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.
FinCEN to exempt U.S. companies from beneficial ownership reporting
FinCEN posted an interim final rule removing the requirement for U.S. companies and persons to report beneficial ownership information to the agency under the Corporate Transparency Act.