Fannie Mae closes 2015 risk-sharing program with latest deal with insurers

The 30-year fixed-rate average slid to 3.82 percent and the 15-year rate hit 3.28 percent this week, according to new data from Freddie Mac reported in the Washington Post. Rates have been on a. Even with the 30-year average mortgage rate below 4%, home sales slowed in the first five months of the year.

The two deals, Fannie stated, shift a portion of the credit risk on pools of single-family loans to a group of insurers. program,” said Rob Schaefer, vice president for credit enhancement strategy.

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Fannie Mae estimates by the end of 2015, it will have transferred a portion of the credit risk on approximately half a trillion dollars worth of single-family mortgages. “We recently brought our ninth.

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As of the end of 2015, the GSEs have transferred at least some of the risk on $693.2 billion of unpaid principal balance through Fannie Mae’s CAS (Connecticut Avenue Securities) and Freddie Mac’s STACR (Structured Agency Credit Risk) transactions (see Table).

Fannie Mae produced an automated underwriting system (AUS) tool called Desktop Underwriter (DU) which lenders can use to automatically determine if a loan is conforming; Fannie Mae followed this program up in 2004 with Custom DU, which allows lenders to set custom underwriting rules to handle nonconforming loans as well.

The latest CIRT deal is Fannie Mae’s fourth such deal since the program launched in Dec. 2014, and its third CIRT deal in 2015. Also, the latest deal, CIRT-2015-3, attracted an international.

Fannie Mae transfers further $9bn of loan risk to re/insurers. 4th October 2018 – Author: Charlie Wood The Federal National Mortgage Association (Fannie Mae) has completed its sixth and seventh Credit Insurance Risk Transfer (CIRT) transactions of 2018, which together provide re/insurance cover for $9 billion of loans.

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As the CIRT program continues to grow, Fannie Mae remains committed to increasing liquidity in the risk-sharing market through. A summary of key deal terms, including pricing, for these new and.

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In CIRT-2015-6 which became effective November 1, 2015, Fannie Mae retains risk for the first 50 basis points of loss on an $8.2 billion pool of loans. If this $41 million retention layer were exhausted, reinsurers would cover the next 250 basis points of loss on the pool, up to a maximum coverage of approximately $206 million.

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Fannie Mae announced earlier this week that it closed out its 2015 credit risk-sharing program with the seventh credit risk-sharing transactions as part of its Credit Insurance Risk Transfer program.