Fannie Mae this week completed its first credit insurance risk transfer (CIRT) deal of the year as part of the agency’s ongoing efforts to share mortgage risk with the private sector.
The deal transferred millions of dollars of credit risk to a group of 22 private insurers and reinsurers. That credit risk is tied to a $26.1 billion reference pool of single-family mortgages.
“This credit risk transfer … has increased the role of private capital by transferring $770.7 million of mortgage credit risk to private insurers and reinsurers,” the Structured Finance Association states in details ⇒
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