The GSEs’ insurance and reinsurance programs grew in 2015 and are expected to grow faster than Fannie Mae’s Connecticut Avenue Securities and Freddie Mac’s Structured Agency Credit Risk, which combined accounted for 83 percent of the volume in credit-risk-sharing transactions to date since the program began in 2013. Scott Smith, the Federal Housing Finance Agency’s associate director of capital policy, said that number slipped some in 2015 and that CAS and STACR were 75 percent of the volume in 2015, due to the emergence of insurance and reinsurance programs. Fannie’s Credit Insurance Risk Transfer and Freddie’s Agency Credit Insurance Structure have been picking up steam throughout 2015, said Smith.