Items Tagged with 'CIRT'

ARTICLES

  • Fannie Mae unveils new form of credit insurance risk transfer for multifamily loans

    Transfers risk on $10.9 billion in multifamily loans
    Fannie Mae announced it completed its first-ever multi-tranche Credit Insurance Risk Transfer transaction, transferring risk on $10.9 billion in multifamily loans. Fannie Mae Multifamily Vice President Jonathan Gross said this new transaction transferred $273 million of risk to nine reinsurers and insurers.
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  • Fannie Mae now offering new risk-sharing option for multifamily loans

    GSE now selling credit insurance risk transfers to offload risk and attract new capital sources
    Fannie Mae just rolled out its first credit insurance risk transfer program in the multifamily industry. The first transaction under the new program was announced last week, an $11.1 billion CIRT transaction covering multifamily loans originated between October 2017 and January 2018 and deferring that risk to seven undisclosed insurers and reinsurers.
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  • Fannie Mae transfers risk on $22B in single-family loans

    Both loans acquired from October 2017 through March 2018
    Fannie Mae recently announced it completed its fourth and fifth Credit Insurance Risk Transfer transactions, transferring risk on $22 billion in single-family loans. The two pools contain fixed-rate loans with ratios of at least 60% and up to 80% with original terms between 21 and 30 years.
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  • Fannie Mae completes first credit insurance risk transfer of 2018

    Transfers risk on $16.9 billion in single-family loans
    Fannie Mae announced it completed its first Credit Insurance Risk Transfer transaction of 2018, transferring risk on $16.9 billion in single-family loans. The deal, CIRT 2018-1, is part of the company’s ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market.
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  • Fannie Mae makes more information available for risk-sharing investors

    Will now make monthly loan-level disclosure data on for CIRT deals
    A recent report suggested that the government-sponsored enterprises’ risk-sharing deals will be a big target for investors in 2018. In order to provide investors with as much detail as possible, Fannie Mae announced this week that it is making additional disclosures about some of its risk-sharing deals.
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  • Fannie Mae announces new front-end credit risk-sharing deal

    Deal with insurers provides up to $375 million in coverage
    Fannie Mae announced Friday that it executed its second front-end credit risk-sharing deal through its Credit Insurance Risk Transfer program. The deal provides insurance coverage on a maximum coverage of approximately $375 million from pools of single-family mortgages that carry a combined unpaid principal balance of approximately $15 billion.
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