Fannie Mae has priced its fourth Connecticut Avenue Series (CAS) credit-risk transfer deal of 2022, a $1.14 billion note offering backed by a reference pool of some 118,000 single-family mortgages valued at $36 billion.
The offering is slated to close April 8, according to a presale review by the Kroll Bond Rating Agency (KBRA) and involves transferring a portion of the reference loan-pool risk to private investors through the CAS real estate mortgage investment conduit, or REMIC.
“With the completion of this transaction, Fannie Mae will have brought 48 CAS deals to market, issued over $55 billion in notes, and transferred a details ⇒
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