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GSEs transfer $5.5B of credit risk in 1Q: FHFA

The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter, according to a Federal Housing Finance Agency Report. Debt issuances from the agencies were the primary risk transfer method.

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Overview of Fannie Mae and freddie mac credit risk transfer Transactions . Any mortgage encompasses both credit risk and interest rate risk. Interest rate risk is transferred to investors through the sale of the MBS. The Enterprises manage the credit risk through a number of mechanisms.

Housing market remains sluggish in Canada despite March rebound  · Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes. Canadian home sales and prices rebounded in March from a dismal showing.

The objective of the transaction is to transfer credit risk from Freddie Mac to private investors with respect to a $15.7 billion pool of mortgage loans currently held in previously issued MBS.

GSEs transfer $5.5B of credit risk in 1Q: FHFA gses bonnie sinnock september 19, 2017.. gses transfer $5.5B of credit risk in 1Q: FHFA The government-sponsored enterprises transferred $5.5 billion of credit risk on $174 billion of mortgages in their portfolios during the first quarter.

One Nomura trader convicted, one cleared at bond fraud trial  · A federal judge in Connecticut on Wednesday sentenced a former Jefferies Group bond trader to serve two years in prison and pay a $2 million fine after he was found guilty earlier this year of defrauding customers on bond prices. A jury in January found Jesse Litvak guilty of one.

The decline in capital is primarily attributable to an increase in home prices and additional capital relief from credit risk transfers, partially offset by growth of our book of business. We use credit risk transfers to reduce the amount of capital we would be required to hold under FHFA’s proposed rule.

Housing starts cooled in February after robust January

Certainly, their role is changing gradually. For example, looking at earlier this year, the GSEs transferred $5.5 billion of credit risk in the first quarter. F&F transferred $5.5B of credit risk on $174B of mortgages in their portfolios to buyers with an appetite for that.

The GSEs have come a long way since they first began embracing credit sharing deals. In 2014, the FHFA pushed the GSEs to issue at least $90 billion in securities with credit risk attributes. Overall, Fannie has issued $622 billion in credit risk transfer deals while Freddie has issued $589 billion in such deals since mid-2013.

Former FHFA Chief DeMarco Criticizes Obama's Housing Moves. – Both GSEs ramped up their credit risk transfer programs last year, and more innovation to those transactions is expected this year. The goal is to test out both pricing and investor appetite. executives want to broaden and deepen the investor base and create additional liquidity for such deals.

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