NEW YORK (Standard&Poor's) April 28, 2005--Standard&Poor's Ratings Services today raised its ratings on two classes of Fannie Mae's REMIC pass-through certificates series 1998-M6. Concurrently, ratings on two other classes from the same transaction are affirmed (see list). The raised ratings reflect the stable financial performance of the multifamily properties underlying the trust collateral, along with low cooperative loan leverage ratios, seven years of seasoning, and the lack of delinquent or specially serviced loans. The affirmed ratings reflect credit enhancement levels that are appropriate for the given ratings. As of April 15, 2005, the trust collateral consisted of 128 loans with an aggregate principal balance of $224.6 million, down from 162 loans totaling $304.3 million at issuance.
