A Federal Housing Finance Agency (FHFA) report highlighted the perils of low-rates for Fannie Mae and Freddie Mac’s single-family Credit Risk Transfers.
Despite heightened investor uncertainty during the onset of the pandemic, GSE-backed mortgages have outperformed expectations, the report notes. Although markets experienced a significant liquidity disruption in March 2020, questions remain about the strength of CRTs under stress.
The FHFA report also raised concerns about how a period of fast prepayments details ⇒
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