 0 0 0 100 93 93 93 93 1 * 0 0September 2034 . . . . . . 100 0 0 0 0 0 0 0 0 100 70 70 70 70 1 * 0 0September 2035 . . . . . . 100 0 0 0 0 0 0 0 0 100 52 52 52 52 * * 0 0September 2036 . . . . . . 100 0 0 0 0 0 0 0 0 100 38 38 38 38 * * 0 0September 2037 . . . . . . 100 0 0 0 0 0 0 0 0 100 27 27 27 27 * * 0 0September 2038 . . . . . . 100 0 0 0 0 0 0 0 0 100 19 19 19 19 * * 0 0September 2039 . . . . . . 35 0 0 0 0 0 0 0 0 100 13 13 13 13 * * 0 0September 2040 . . . . . . 0 0 0 0 0 0 0 0 0 8 8 8 8 8 * * 0 0September 2041 . . . . . . 0 0 0 0 0 0 0 0 0 5 5 5 5 5 * * 0 0September 2042 . . . . . . 0 0 0 0 0 0 0 0 0 2 2 2 2 2 * 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 24.8 14.0 13.9 13.9 13.9 7.1 4.5 3.1 1.6 25.8 21.8 21.8 21.8 21.8 11.8 7.3 4.8 1.8

UF and US Classes PQ Class



Date 0% 100% 125% 155% 300% 600% 900% 1200% 1800% 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 100 100 100 97 80 45 10 0 0 100 100 100 100 100 100 100 100 100September 2016 . . . . . . 100 100 100 91 52 0 0 0 0 100 100 100 100 100 100 100 100 0September 2017 . . . . . . 100 100 100 87 30 0 0 0 0 100 100 100 100 100 100 100 37 0September 2018 . . . . . . 100 100 100 84 15 0 0 0 0 100 100 100 100 100 100 48 10 0September 2019 . . . . . . 100 100 100 81 6 0 0 0 0 100 100 100 100 100 88 21 3 0September 2020 . . . . . . 100 100 100 79 1 0 0 0 0 100 100 100 100 100 55 10 1 0September 2021 . . . . . . 100 100 100 78 * 0 0 0 0 100 100 100 100 100 34 4 * 0September 2022 . . . . . . 100 100 99 76 * 0 0 0 0 100 100 100 100 100 21 2 * 0September 2023 . . . . . . 100 100 96 73 * 0 0 0 0 100 100 100 100 100 13 1 * 0September 2024 . . . . . . 100 100 91 68 * 0 0 0 0 100 100 84 84 84 8 * * 0September 2025 . . . . . . 100 100 86 64 * 0 0 0 0 100 82 66 66 66 5 * * 0September 2026 . . . . . . 100 100 80 59 * 0 0 0 0 100 56 52 52 52 3 * * 0September 2027 . . . . . . 100 95 74 53 * 0 0 0 0 100 41 41 41 41 2 * * 0September 2028 . . . . . . 100 88 67 48 * 0 0 0 0 100 32 32 32 32 1 * * 0September 2029 . . . . . . 100 81 61 43 * 0 0 0 0 100 25 25 25 25 1 * * 0September 2030 . . . . . . 100 73 55 38 * 0 0 0 0 100 20 20 20 20 * * * 0September 2031 . . . . . . 100 66 49 33 * 0 0 0 0 100 15 15 15 15 * * 0 0September 2032 . . . . . . 100 59 43 29 * 0 0 0 0 100 12 12 12 12 * * 0 0September 2033 . . . . . . 100 52 38 25 * 0 0 0 0 100 9 9 9 9 * * 0 0September 2034 . . . . . . 100 46 32 21 * 0 0 0 0 100 7 7 7 7 * * 0 0September 2035 . . . . . . 100 39 28 18 * 0 0 0 0 100 5 5 5 5 * * 0 0September 2036 . . . . . . 100 33 23 14 * 0 0 0 0 100 4 4 4 4 * * 0 0September 2037 . . . . . . 100 28 19 12 * 0 0 0 0 99 3 3 3 3 * * 0 0September 2038 . . . . . . 100 22 15 9 * 0 0 0 0 65 2 2 2 2 * * 0 0September 2039 . . . . . . 100 17 11 7 * 0 0 0 0 29 1 1 1 1 * 0 0 0September 2040 . . . . . . 94 12 8 5 * 0 0 0 0 1 1 1 1 1 * 0 0 0September 2041 . . . . . . 73 8 5 3 * 0 0 0 0 * * * * * * 0 0 0September 2042 . . . . . . 50 4 2 1 * 0 0 0 0 * * * * * * 0 0 0September 2043 . . . . . . 26 * * * * 0 0 0 0 * * * * * * 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 28.0 19.8 17.4 13.5 2.3 0.9 0.6 0.5 0.3 24.4 13.7 13.3 13.3 13.3 6.9 4.3 3.0 1.5


Distribution Dates” in the REMIC Prospectus.

S-30

PJ, PU, PK, IP† and KQ Classes PN Class



Date 0% 100% 125% 155% 300% 600% 900% 1200% 1800% 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 98 92 91 91 91 91 91 79 46 100 100 100 100 100 100 100 100 100September 2016 . . . . . . 96 81 78 78 78 68 40 16 0 100 100 100 100 100 100 100 100 0September 2017 . . . . . . 94 70 65 65 65 37 10 0 0 100 100 100 100 100 100 100 58 0September 2018 . . . . . . 92 60 53 53 53 18 0 0 0 100 100 100 100 100 100 75 16 0September 2019 . . . . . . 90 50 43 43 43 6 0 0 0 100 100 100 100 100 100 34 4 0September 2020 . . . . . . 87 41 33 33 33 0 0 0 0 100 100 100 100 100 86 15 1 0September 2021 . . . . . . 85 33 24 24 24 0 0 0 0 100 100 100 100 100 54 7 * 0September 2022 . . . . . . 82 25 16 16 16 0 0 0 0 100 100 100 100 100 33 3 * 0September 2023 . . . . . . 79 18 10 10 10 0 0 0 0 100 100 100 100 100 21 1 * 0September 2024 . . . . . . 76 11 5 5 5 0 0 0 0 100 100 100 100 100 13 1 * 0September 2025 . . . . . . 72 4 1 1 1 0 0 0 0 100 100 100 100 100 8 * * 0September 2026 . . . . . . 69 0 0 0 0 0 0 0 0 100 87 82 82 82 5 * * 0September 2027 . . . . . . 65 0 0 0 0 0 0 0 0 100 65 65 65 65 3 * * 0September 2028 . . . . . . 61 0 0 0 0 0 0 0 0 100 51 51 51 51 2 * * 0September 2029 . . . . . . 56 0 0 0 0 0 0 0 0 100 40 40 40 40 1 * * 0September 2030 . . . . . . 51 0 0 0 0 0 0 0 0 100 31 31 31 31 1 * * 0September 2031 . . . . . . 46 0 0 0 0 0 0 0 0 100 24 24 24 24 * * 0 0September 2032 . . . . . . 41 0 0 0 0 0 0 0 0 100 18 18 18 18 * * 0 0September 2033 . . . . . . 35 0 0 0 0 0 0 0 0 100 14 14 14 14 * * 0 0September 2034 . . . . . . 29 0 0 0 0 0 0 0 0 100 10 10 10 10 * * 0 0September 2035 . . . . . . 23 0 0 0 0 0 0 0 0 100 8 8 8 8 * * 0 0September 2036 . . . . . . 16 0 0 0 0 0 0 0 0 100 6 6 6 6 * * 0 0September 2037 . . . . . . 8 0 0 0 0 0 0 0 0 100 4 4 4 4 * * 0 0September 2038 . . . . . . * 0 0 0 0 0 0 0 0 100 3 3 3 3 * * 0 0September 2039 . . . . . . 0 0 0 0 0 0 0 0 0 45 2 2 2 2 * * 0 0September 2040 . . . . . . 0 0 0 0 0 0 0 0 0 1 1 1 1 1 * 0 0 0September 2041 . . . . . . 0 0 0 0 0 0 0 0 0 1 1 1 1 1 * 0 0 0September 2042 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 15.0 5.4 4.7 4.7 4.7 2.7 1.9 1.5 1.0 25.0 15.2 15.1 15.1 15.1 7.8 4.9 3.4 1.6

P, PL, PM, IM† and MP Classes JP Class



Date 0% 100% 125% 155% 300% 600% 900% 1200% 1800% 0% 100% 125% 155% 300% 600% 900% 1200% 1800%

Initial Percent . . . . . . . . 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100September 2015 . . . . . . 98 93 92 92 92 92 92 81 52 98 93 92 92 92 92 92 82 53September 2016 . . . . . . 97 83 80 80 80 72 46 26 0 97 84 81 81 81 72 47 27 0September 2017 . . . . . . 95 74 69 69 69 44 20 6 0 95 74 70 70 70 45 21 7 0September 2018 . . . . . . 93 64 59 59 59 27 8 * 0 93 65 59 59 59 28 10 2 0September 2019 . . . . . . 91 56 49 49 49 16 2 0 0 91 57 50 50 50 18 4 1 0September 2020 . . . . . . 89 48 40 40 40 9 * 0 0 89 49 41 41 41 11 2 * 0September 2021 . . . . . . 86 40 32 32 32 5 0 0 0 87 41 34 34 34 7 1 * 0September 2022 . . . . . . 84 33 25 25 25 2 0 0 0 84 35 27 27 27 4 * * 0September 2023 . . . . . . 81 27 20 20 20 1 0 0 0 82 28 21 21 21 3 * * 0September 2024 . . . . . . 78 21 15 15 15 0 0 0 0 79 22 17 17 17 2 * * 0September 2025 . . . . . . 75 15 12 12 12 0 0 0 0 76 17 13 13 13 1 * * 0September 2026 . . . . . . 72 10 9 9 9 0 0 0 0 73 11 11 11 11 1 * * 0September 2027 . . . . . . 69 7 7 7 7 0 0 0 0 69 8 8 8 8 * * * 0September 2028 . . . . . . 65 5 5 5 5 0 0 0 0 66 7 7 7 7 * * * 0September 2029 . . . . . . 61 3 3 3 3 0 0 0 0 62 5 5 5 5 * * * 0September 2030 . . . . . . 57 2 2 2 2 0 0 0 0 58 4 4 4 4 * * 0 0September 2031 . . . . . . 52 1 1 1 1 0 0 0 0 53 3 3 3 3 * * 0 0September 2032 . . . . . . 48 * * * * 0 0 0 0 49 2 2 2 2 * * 0 0September 2033 . . . . . . 43 0 0 0 0 0 0 0 0 44 2 2 2 2 * * 0 0September 2034 . . . . . . 37 0 0 0 0 0 0 0 0 38 1 1 1 1 * * 0 0September 2035 . . . . . . 31 0 0 0 0 0 0 0 0 33 1 1 1 1 * * 0 0September 2036 . . . . . . 25 0 0 0 0 0 0 0 0 27 1 1 1 1 * * 0 0September 2037 . . . . . . 18 0 0 0 0 0 0 0 0 20 1 1 1 1 * * 0 0September 2038 . . . . . . 11 0 0 0 0 0 0 0 0 13 * * * * * 0 0 0September 2039 . . . . . . 4 0 0 0 0 0 0 0 0 6 * * * * * 0 0 0September 2040 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2041 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2042 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2043 . . . . . . 0 0 0 0 0 0 0 0 0 * * * * * * 0 0 0September 2044 . . . . . . 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0Weighted Average

Life (years)** . . . . . . . 16.1 6.3 5.7 5.7 5.7 3.2 2.2 1.6 1.0 16.3 6.6 6.0 6.0 6.0 3.4 2.3 1.7 1.1



outstanding.

S-31

Characteristics of the Residual Class

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

REMIC Election and Special Tax Attributes

We will make a REMIC election with respect to the 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 Class will be designated as the “residual interest” in theREMIC 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 Class, 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, the Notional Classes and the Principal Only Class will be issued withoriginal issue discount (“OID”), and certain other Classes of REMIC Certificates may be issued withOID. If a Class is issued with OID, a beneficial owner of a Certificate of that Class generally mustrecognize some taxable income in advance of the receipt of the cash attributable to that income. See“Material Federal Income Tax Consequences—Taxation of Beneficial Owners of Regular Certifi-cates—Treatment of Original Issue Discount” in the REMIC Prospectus. In addition, certain Classesof REMIC Certificates may be treated as having been issued at a premium. See “Material FederalIncome Tax Consequences—Taxation of Beneficial Owners of Regular Certificates—Regular Certifi-cates Purchased at a Premium” in the REMIC Prospectus.

S-32

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

Group Prepayment Assumption

1 100% PSA2 180% PSA3 200% PSA4 200% PSA5 15% CPR6 200% PSA7 100% PSA8 350% PSA9 200% PSA

10 155% 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.

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.

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 the RCRCertificates will represent an ownership interest of the underlying Regular Certificates. For ageneral discussion of the federal income tax treatment of beneficial owners of Regular Certificates,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 PE, PI, PT, PH, PJ, IP, PU, PK, P, IM, PL and PM Classes of RCR Certificates are Strip RCRCertificates. The remaining Classes of RCR Certificates are Combination RCR Certificates. See“Material Federal Income Tax Consequences—Taxation of Beneficial Owners of RCR Certificates”in the REMIC Prospectus for a general discussion of the federal income tax treatment of beneficialowners of RCR Certificates.

S-33

PLAN OF DISTRIBUTION

We are obligated to deliver the Certificates (other than the Group 5 Classes) to BarclaysCapital Inc. (the “Dealer”) in exchange for the Underlying REMIC and RCR Certificates and theFixed Rate MBS.

We will deliver the Group 5 MBS to the Trust in exchange for the Group 5 Classes. We areobligated to deliver $100,000,000 initial notional principal amount of the SA Class Certificates tothe Dealer for aggregate cash proceeds estimated to be approximately $7,481,100. We initially willretain all of the FA Class Certificates and $153,820,679 initial notional principal amount of theSA Class Certificates, and may sell some or all of the retained FA and SA Class Certificates fromtime to time in negotiated transactions at varying prices to be determined at the time of sale.

The Dealer proposes to offer the Certificates (other than the FA and SA Class Certificatesinitially retained by us) directly to the public from time to time in negotiated transactions atvarying prices to be determined at the time of sale. The Dealer may effect these transactions to orthrough other dealers.

LEGAL MATTERS

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

S-34

Exhibit A-1

Group 1 Underlying RCR Certificates

UnderlyingREMICTrust Class

Dateof

IssueCUSIP

NumberInterest

RateInterestType(1)

FinalDistribution

DatePrincipalType(1)

OriginalPrincipalBalanceof Class

September2014Class

Factor

PrincipalBalance inthe Trust

ApproximateWeightedAverage

WAC


WAM(in months)

ApproximateWeightedAverageWALA

(in months)

2013-101 AE September 2013 3136AGC26 3.0% FIX October 2033 SEQ $29,848,863 1.00000000 $8,000,000.00 3.567% 213 212013-101 E September 2013 3136AGA69 3.0 FIX October 2033 SEQ 27,502,855 1.00000000 2,050,000.00 3.824 214 22

(1) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.

Group 3 Underlying REMIC Certificates


Dateof

IssueCUSIP

NumberInterest

RateInterestType(1)

FinalDistribution



September2014Class

Factor



WAC


WAM(in months)


(in months)

2014-40 LS(2) June 2014 3136AKLQ4 (3) INV March 2043 SC/SEQ $2,084,678 1.00000000 $2,084,678.00 4.452% 308 452014-40 SA(2) June 2014 3136AKLP6 (3) INV March 2043 SC/SEQ 3,127,016 0.90155736 2,683,950.69 4.452 308 45

(1) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.(2) The Class 2014-40-LS and SA REMIC Certificates are backed by the Fannie Mae REMIC certificate listed below having the following characteristics:

ClassInterest

TypePrincipal

Type

2013-20-DS INV SUP

(3) These classes bear interest as described in the related Underlying REMIC Disclosure Document.

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 4 Underlying REMIC Certificate


Dateof

IssueCUSIP

NumberInterest

RateInterestType(1)

FinalDistribution



September2014Class

Factor



WAC


WAM(in months)


(in months)

2013-120 HS(2) November 2013 3136AHHD5 (3) INV November 2042 SC/PT $5,853,251 0.99034356 $5,796,729.43 3.692% 342 15

(1) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.(2) The Class 2013-120-HS REMIC Certificate is backed by the Fannie Mae RCR certificate listed below having the following characteristics:

ClassInterest

TypePrincipal

Type

2013-109-HP FIX SUP/AD

(3) This class bears interest as described in the related Underlying REMIC Disclosure Document.

Group 9 Underlying REMIC Certificate


Dateof

IssueCUSIP

NumberInterest

RateInterestType(1)

FinalDistribution



September2014Class

Factor



WAC


WAM(in months)


(in months)

2013-43 SX April 2013 3136AD2A6 (2) INV May 2043 SUP $28,290,263 0.82318315 $20,373,999.46 4.486% 326 24

(1) See “Description of the Certificates—Class Definitions and Abbreviations” in the REMIC Prospectus.(2) This class bears interest as described in the related Underlying REMIC Disclosure Document.

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

Exhibit A-2

Assumed Characteristics of the Mortgage Loans Underlying the ARM MBS(As of September 1, 2014)

IssueDate

UnpaidPrincipalBalance

NetMortgageRate* (%)

MortgageRate(%)

OriginalTerm

(in months)

RemainingTerm toMaturity

(in months)Loan Age

(in months)Margin

(%)

InitialRateCap(%)

PeriodicRateCap(%)

LifetimeRateCap(%)

LifetimeRateFloor

(%)

Monthsto RateChange

RateReset

Frequency(in months)

PaymentReset

Frequency(in months) Index**

$43,248,817.02 2.183 2.828 360 250 110 2.296 *** 2.000 10.3949 2.2960 10 12 12 WSJ 1-YEAR LIBOR34,099,505.01 2.313 2.888 360 251 108 2.282 *** 2.000 10.4043 2.2820 6 12 12 WSJ 1-YEAR LIBOR44,530,314.38 2.283 2.844 360 252 108 2.308 *** 2.000 10.4676 2.3080 9 12 12 WSJ 1-YEAR LIBOR41,679,790.24 2.251 2.871 360 253 107 2.281 *** 2.000 10.5493 2.2810 4 12 12 WSJ 1-YEAR LIBOR38,635,968.40 2.323 2.855 359 248 111 2.261 *** 2.000 10.2722 2.2610 6 12 12 WSJ 1-YEAR LIBOR51,626,284.19 2.461 2.806 359 237 123 2.250 *** 2.000 9.7633 2.2500 6 12 12 WSJ 1-YEAR LIBOR

* The “Net Mortgage Rate” of a Hybrid ARM Loan is equal to its then current interest rate less the sum of the related servicing fee and our guaranty fee (expressed ineach case as an annual percentage).

** For a description of this Index, see “The Mortgage Loans—Adjustable-Rate Mortgage Loans (ARM Loans)—ARM Indices” in the MBS Prospectus.*** We have assumed that all applicable initial fixed-rate periods have expired and that all initial rate adjustments have occurred.

Expected ARM MBS

The pool numbers of the adjustable-rate MBS expected to be included in the Trust are listed below:

Pool NumberIssue Date UnpaidPrincipal Balance

735877 $43,248,817.02735982 34,099,505.01735983 44,530,314.38745142 41,679,790.24888855 38,635,968.40922672 51,626,284.19

A-3

Schedule 1

Available Recombinations(1)

REMIC Certificates RCR Certificates

ClassesOriginalBalances

RCRClasses

OriginalBalances

PrincipalType(2)

InterestRate

InterestType(2)

CUSIPNumber

FinalDistribution

Date

Recombination 1M $ 20,806,695 MK $ 22,107,114 PT 2.50% FIX 3136ALGW5 October 2044MF 1,300,419MS 1,300,419(3)

Recombination 2M 20,806,695 ML 23,580,921 PT 2.75 FIX 3136ALGX3 October 2044MF 2,774,226MS 2,774,226(3)

Recombination 3M 20,806,695 MN 25,265,273 PT 3.00 FIX 3136ALGY1 October 2044MF 4,458,578MS 4,458,578(3)

Recombination 4M 20,806,695 MQ 29,476,152 PT 3.50 FIX 3136ALGZ8 October 2044MF 8,669,457MS 8,669,457(3)

Recombination 5AS 3,056,100 SX 10,186,999 SC/PT (4) INV 3136ALHA2 May 2043BS 7,130,899

Recombination 6PA 151,174,000 PE 151,174,000 PAC 2.25 FIX 3136ALHB0 November 2041

PI 47,241,875(3) NTL 4.00 FIX/IO 3136ALHE4 November 2041Recombination 7

PA 151,174,000 PT 151,174,000 PAC 2.50 FIX 3136ALHC8 November 2041PI 37,793,500(3) NTL 4.00 FIX/IO 3136ALHE4 November 2041

Recombination 8PA 151,174,000 PH 151,174,000 PAC 3.00 FIX 3136ALHD6 November 2041

PI 18,896,750(3) NTL 4.00 FIX/IO 3136ALHE4 November 2041

A-4



RCRClasses

OriginalBalances

PrincipalType(2)

InterestRate

InterestType(2)

CUSIPNumber

FinalDistribution

Date

Recombination 9PB $ 13,962,000 PQ $ 38,405,000 PAC 3.50% FIX 3136ALHF1 October 2044PC 20,779,000PD 3,664,000

Recombination 10PA 151,174,000 PJ 165,136,000 PAC 2.50 FIX 3136ALHG9 January 2043PB 13,962,000 IP 41,284,000(3) NTL 4.00 FIX/IO 3136ALHK0 January 2043

Recombination 11PA 151,174,000 PU 165,136,000 PAC 2.75 FIX 3136ALHH7 January 2043PB 13,962,000 IP 30,963,000(3) NTL 4.00 FIX/IO 3136ALHK0 January 2043

Recombination 12PA 151,174,000 PK 165,136,000 PAC 3.00 FIX 3136ALHJ3 January 2043PB 13,962,000 IP 20,642,000(3) NTL 4.00 FIX/IO 3136ALHK0 January 2043

Recombination 13PA 151,174,000 KQ 165,136,000 PAC 3.50 FIX 3136ALHL8 January 2043PB 13,962,000

Recombination 14PC 20,779,000 PN 24,443,000 PAC 3.50 FIX 3136ALHM6 October 2044PD 3,664,000

Recombination 15PA 151,174,000 P 185,915,000 PAC 2.50 FIX 3136ALHN4 July 2044PB 13,962,000 IM 46,478,750(3) NTL 4.00 FIX/IO 3136ALHR5 July 2044PC 20,779,000

Recombination 16PA 151,174,000 PL 185,915,000 PAC 2.75 FIX 3136ALHP9 July 2044PB 13,962,000 IM 34,859,063(3) NTL 4.00 FIX/IO 3136ALHR5 July 2044PC 20,779,000

Recombination 17PA 151,174,000 PM 185,915,000 PAC 3.00 FIX 3136ALHQ7 July 2044PB 13,962,000 IM 23,239,375(3) NTL 4.00 FIX/IO 3136ALHR5 July 2044PC 20,779,000

A-5



RCRClasses

OriginalBalances

PrincipalType(2)

InterestRate

InterestType(2)

CUSIPNumber

FinalDistribution

Date

Recombination 18PA $151,174,000 MP $185,915,000 PAC 3.50% FIX 3136ALHT1 July 2044PB 13,962,000PC 20,779,000

Recombination 19PA 151,174,000 JP 189,579,000 PAC 3.50 FIX 3136ALHS3 October 2044PB 13,962,000PC 20,779,000PD 3,664,000

(1) REMIC Certificates and RCR Certificates in each 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 balances. These Classes are Interest Only Classes. See page S-7 for a description of how their notional principal balances are calculated.(4) For a description of this interest rate, see “Summary—Interest Rates” in this prospectus supplement.

A-6

Principal Balance Schedules

Aggregate Group Planned I Balances

DistributionDate

PlannedBalance

Initial Balance . . . . . . $71,090,000.00October 2014 . . . . . . . . 70,209,331.17November 2014 . . . . . 69,335,591.87December 2014 . . . . . . 68,468,724.27January 2015 . . . . . . . 67,608,670.98February 2015 . . . . . . 66,755,375.08March 2015 . . . . . . . . . 65,908,780.11April 2015 . . . . . . . . . . 65,068,830.02May 2015 . . . . . . . . . . 64,235,469.23June 2015 . . . . . . . . . . 63,408,642.59July 2015 . . . . . . . . . . . 62,588,295.38August 2015 . . . . . . . . 61,774,373.33September 2015 . . . . . 60,966,822.57October 2015 . . . . . . . . 60,165,589.68November 2015 . . . . . 59,370,621.65December 2015 . . . . . . 58,581,865.88January 2016 . . . . . . . 57,799,270.19February 2016 . . . . . . 57,022,782.83March 2016 . . . . . . . . . 56,252,352.43April 2016 . . . . . . . . . . 55,487,928.05May 2016 . . . . . . . . . . 54,729,459.12June 2016 . . . . . . . . . . 53,976,895.51July 2016 . . . . . . . . . . . 53,230,187.44August 2016 . . . . . . . . 52,489,285.56September 2016 . . . . . 51,754,140.89October 2016 . . . . . . . . 51,024,704.84November 2016 . . . . . 50,300,929.20December 2016 . . . . . . 49,582,766.15January 2017 . . . . . . . 48,870,168.23February 2017 . . . . . . 48,163,088.37March 2017 . . . . . . . . . 47,461,479.86April 2017 . . . . . . . . . . 46,765,296.36May 2017 . . . . . . . . . . 46,074,491.90June 2017 . . . . . . . . . . 45,389,020.87July 2017 . . . . . . . . . . . 44,708,838.02August 2017 . . . . . . . . 44,033,898.46September 2017 . . . . . 43,364,157.63October 2017 . . . . . . . . 42,699,571.36November 2017 . . . . . 42,040,095.79December 2017 . . . . . . 41,385,687.44January 2018 . . . . . . . 40,736,303.13February 2018 . . . . . . 40,091,900.07March 2018 . . . . . . . . . 39,452,435.77April 2018 . . . . . . . . . . 38,817,868.08May 2018 . . . . . . . . . . 38,188,155.20June 2018 . . . . . . . . . . 37,563,255.63July 2018 . . . . . . . . . . . 36,943,128.24August 2018 . . . . . . . . 36,327,732.17September 2018 . . . . . 35,717,026.92October 2018 . . . . . . . . 35,110,972.29November 2018 . . . . . 34,509,528.42December 2018 . . . . . . 33,912,655.73January 2019 . . . . . . . 33,320,314.97February 2019 . . . . . . 32,732,467.21March 2019 . . . . . . . . . 32,149,073.80April 2019 . . . . . . . . . . 31,570,096.40

DistributionDate

PlannedBalance

May 2019 . . . . . . . . . . $30,995,497.00June 2019 . . . . . . . . . . 30,425,237.85July 2019 . . . . . . . . . . . 29,859,281.52August 2019 . . . . . . . . 29,298,803.27September 2019 . . . . . 28,748,392.63October 2019 . . . . . . . . 28,207,873.67November 2019 . . . . . 27,677,073.44December 2019 . . . . . . 27,155,822.01January 2020 . . . . . . . 26,643,952.31February 2020 . . . . . . 26,141,300.19March 2020 . . . . . . . . . 25,647,704.29April 2020 . . . . . . . . . . 25,163,006.03May 2020 . . . . . . . . . . 24,687,049.56June 2020 . . . . . . . . . . 24,219,681.70July 2020 . . . . . . . . . . . 23,760,751.91August 2020 . . . . . . . . 23,310,112.23September 2020 . . . . . 22,867,617.26October 2020 . . . . . . . . 22,433,124.09November 2020 . . . . . 22,006,492.27December 2020 . . . . . . 21,587,583.78January 2021 . . . . . . . 21,176,262.96February 2021 . . . . . . 20,772,396.48March 2021 . . . . . . . . . 20,375,853.34April 2021 . . . . . . . . . . 19,986,504.77May 2021 . . . . . . . . . . 19,604,224.21June 2021 . . . . . . . . . . 19,228,887.31July 2021 . . . . . . . . . . . 18,860,371.85August 2021 . . . . . . . . 18,498,557.72September 2021 . . . . . 18,143,326.87October 2021 . . . . . . . . 17,794,563.30November 2021 . . . . . 17,452,153.01December 2021 . . . . . . 17,115,983.97January 2022 . . . . . . . 16,785,946.07February 2022 . . . . . . 16,461,931.13March 2022 . . . . . . . . . 16,143,832.80April 2022 . . . . . . . . . . 15,831,546.60May 2022 . . . . . . . . . . 15,524,969.84June 2022 . . . . . . . . . . 15,224,001.61July 2022 . . . . . . . . . . . 14,928,542.74August 2022 . . . . . . . . 14,638,495.80September 2022 . . . . . 14,353,765.00October 2022 . . . . . . . . 14,074,256.25November 2022 . . . . . 13,799,877.06December 2022 . . . . . . 13,530,536.57January 2023 . . . . . . . 13,266,145.46February 2023 . . . . . . 13,006,615.98March 2023 . . . . . . . . . 12,751,861.90April 2023 . . . . . . . . . . 12,501,798.47May 2023 . . . . . . . . . . 12,256,342.43June 2023 . . . . . . . . . . 12,015,411.95July 2023 . . . . . . . . . . . 11,778,926.62August 2023 . . . . . . . . 11,546,807.43September 2023 . . . . . 11,318,976.74October 2023 . . . . . . . . 11,095,358.25November 2023 . . . . . 10,875,877.00December 2023 . . . . . . 10,660,459.32

DistributionDate

PlannedBalance

January 2024 . . . . . . . $10,449,032.83February 2024 . . . . . . 10,241,526.40March 2024 . . . . . . . . . 10,037,870.14April 2024 . . . . . . . . . . 9,837,995.38May 2024 . . . . . . . . . . 9,641,834.63June 2024 . . . . . . . . . . 9,449,321.59July 2024 . . . . . . . . . . . 9,260,391.11August 2024 . . . . . . . . 9,074,979.16September 2024 . . . . . 8,893,022.86October 2024 . . . . . . . . 8,714,460.39November 2024 . . . . . 8,539,231.02December 2024 . . . . . . 8,367,275.08January 2025 . . . . . . . 8,198,533.95February 2025 . . . . . . 8,032,950.01March 2025 . . . . . . . . . 7,870,466.67April 2025 . . . . . . . . . . 7,711,028.30May 2025 . . . . . . . . . . 7,554,580.27June 2025 . . . . . . . . . . 7,401,068.89July 2025 . . . . . . . . . . . 7,250,441.41August 2025 . . . . . . . . 7,102,646.00September 2025 . . . . . 6,957,631.73October 2025 . . . . . . . . 6,815,348.58November 2025 . . . . . 6,675,747.39December 2025 . . . . . . 6,538,779.85January 2026 . . . . . . . 6,404,398.53February 2026 . . . . . . 6,272,556.80March 2026 . . . . . . . . . 6,143,208.85April 2026 . . . . . . . . . . 6,016,309.69May 2026 . . . . . . . . . . 5,891,815.10June 2026 . . . . . . . . . . 5,769,681.65July 2026 . . . . . . . . . . . 5,649,866.66August 2026 . . . . . . . . 5,532,328.20September 2026 . . . . . 5,417,025.09October 2026 . . . . . . . . 5,303,916.86November 2026 . . . . . 5,192,963.74December 2026 . . . . . . 5,084,126.69January 2027 . . . . . . . 4,977,367.33February 2027 . . . . . . 4,872,647.96March 2027 . . . . . . . . . 4,769,931.56April 2027 . . . . . . . . . . 4,669,181.73May 2027 . . . . . . . . . . 4,570,362.74June 2027 . . . . . . . . . . 4,473,439.48July 2027 . . . . . . . . . . . 4,378,377.45August 2027 . . . . . . . . 4,285,142.76September 2027 . . . . . 4,193,702.13October 2027 . . . . . . . . 4,104,022.86November 2027 . . . . . 4,016,072.82December 2027 . . . . . . 3,929,820.44January 2028 . . . . . . . 3,845,234.75February 2028 . . . . . . 3,762,285.27March 2028 . . . . . . . . . 3,680,942.09April 2028 . . . . . . . . . . 3,601,175.83May 2028 . . . . . . . . . . 3,522,957.62June 2028 . . . . . . . . . . 3,446,259.11July 2028 . . . . . . . . . . . 3,371,052.43August 2028 . . . . . . . . 3,297,310.24

B-1

Aggregate Group I (Continued)

DistributionDate

PlannedBalance

September 2028 . . . . . $ 3,225,005.64October 2028 . . . . . . . . 3,154,112.25November 2028 . . . . . 3,084,604.13December 2028 . . . . . . 3,016,455.80January 2029 . . . . . . . 2,949,642.25February 2029 . . . . . . 2,884,138.89March 2029 . . . . . . . . . 2,819,921.59April 2029 . . . . . . . . . . 2,756,966.63May 2029 . . . . . . . . . . 2,695,250.73June 2029 . . . . . . . . . . 2,634,751.01July 2029 . . . . . . . . . . . 2,575,444.99August 2029 . . . . . . . . 2,517,310.61September 2029 . . . . . 2,460,326.20October 2029 . . . . . . . . 2,404,470.45November 2029 . . . . . 2,349,722.45December 2029 . . . . . . 2,296,061.67January 2030 . . . . . . . 2,243,467.94February 2030 . . . . . . 2,191,921.44March 2030 . . . . . . . . . 2,141,402.71April 2030 . . . . . . . . . . 2,091,892.64May 2030 . . . . . . . . . . 2,043,372.45June 2030 . . . . . . . . . . 1,995,823.72July 2030 . . . . . . . . . . . 1,949,228.33August 2030 . . . . . . . . 1,903,568.50September 2030 . . . . . 1,858,826.78October 2030 . . . . . . . . 1,814,986.00November 2030 . . . . . 1,772,029.33December 2030 . . . . . . 1,729,940.22January 2031 . . . . . . . 1,688,702.42February 2031 . . . . . . 1,648,299.99March 2031 . . . . . . . . . 1,608,717.25April 2031 . . . . . . . . . . 1,569,938.82May 2031 . . . . . . . . . . 1,531,949.59June 2031 . . . . . . . . . . 1,494,734.71July 2031 . . . . . . . . . . . 1,458,279.62August 2031 . . . . . . . . 1,422,570.01September 2031 . . . . . 1,387,591.82October 2031 . . . . . . . . 1,353,331.26November 2031 . . . . . 1,319,774.77December 2031 . . . . . . 1,286,909.05January 2032 . . . . . . . 1,254,721.03February 2032 . . . . . . 1,223,197.89March 2032 . . . . . . . . . 1,192,327.02April 2032 . . . . . . . . . . 1,162,096.04May 2032 . . . . . . . . . . 1,132,492.83

DistributionDate

PlannedBalance

June 2032 . . . . . . . . . . $ 1,103,505.43July 2032 . . . . . . . . . . . 1,075,122.16August 2032 . . . . . . . . 1,047,331.49September 2032 . . . . . 1,020,122.15October 2032 . . . . . . . . 993,483.05November 2032 . . . . . 967,403.29December 2032 . . . . . . 941,872.19January 2033 . . . . . . . 916,879.26February 2033 . . . . . . 892,414.19March 2033 . . . . . . . . . 868,466.87April 2033 . . . . . . . . . . 845,027.36May 2033 . . . . . . . . . . 822,085.91June 2033 . . . . . . . . . . 799,632.94July 2033 . . . . . . . . . . . 777,659.06August 2033 . . . . . . . . 756,155.04September 2033 . . . . . 735,111.82October 2033 . . . . . . . . 714,520.50November 2033 . . . . . 694,372.35December 2033 . . . . . . 674,658.80January 2034 . . . . . . . 655,371.43February 2034 . . . . . . 636,501.97March 2034 . . . . . . . . . 618,042.33April 2034 . . . . . . . . . . 599,984.53May 2034 . . . . . . . . . . 582,320.76June 2034 . . . . . . . . . . 565,043.34July 2034 . . . . . . . . . . . 548,144.75August 2034 . . . . . . . . 531,617.59September 2034 . . . . . 515,454.60October 2034 . . . . . . . . 499,648.65November 2034 . . . . . 484,192.76December 2034 . . . . . . 469,080.06January 2035 . . . . . . . 454,303.81February 2035 . . . . . . 439,857.39March 2035 . . . . . . . . . 425,734.32April 2035 . . . . . . . . . . 411,928.22May 2035 . . . . . . . . . . 398,432.84June 2035 . . . . . . . . . . 385,242.04July 2035 . . . . . . . . . . . 372,349.79August 2035 . . . . . . . . 359,750.18September 2035 . . . . . 347,437.41October 2035 . . . . . . . . 335,405.78November 2035 . . . . . 323,649.70December 2035 . . . . . . 312,163.68January 2036 . . . . . . . 300,942.34February 2036 . . . . . . 289,980.39

DistributionDate

PlannedBalance

March 2036 . . . . . . . . . $ 279,272.65April 2036 . . . . . . . . . . 268,814.03May 2036 . . . . . . . . . . 258,599.52June 2036 . . . . . . . . . . 248,624.24July 2036 . . . . . . . . . . . 238,883.36August 2036 . . . . . . . . 229,372.18September 2036 . . . . . 220,086.05October 2036 . . . . . . . . 211,020.43November 2036 . . . . . 202,170.86December 2036 . . . . . . 193,532.97January 2037 . . . . . . . 185,102.45February 2037 . . . . . . 176,875.10March 2037 . . . . . . . . . 168,846.78April 2037 . . . . . . . . . . 161,013.44May 2037 . . . . . . . . . . 153,371.08June 2037 . . . . . . . . . . 145,915.82July 2037 . . . . . . . . . . . 138,643.80August 2037 . . . . . . . . 131,551.29September 2037 . . . . . 124,634.57October 2037 . . . . . . . . 117,890.05November 2037 . . . . . 111,314.15December 2037 . . . . . . 104,903.42January 2038 . . . . . . . 98,654.41February 2038 . . . . . . 92,563.79March 2038 . . . . . . . . . 86,628.26April 2038 . . . . . . . . . . 80,844.59May 2038 . . . . . . . . . . 75,209.63June 2038 . . . . . . . . . . 69,720.26July 2038 . . . . . . . . . . . 64,373.45August 2038 . . . . . . . . 59,166.19September 2038 . . . . . 54,095.57October 2038 . . . . . . . . 49,158.71November 2038 . . . . . 44,352.78December 2038 . . . . . . 39,675.03January 2039 . . . . . . . 35,122.74February 2039 . . . . . . 30,693.24March 2039 . . . . . . . . . 26,383.93April 2039 . . . . . . . . . . 22,192.26May 2039 . . . . . . . . . . 18,115.70June 2039 . . . . . . . . . . 14,151.81July 2039 . . . . . . . . . . . 10,298.15August 2039 . . . . . . . . 6,552.38September 2039 . . . . . 2,912.16October 2039 and

thereafter . . . . . . . . 0.00

Aggregate Group II Planned Balances

DistributionDate

PlannedBalance

Initial Balance . . . . . $189,579,000.00October 2014 . . . . . . 188,604,277.86November 2014 . . . . 187,575,153.51December 2014 . . . . . 186,492,138.59January 2015 . . . . . . 185,355,779.52February 2015 . . . . . 184,166,657.14March 2015 . . . . . . . . 182,925,386.21April 2015 . . . . . . . . . 181,632,614.89

DistributionDate

PlannedBalance

May 2015 . . . . . . . . . $180,289,024.23June 2015 . . . . . . . . . 178,895,327.58July 2015 . . . . . . . . . 177,452,269.99August 2015 . . . . . . . 175,960,627.52September 2015 . . . . 174,421,206.63October 2015 . . . . . . 172,834,843.38November 2015 . . . . 171,202,402.74December 2015 . . . . . 169,524,777.81

DistributionDate

PlannedBalance

January 2016 . . . . . . $167,802,888.95February 2016 . . . . . 166,037,683.02March 2016 . . . . . . . . 164,230,132.46April 2016 . . . . . . . . . 162,404,085.08May 2016 . . . . . . . . . 160,560,059.50June 2016 . . . . . . . . . 158,698,588.31July 2016 . . . . . . . . . 156,844,794.45August 2016 . . . . . . . 154,998,696.09

B-2

Aggregate Group II (Continued)

DistributionDate

PlannedBalance

September 2016 . . . . $153,160,314.20October 2016 . . . . . . 151,334,781.42November 2016 . . . . 149,522,012.01December 2016 . . . . . 147,721,920.82January 2017 . . . . . . 145,934,423.23February 2017 . . . . . 144,159,435.19March 2017 . . . . . . . . 142,396,873.21April 2017 . . . . . . . . . 140,646,654.31May 2017 . . . . . . . . . 138,908,696.11June 2017 . . . . . . . . . 137,182,916.71July 2017 . . . . . . . . . 135,469,234.80August 2017 . . . . . . . 133,767,569.57September 2017 . . . . 132,077,840.74October 2017 . . . . . . 130,399,968.58November 2017 . . . . 128,733,873.87December 2017 . . . . . 127,079,477.89January 2018 . . . . . . 125,436,702.47February 2018 . . . . . 123,805,469.94March 2018 . . . . . . . . 122,185,703.12April 2018 . . . . . . . . . 120,577,325.37May 2018 . . . . . . . . . 118,980,260.53June 2018 . . . . . . . . . 117,394,432.93July 2018 . . . . . . . . . 115,819,767.44August 2018 . . . . . . . 114,256,189.37September 2018 . . . . 112,703,624.55October 2018 . . . . . . 111,161,999.30November 2018 . . . . 109,631,240.41December 2018 . . . . . 108,111,275.16January 2019 . . . . . . 106,602,031.29February 2019 . . . . . 105,103,437.03March 2019 . . . . . . . . 103,615,421.08April 2019 . . . . . . . . . 102,137,912.61May 2019 . . . . . . . . . 100,670,841.25June 2019 . . . . . . . . . 99,214,137.08July 2019 . . . . . . . . . 97,767,730.66August 2019 . . . . . . . 96,331,553.00September 2019 . . . . 94,905,535.55October 2019 . . . . . . 93,489,610.23November 2019 . . . . 92,083,709.39December 2019 . . . . . 90,687,765.84January 2020 . . . . . . 89,301,712.81February 2020 . . . . . 87,925,483.99March 2020 . . . . . . . . 86,559,013.50April 2020 . . . . . . . . . 85,202,235.87May 2020 . . . . . . . . . 83,855,086.10June 2020 . . . . . . . . . 82,517,499.59July 2020 . . . . . . . . . 81,189,412.16August 2020 . . . . . . . 79,870,760.07September 2020 . . . . 78,561,480.00October 2020 . . . . . . 77,261,509.01November 2020 . . . . 75,970,784.63December 2020 . . . . . 74,689,244.75January 2021 . . . . . . 73,416,827.70February 2021 . . . . . 72,153,472.20March 2021 . . . . . . . . 70,899,117.37April 2021 . . . . . . . . . 69,653,702.75May 2021 . . . . . . . . . 68,417,168.25June 2021 . . . . . . . . . 67,189,454.20July 2021 . . . . . . . . . 65,970,501.31

DistributionDate

PlannedBalance

August 2021 . . . . . . . $ 64,760,250.68September 2021 . . . . 63,559,110.53October 2021 . . . . . . 62,379,426.44November 2021 . . . . 61,220,824.32December 2021 . . . . . 60,082,936.49January 2022 . . . . . . 58,965,401.60February 2022 . . . . . 57,867,864.46March 2022 . . . . . . . . 56,789,976.01April 2022 . . . . . . . . . 55,731,393.17May 2022 . . . . . . . . . 54,691,778.74June 2022 . . . . . . . . . 53,670,801.34July 2022 . . . . . . . . . 52,668,135.24August 2022 . . . . . . . 51,683,460.34September 2022 . . . . 50,716,462.02October 2022 . . . . . . 49,766,831.08November 2022 . . . . 48,834,263.62December 2022 . . . . . 47,918,460.98January 2023 . . . . . . 47,019,129.63February 2023 . . . . . 46,135,981.08March 2023 . . . . . . . . 45,268,731.82April 2023 . . . . . . . . . 44,417,103.22May 2023 . . . . . . . . . 43,580,821.41June 2023 . . . . . . . . . 42,759,617.28July 2023 . . . . . . . . . 41,953,226.34August 2023 . . . . . . . 41,161,388.63September 2023 . . . . 40,383,848.70October 2023 . . . . . . 39,620,355.48November 2023 . . . . 38,870,662.26December 2023 . . . . . 38,134,526.53January 2024 . . . . . . 37,411,710.01February 2024 . . . . . 36,701,978.51March 2024 . . . . . . . . 36,005,101.88April 2024 . . . . . . . . . 35,320,853.93May 2024 . . . . . . . . . 34,649,012.39June 2024 . . . . . . . . . 33,989,358.84July 2024 . . . . . . . . . 33,341,678.59August 2024 . . . . . . . 32,705,760.69September 2024 . . . . 32,081,397.82October 2024 . . . . . . 31,468,386.26November 2024 . . . . 30,866,525.79December 2024 . . . . . 30,275,619.66January 2025 . . . . . . 29,695,474.52February 2025 . . . . . 29,125,900.38March 2025 . . . . . . . . 28,566,710.50April 2025 . . . . . . . . . 28,017,721.40May 2025 . . . . . . . . . 27,478,752.78June 2025 . . . . . . . . . 26,949,627.45July 2025 . . . . . . . . . 26,430,171.27August 2025 . . . . . . . 25,920,213.16September 2025 . . . . 25,419,584.97October 2025 . . . . . . 24,928,121.46November 2025 . . . . 24,445,660.29December 2025 . . . . . 23,972,041.91January 2026 . . . . . . 23,507,109.52February 2026 . . . . . 23,050,709.08March 2026 . . . . . . . . 22,602,689.20April 2026 . . . . . . . . . 22,162,901.11May 2026 . . . . . . . . . 21,731,198.65June 2026 . . . . . . . . . 21,307,438.16

DistributionDate

PlannedBalance

July 2026 . . . . . . . . . $ 20,891,478.52August 2026 . . . . . . . 20,483,181.03September 2026 . . . . 20,082,409.41October 2026 . . . . . . 19,689,029.74November 2026 . . . . 19,302,910.46December 2026 . . . . . 18,923,922.26January 2027 . . . . . . 18,551,938.09February 2027 . . . . . 18,186,833.14March 2027 . . . . . . . . 17,828,484.74April 2027 . . . . . . . . . 17,476,772.35May 2027 . . . . . . . . . 17,131,577.58June 2027 . . . . . . . . . 16,792,784.04July 2027 . . . . . . . . . 16,460,277.41August 2027 . . . . . . . 16,133,945.35September 2027 . . . . 15,813,677.47October 2027 . . . . . . 15,499,365.34November 2027 . . . . 15,190,902.37December 2027 . . . . . 14,888,183.87January 2028 . . . . . . 14,591,106.97February 2028 . . . . . 14,299,570.58March 2028 . . . . . . . . 14,013,475.40April 2028 . . . . . . . . . 13,732,723.85May 2028 . . . . . . . . . 13,457,220.06June 2028 . . . . . . . . . 13,186,869.83July 2028 . . . . . . . . . 12,921,580.62August 2028 . . . . . . . 12,661,261.50September 2028 . . . . 12,405,823.13October 2028 . . . . . . 12,155,177.74November 2028 . . . . 11,909,239.10December 2028 . . . . . 11,667,922.48January 2029 . . . . . . 11,431,144.64February 2029 . . . . . 11,198,823.81March 2029 . . . . . . . . 10,970,879.63April 2029 . . . . . . . . . 10,747,233.17May 2029 . . . . . . . . . 10,527,806.87June 2029 . . . . . . . . . 10,312,524.55July 2029 . . . . . . . . . 10,101,311.35August 2029 . . . . . . . 9,894,093.73September 2029 . . . . 9,690,799.46October 2029 . . . . . . 9,491,357.54November 2029 . . . . 9,295,698.25December 2029 . . . . . 9,103,753.09January 2030 . . . . . . 8,915,454.77February 2030 . . . . . 8,730,737.16March 2030 . . . . . . . . 8,549,535.32April 2030 . . . . . . . . . 8,371,785.45May 2030 . . . . . . . . . 8,197,424.86June 2030 . . . . . . . . . 8,026,391.98July 2030 . . . . . . . . . 7,858,626.31August 2030 . . . . . . . 7,694,068.44September 2030 . . . . 7,532,659.98October 2030 . . . . . . 7,374,343.60November 2030 . . . . 7,219,062.95December 2030 . . . . . 7,066,762.71January 2031 . . . . . . 6,917,388.50February 2031 . . . . . 6,770,886.94March 2031 . . . . . . . . 6,627,205.56April 2031 . . . . . . . . . 6,486,292.83May 2031 . . . . . . . . . 6,348,098.15

B-3

Aggregate Group II (Continued)

DistributionDate

PlannedBalance

June 2031 . . . . . . . . . $ 6,212,571.79July 2031 . . . . . . . . . 6,079,664.92August 2031 . . . . . . . 5,949,329.55September 2031 . . . . 5,821,518.56October 2031 . . . . . . 5,696,185.67November 2031 . . . . 5,573,285.41December 2031 . . . . . 5,452,773.12January 2032 . . . . . . 5,334,604.92February 2032 . . . . . 5,218,737.73March 2032 . . . . . . . . 5,105,129.22April 2032 . . . . . . . . . 4,993,737.83May 2032 . . . . . . . . . 4,884,522.71June 2032 . . . . . . . . . 4,777,443.77July 2032 . . . . . . . . . 4,672,461.61August 2032 . . . . . . . 4,569,537.53September 2032 . . . . 4,468,633.53October 2032 . . . . . . 4,369,712.30November 2032 . . . . 4,272,737.15December 2032 . . . . . 4,177,672.10January 2033 . . . . . . 4,084,481.77February 2033 . . . . . 3,993,131.43March 2033 . . . . . . . . 3,903,586.96April 2033 . . . . . . . . . 3,815,814.86May 2033 . . . . . . . . . 3,729,782.23June 2033 . . . . . . . . . 3,645,456.74July 2033 . . . . . . . . . 3,562,806.66August 2033 . . . . . . . 3,481,800.81September 2033 . . . . 3,402,408.58October 2033 . . . . . . 3,324,599.91November 2033 . . . . 3,248,345.25December 2033 . . . . . 3,173,615.63January 2034 . . . . . . 3,100,382.55February 2034 . . . . . 3,028,618.05March 2034 . . . . . . . . 2,958,294.67April 2034 . . . . . . . . . 2,889,385.43May 2034 . . . . . . . . . 2,821,863.84June 2034 . . . . . . . . . 2,755,703.90July 2034 . . . . . . . . . 2,690,880.06August 2034 . . . . . . . 2,627,367.23September 2034 . . . . 2,565,140.78October 2034 . . . . . . 2,504,176.52November 2034 . . . . 2,444,450.70December 2034 . . . . . 2,385,939.99January 2035 . . . . . . 2,328,621.48February 2035 . . . . . 2,272,472.70March 2035 . . . . . . . . 2,217,471.54April 2035 . . . . . . . . . 2,163,596.32May 2035 . . . . . . . . . 2,110,825.76June 2035 . . . . . . . . . 2,059,138.93July 2035 . . . . . . . . . 2,008,515.30August 2035 . . . . . . . 1,958,934.72

DistributionDate

PlannedBalance

September 2035 . . . . $ 1,910,377.40October 2035 . . . . . . 1,862,823.88November 2035 . . . . 1,816,255.10December 2035 . . . . . 1,770,652.31January 2036 . . . . . . 1,725,997.11February 2036 . . . . . 1,682,271.44March 2036 . . . . . . . . 1,639,457.57April 2036 . . . . . . . . . 1,597,538.08May 2036 . . . . . . . . . 1,556,495.87June 2036 . . . . . . . . . 1,516,314.16July 2036 . . . . . . . . . 1,476,976.46August 2036 . . . . . . . 1,438,466.61September 2036 . . . . 1,400,768.71October 2036 . . . . . . 1,363,867.16November 2036 . . . . 1,327,746.66December 2036 . . . . . 1,292,392.18January 2037 . . . . . . 1,257,788.95February 2037 . . . . . 1,223,922.49March 2037 . . . . . . . . 1,190,778.59April 2037 . . . . . . . . . 1,158,343.27May 2037 . . . . . . . . . 1,126,602.84June 2037 . . . . . . . . . 1,095,543.83July 2037 . . . . . . . . . 1,065,153.04August 2037 . . . . . . . 1,035,417.50September 2037 . . . . 1,006,324.48October 2037 . . . . . . 977,861.50November 2037 . . . . 950,016.28December 2037 . . . . . 922,776.79January 2038 . . . . . . 896,131.21February 2038 . . . . . 870,067.94March 2038 . . . . . . . . 844,575.59April 2038 . . . . . . . . . 819,642.99May 2038 . . . . . . . . . 795,259.16June 2038 . . . . . . . . . 771,413.35July 2038 . . . . . . . . . 748,094.98August 2038 . . . . . . . 725,293.67September 2038 . . . . 702,999.25October 2038 . . . . . . 681,201.73November 2038 . . . . 659,891.29December 2038 . . . . . 639,058.31January 2039 . . . . . . 618,693.35February 2039 . . . . . 598,787.13March 2039 . . . . . . . . 579,330.55April 2039 . . . . . . . . . 560,314.68May 2039 . . . . . . . . . 541,730.76June 2039 . . . . . . . . . 523,570.18July 2039 . . . . . . . . . 505,824.51August 2039 . . . . . . . 488,485.45September 2039 . . . . 471,544.89October 2039 . . . . . . 454,994.85November 2039 . . . . 438,827.49

DistributionDate

PlannedBalance

December 2039 . . . . . $ 423,035.13January 2040 . . . . . . 407,610.24February 2040 . . . . . 392,545.42March 2040 . . . . . . . . 377,833.41April 2040 . . . . . . . . . 363,467.08May 2040 . . . . . . . . . 349,439.46June 2040 . . . . . . . . . 335,743.68July 2040 . . . . . . . . . 322,373.01August 2040 . . . . . . . 309,320.85September 2040 . . . . 296,580.73October 2040 . . . . . . 284,146.29November 2040 . . . . 272,011.30December 2040 . . . . . 260,169.63January 2041 . . . . . . 248,615.28February 2041 . . . . . 237,342.37March 2041 . . . . . . . . 226,345.12April 2041 . . . . . . . . . 215,617.85May 2041 . . . . . . . . . 205,155.02June 2041 . . . . . . . . . 194,951.16July 2041 . . . . . . . . . 185,000.92August 2041 . . . . . . . 175,299.06September 2041 . . . . 165,840.43October 2041 . . . . . . 156,619.96November 2041 . . . . 147,632.71December 2041 . . . . . 138,873.82January 2042 . . . . . . 130,338.52February 2042 . . . . . 122,022.13March 2042 . . . . . . . . 113,920.06April 2042 . . . . . . . . . 106,027.82May 2042 . . . . . . . . . 98,340.99June 2042 . . . . . . . . . 90,855.24July 2042 . . . . . . . . . 83,566.32August 2042 . . . . . . . 76,470.08September 2042 . . . . 69,562.43October 2042 . . . . . . 62,839.36November 2042 . . . . 56,296.95December 2042 . . . . . 49,931.33January 2043 . . . . . . 43,738.75February 2043 . . . . . 37,715.48March 2043 . . . . . . . . 31,857.91April 2043 . . . . . . . . . 26,162.45May 2043 . . . . . . . . . 20,625.63June 2043 . . . . . . . . . 15,244.02July 2043 . . . . . . . . . 10,014.25August 2043 . . . . . . . 7,030.79September 2043 . . . . 4,131.78October 2043 . . . . . . 1,315.36November 2043 . . . . 806.05December 2043 . . . . . 311.10January 2044 and

thereafter . . . . . . . 0.00

B-4

No one is authorized to give information or tomake representations in connection with the Certifi-cates other than the information and representationscontained in or incorporated into this Prospectus Sup-plement and the additional Disclosure Documents. Wetake no responsibility for any unauthorized informationor representation. This Prospectus Supplement and theadditional Disclosure Documents do not constitute anoffer or solicitation with regard to the Certificates if it isillegal to make such an offer or solicitation to you understate law. By delivering this Prospectus Supplement andthe additional Disclosure Documents at any time, no oneimplies that the information contained herein or thereinis correct after the date hereof or thereof.

Neither the Securities and Exchange Commissionnor any state securities commission has approved ordisapproved the Certificates or determined if this Pro-spectus Supplement is truthful and complete. Anyrepresentation to the contrary is a criminal offense.

TABLE OF CONTENTS

Page

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

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

Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S- 4

Additional Risk Factor . . . . . . . . . . . . . . . . . . . . . . . S- 9

Description of the Certificates . . . . . . . . . . . . . . . . . S- 9

Certain Additional Federal Income TaxConsequences . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-32

Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . S-34

Legal Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . S-34

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

Exhibit A-2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A- 3

Schedule 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A- 4

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

$1,047,653,887

Guaranteed REMIC

Pass-Through Certificates

Fannie Mae REMIC Trust 2014-61

PROSPECTUS SUPPLEMENT

September 24, 2014