Fannie Mae Executes Two CIRT Single Family Loan Transactions Totaling $19.8 Billion

HousingWire reports that Fannie Mae has executed two Credit Insurance Risk Transfer (CIRT) deals, CIRT 2017-3 and 2017-4, transferring $546 million to 17 reinsurers and insurers, effective May 1, 2017. Rob Schaefer, Fannie Mae vice president for credit enhancement strategy, stated that the transactions demonstrate "Fannie Mae's commitment to build liquidity in the risk-sharing market through the regularity and transparency of our credit risk transfer executions." In total, GSEs have acquired $4.3 billion in insurance coverage on about $170 billion in loans through its CIRT program.

SFIG's Residential Mortgage Finance Symposium will take place November 7th-8th at the Conrad Hotel in New York. Participants and panelists will probe the business models and operating strategies of these intersecting asset classes, including GSE CRT deals, and dive into their short and long term funding strategies, examine operational, legal and regulatory risks to their business models, and understand how technology is reshaping the business landscape.

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