Since the Federal Housing Finance Agency launched a credit risk transfer program for GSEs Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $60.6 billion in credit risk to private investors, amounting to about 3.3 percent of $1.8 trillion in unpaid principal balance, the FHFA said today. In the second quarter of 2017, the GSEs transferred about $6.4 billion worth of credit risk. Transfers include debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.
ABA asks IRS to delay new reporting requirement
ABA submitted a comment letter to the IRS requesting that the agency delay by 12 months the effective date of its new "code Y" reporting requirement on Forms 1099-R and 5498 for qualified charitable distributions made by individual...