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 $81 billion in credit risk to private investors, amounting to about 3.2 percent of $2.5 trillion in unpaid principal balance, the FHFA said today. For the first half of 2018, the GSEs transferred about $12 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, state bankers associations warn credit card rate cap would cause economic harm
A Senate bill to cap the annual percentage rate for credit cards at 10% would have a devastating effect on access to credit for individuals and small business owners who use their personal cards as a form of...