Fannie Mae Executes its Fourth Credit Insurance Risk Transfer Transaction of 2024 on $12.1 Billion of Single-Family Loans [Yahoo! Finance]
Federal National Mortgage Association (FNMA)
NASDAQ:AMEX Investor Relations:
fanniemae.com/portal/about-fm/investor-relations/index.html
Company Research
Source: Yahoo! Finance
CIRT 2024-H2 transferred $284.8 million of mortgage credit risk to private insurers and reinsurers. "We appreciate the support of the 25 insurers and reinsurers that committed to write coverage on this deal," said Rob Schaefer , Fannie Mae Vice President, Capital Markets. The covered loan pool for CIRT 2024-H2 consists of approximately 34,000 single-family mortgage loans with an outstanding unpaid principal balance (UPB) of approximately $12.1 billion . Additionally, the covered pool collateral has loan-to-value (LTV) ratios of 80.01 percent to 97.00 percent and was acquired between May 2023 and September 2023 . The loans included in this transaction are fixed-rate, generally 30-year term, fully amortizing mortgages and were underwritten using rigorous credit standards and enhanced risk controls. With CIRT 2024-H2, which became effective April 1, 2024 , Fannie Mae will retain risk for the first 185 basis points of loss on the $12.1 billion covered loan pool. If the $224.2 millio
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FNMA
Sec Filings
- 8/13/24 - Form ABS-15G/A
- 8/13/24 - Form ABS-15G/A
- 8/13/24 - Form ABS-15G/A
- FNMA's page on the SEC website