Since the Federal Housing Finance Agency launched a credit risk transfer program for Fannie Mae and Freddie Mac in 2013, the enterprises have transferred $115 billion in credit risk to private investors, amounting to about 3.3% of unpaid principal balance, the FHFA said today. In 2019, the GSEs transferred $24 billion worth of credit risk. Transfers included debt issuances, insurance and reinsurance transactions, senior-subordinate securitizations and several kinds of lender-collateralized recourse transactions.
Report: Republicans push back against proposed cuts to CDFI Fund
Several congressional Republicans say they do not support a proposal by President Trump to redirect funds away from the CDFI Fund.