Sources in the mortgage bond space report that Fannie Mae is currently pre-marketing its next risk-sharing transaction.

The vehicle for issuing these deals, referred to as Connecticut Avenue Securities, typically includes a mezzanine slice marketed to private credit risk investors.

The history of the program, as well as Freddie Mac's similar iniatives can be found here.

Fannie Mae said it is still too early to provide additional details.

"We look forward to reducing our risk and encouraging private capital to return to the market through additional transactions in 2014," said Fannie Mae spokeswoman Callie Dosberg.

The first Fannie Mae deal proved to be very successful.

"About 75 broadly-diversified investors participated in the offering, including asset managers, mutual funds, pension funds, hedge funds, insurance companies, banks, and REITs," Fannie Mae said about the first deal.