SOURCE: Mortgage News Feed
Fannie Mae announced Thursday that it completed its latest effort to shift some of its credit risk away from the taxpayers and onto private insurers. This latest deal was conducted through Fannie Mae’s Credit Insurance Risk Transfer program, which shifts credit risk on a pool of loans to a panel of reinsurers. The deal helps to further diversify its counterparty exposure and reduce taxpayer risk by increasing the role of private capital in the mortgage market, Fannie Mae said. The deal, CIRT 2016-3, is Fannie Mae’s 10th Credit Insurance Risk Transfer deal since the program began in 2013. Read Full Article Here >>
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