Reinsurance News
Freddie Mac
Freddie Mac’s Single-Family CRT Program completes its 100th transaction
20th August 2024
Freddie Mac’s Single-Family Credit Risk Transfer (CRT) Program has successfully closed its 100th Agency Credit Insurance Structure (ACIS) transaction. This ACIS 2024-SPH2 transaction executed in Q3 transfers risk on an initial reference pool of fully amortising, 20-30 year fixed-rate first lien mortgages with original LTVs greater than 80% and less than ... Read the full article
Core Specialty enters mortgage reinsurance market
29th August 2023
Core Specialty Insurance Holdings, Inc., and its subsidiaries have entered the mortgage reinsurance market in collaboration with Enact Holdings, Inc. According to the announcement, Core Specialty will provide excess of loss reinsurance on selected Freddie Mac and Fannie Mae mortgages. As part of this initiative, Core Specialty has also entered into an ... Read the full article
Freddie Mac’s CRT programs acquire credit protection of over $800m
27th January 2023
Freddie Mac has announced that its Single-Family and Multifamily Credit Risk Transfer (CRT) programs acquired credit protection of approximately $833m on more than $50 billion unpaid principal balance (UPB) of mortgage loans. The deal was brokered by Aon plc, a leading global professional services firm, and sub-brokered by certified minority-business enterprise ... Read the full article
Freddie Mac’s CRT program reaches 175 re/insurers and investors
18th November 2022
The addition of eleven new re/insurers and investors added in the third quarter have brought the number of unique participants in the Freddie Mac Single-Family Credit Risk Transfer (CRT) program this year to more than 175. Single-Family CRT programs transfer credit risk away from U.S. taxpayers to global private capital via ... Read the full article
Freddie Mac adds 17 new re/insurers and investors in record H1
31st August 2022
Freddie Mac’s single-family business has announced that its Credit Risk Transfer (CRT) program reported Q2 22 CRT issuance of approximately $6.5 billion, protecting approximately $151 billion in unpaid principal balance (UPB) of single-family mortgages. The total was a company record performance for a second quarter. At the same time, record first half ... Read the full article
Freddie Mac increases CRT bond issuance to $1.1bn
26th August 2020
The Federal Home Loan Mortgage Corporation (Freddie Mac) has decided to increases the planned size of its latest Structured Agency Credit Risk (STACR) offering due to investor demand. Freddie Mac has upsized the STACR 2020-DNA4 offering to nearly $1.1 billion, making it the third STACR offering to be increased since March. STACR, ... Read the full article
Freddie Mac announces closure of $2.6bn MCIP reinsurance transaction
24th August 2020
US loan mortgage corporation, Freddie Mac, has announced the closure of its third Multifamily Credit Insurance Pool offering. The transaction reinsures risk on a $2.6 billion reference pool made up of 136 multifamily loans. Partnering with insurance and reinsurance broker Aon, Freddie Mac retains the first 1% of losses, and has purchased ... Read the full article
Freddie Mac closes $1.8bn MCIP Reinsurance Transaction
22nd November 2019
The Federal Home Loan Mortgage Corporation (Freddie Mac) has closed its second Multifamily Credit Insurance Pool (MCIP) offering, MCIP 2019-R2. The transaction reinsurers risk on a $1.87 billion reference pool made up of 88 multifamily loans. Partnering with reinsurance broker Aon, The U.S government-sponsored mortgage giant retains the first .75% of losses, ... Read the full article
AM Best reviews GSE mortgage transfers, gauges capital impact on reinsurers
25th July 2019
Rating agency AM Best has reviewed the mortgage risk transfer programs employed by government-sponsored enterprises (GSE), and outlined new criteria to gauge how such transactions affect the net required capital of participating reinsurers. GSEs such as Freddie Mac, Fannie Mae, and the Federal Housing Finance Agency (FHFA) have been transferring mortgage ... Read the full article
Freddie Mac transfers further $618mn of risk to re/insurers
11th January 2019
The Federal Home Loan Mortgage Corporation (Freddie Mac) has obtained two new re/insurance policies under its Agency Credit Insurance Structure (ACIS) program, providing coverage for approximately $618 million of credit risk. The coverage underlies a $66 billion reference pool of mortgages, bringing ACIS credit risk transfer for 2018 to approximately $3 ... Read the full article
Freddie Mac closes first multifamily credit deal using new re/insurance pool
4th January 2019
The Federal Home Loan Mortgage Corporation (Freddie Mac) has closed the first deal under its newly-created Multifamily Credit Insurance Pool (MCIP), which provides reinsurance coverage for $915 million of multifamily mortgage loans. The U.S government-sponsored mortgage giant aims to use its new MCIP offering to transfer a percentage of the credit ... Read the full article
$1.2 billion of risk offloaded by Freddie Mac in 2018
29th June 2018
Reinsurers have helped Virginia-headquartered Federal Home Loan Mortgage Corporation (Freddie Mac) offload $1.2 billion of risk this year, via its Agency Credit Insurance Structure (ACIS) program. ACIS 2018-SAP1, the Company’s fourth stand-alone ACIS credit-risk transfer (CRT), provides a maximum limit of up to approximately $300 million of losses on single-family loans. Gina ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
