Freddie Mac offloads $336 million in credit risk to insurers

The two actions combined are expected to shift about $800 million in pension obligations off. Jason Richards, senior consultant in the retirement risk management group at Towers Watson, said.

– The Federal Housing Finance Agency (FHFA) today issued a Credit Risk Transfer Progress Report describing the status and volume of credit risk transfer transactions through the second quarter of 2017. The Report provides a comprehensive picture of how Fannie Mae and Freddie Mac (the Enterprises) transfer a substantial portion of credit risk.

Freddie Mac offloads more credit risk to insurers. These two policies cover up to a combined maximum limit of approximately $223 million of losses that Freddie Mac incurs when homeowners default, Freddie said in a release. These transactions take the total number of ACIS deals to nine. Coupled with the 14 stacr deals,

Through STACR, WLS and ACIS, Freddie Mac has transferred a substantial portion of credit risk on more than $440 billion of UPB on single-family mortgages.

Freddie Mac has. guaranty insurers and reinsurers. These three transactions transfer much of the remaining credit risk associated with three STACR deals executed in 2014, up to a combined maximum.

Freddie Mac has expanded its Agency Credit Insurance Structure (ACIS) program with ACIS Forward Risk Mitigation (AFRM), a front-end credit risk transfer (crt) offering that allows the GSE to transfer mortgage credit risk simultaneously with the acquisition of loans by securing committed private capital and providing stable pricing over a two-year horizon through the end [.]

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Freddie Mac announced today that it has obtained new insurance policies under its successful Agency Credit Insurance Structure (ACIS) program. Through ACIS, Freddie Mac obtains insurance policies that transfer a portion of the credit risk associated with its Structured Agency credit risk (stacr.

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Fannie Mae and Freddie Mac began their risk-sharing initiatives in 2013 as a way to transfer risk from taxpayers to private investors while the Enterprises remain in conservatorship of the FHFA.

Earlier this year, Freddie Mac obtained an insurance policy to cover much of the remaining credit risk associated with its first actual loss stacr offering, April’s STACR Series 2015-DNA1. STACR.