Volume of Fannie Mae risk-sharing deals hits $2.6B in 2018

WASHINGTON, Nov. 14, 2017 /PRNewswire/ — Fannie Mae (OTC Bulletin Board: FNMA) priced its seventh credit risk sharing transaction of 2017 under its Connecticut Avenue Securities (CAS) program. CAS Series 2017-C07, a $1.2 billion note offering, is scheduled to settle on November 21, 2017 .

On June 30, 2015, Fannie Mae and Freddie Mac further revised the PMIERS to include financial requirements for loans with lender-paid mortgage insurance. In the 2017 and 2018 Scorecards, FHFA directed the Enterprises to evaluate the existing PMIERS and whether changes or updates were appropriate.

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The HFA Preferred Risk Sharing and HFA Preferred loans were developed by the Federal National Mortgage Association (Fannie Mae) for the housing finance agencies (hence, "HFA"). The HFA loans are underwritten to conventional underwriting guidelines, specifically, the My Community Mortgage.

Investments Fannie Mae makes more information available for risk-sharing investors Will now make monthly loan-level disclosure data on for CIRT deals

“Risk-sharing volume. Bloomberg first reported last month, Freddie Mac will allow mortgage insurers to take some of the default risk on nearly $4 billion of loans. The program is smaller than some.

Fannie Mae Prices $1.007 Billion Connecticut Avenue Securities Risk Sharing Deal. Fannie Mae will retain a portion of the 2M-1, 2M-2, and 2B-1 tranches in order to align its interests with investors throughout the life of the deal. Fannie Mae will retain the full 2B-2 and 2A-H tranches.

U.S. multifamily transaction volume was nearly $100 billion in 2017. investors and lenders are sharing the additional risk present in commercial real estate deals as interest rates increase but.

On February 11, Fannie Mae priced its tenth Connecticut Avenue Securities (CAS) risk-sharing transaction. Since the program’s inception in 2013, Fannie has issued .4 billion in these notes, covering about $470 billion in newly originated single-family mortgages and obligating the company to pay about $7 billion over the next ten years in premiums and hedging.

HFA Preferred is Fannie Mae’s only product that allows up to a 97% LTV (for DU Underwritten mortgages) and 105% CLTV (with a Community Seconds); reduced MI coverage when compared to standard coverage (e.g., 18% on 97% LTV) and no Loan level price adjustments (LLPA’s).

MBS December 7, 2018 Volume of Fannie mae risk-sharing deals hits .6b in 2018 fannie mae completed 10 traditional and front-end credit risk insurance transactions during 2018, sharing $2.6 billion of risk, including $192 million in its final deal of the year.