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Fannie Mae transfers more risk to insurers with sixth CIRT deal 

Housing Wire

Fannie Mae has executed its sixth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $725 million in mortgage-risk coverage as part of the agency’s ongoing effort to share risk with private-sector insurers. billion of insurance coverage on $675.9 If that $106.3

Insurance 353
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Fannie Mae launches eighth CAS note offering this year

Housing Wire

million note offering backed by a reference pool of single-family mortgages valued at $20.4 This latest CAS transaction, CAS 2022-R08, involves a reference pool of 67,644 single-family mortgage loans. million note offering backed by a reference loan pool of 83,420 single-family mortgages valued at $25 billion.

Insurance 299
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Fannie Mae unveils $700M CIRT deal

Housing Wire

Fannie Mae has finalized its ninth Credit Insurance Risk Transfer (CIRT) transaction of the year, transferring some $700 million of mortgage credit risk to private insurers and reinsurers, the agency announced. The insurance coverage is provided based on actual losses over a 12.5-year The coverage, which became effective Aug.

Insurance 284
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Freddie Mac’s CRT program posts record performance 

Housing Wire

The offering totals were across the agency’s flagship Structured Agency Credit Risk (STACR) and Agency Credit Insurance Structure (ACIS) programs, along with other risk-sharing transactions. Through the A CIS transactions, a portion of the credit risk on mortgages backed by Fannie and Freddie is shifted to insurers in the private sector.

Insurance 370
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CRT is ‘responsible’ hedge against taxpayer risk: FHFA’s Thompson

Housing Wire

million note offering backed by a reference pool of single-family mortgages valued at $25 billion. The latest transaction, CAS 2022-R06, involves a reference pool of 83,420 single-family mortgage loans. . The agencies pay monthly premiums in exchange for insurance coverage on a portion of the designated reference loan pools.

Insurance 352
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FHA drafts guidance to expand financing on homes with ADUs

Housing Wire

The Federal Housing Administration (FHA) published a new draft version of a Mortgagee Letter (ML) on Thursday that would update the mortgage insurance requirements on single-family homes with accessory dwelling units (ADU). In California, demand for ADUs is quickly outpacing supply, according to reports.

Finance 365
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Biden to call for first-time homebuyer tax credit, construction of 2 million homes

Housing Wire

The White House also pointed out last year’s reduction to the mortgage insurance premium (MIP) for Federal Housing Administration (FHA) mortgages, which save “an estimated 850,000 homebuyers and homeowners an estimated $800 per year.” The White House estimates that this “will raise an additional $3.79 It is also wary of some of the proposals.