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Items Tagged with 'STACR'

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Freddie Mac to make loan-level loss data available to investors

Aims to increase transparency in credit risk-sharing offerings
Ben Lane
"It is important for investors to have this expanded view of credit risk, especially as we continue to grow and evolve our credit risk offerings,” said Kevin Palmer, vice president of single-family strategic credit costing and structuring for Freddie Mac.
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Freddie Mac’s second high-LTV risk-sharing bond prices tight

$33.43 billion deal carries average LTV of 91.6%
Ben Lane
STACR-HQ2 was even larger than Freddie Mac's first high LTV offering, with an unpaid principal balance of $33.43 billion and a weighted average LTV of 91.6%, spread across 147,771 loans. It priced tight compared to the first offering.
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Freddie Mac ups the risk-sharing ante again

New STACR deal is bigger and riskier
Ben Lane

Freddie Mac is preparing to break new ground in its credit risk-sharing offerings. STACR 2014-HQ2 carries loans with loan-to-value ratios as high as 95% and carries an unpaid principal balance of more than $33 billion.


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Freddie Mac breaks new ground with riskier STACR deal

Unloads $10 billion more in credit risk
Ben Lane

The new deal, STACR 2014-HQ1, carries an average LTV of 92% with a current pool balance of $9.975 billion spread across 45,112 loans. The loans have an average balance of $221,109 and were originated in the third and fourth quarters of 2013.


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Wells Fargo: Fannie, Freddie risk-sharing deals lose their edge

Tightening spreads mean investors can find greater yield elsewhere
Ben Lane
In Wells Fargo’s Mortgage Market Monitor, analysts Greg Reiter, Mark Fontanilla, Randy Ahlgren, and Maria Mascia write, “we think the upside potential particularly of the risk-sharing transactions has dissipated.” Will investors look to other subsectors for more risk?
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Fitch will rate second Freddie Mac risk-sharing deal

STACR (part two) will carry a triple-B rating
Jacob Gaffney
Freddie Mac will be responsible for making monthly payments of interest and principal to investors based on the payment priorities set forth in the transaction documents.
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From HW Magazine

Setting the stage

Freddie Mac sets benchmark for effective credit risk transfer
Christina Mlynski
Since the Federal Housing Finance Agency outlined its goals for 2013, which included the divestiture of higher risk assets, both Fannie Mae and Freddie Mac have put several bids wanted in competition lists into the market.
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