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 $69 billion in credit risk to private investors, amounting to about 3.2 percent of $2.1 trillion in unpaid principal balance, the FHFA said today. For 2017, the GSEs transferred about $20.6 billion worth of credit risk. Transfers included debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.
ABA, associations urge CFPB to rescind changes to adjudication process
ABA joined three associations in voicing support for a CFPB proposal to rescind a set of changes to the bureau’s rules that, among other things, gave its director authority to resolve adjudication hearings overseen by the agency.