With better pricing incentives, investors sold Freddie Mac 87% of the STACRs in its latest cash tender offer. Freddie was able to repurchase less than 50% of the STACRs included in its previous tender offer.

Minority-owned Protecdiv will partner with insurance giant Aon in credit insurance risk-transfer transactions. The collaboration gives the small re-insurer the scale to work with large institutions.

Residential MBS investors say that, rather than publish a social index for their MBS, the GSEs should just disclose the data that goes into making that index.

Spreads on the latest Connecticut Avenue Securities tightened — a sign, perhaps, that Fannie won’t have to pay investors such a high premium to share credit risk.

Designating the appropriate SOFR-related benchmark rates for GSE products is one of the last major steps in the transition from LIBOR.

Subtle differences between 2022 and 2023 objectives speak to both new priorities and goals reached.

Nearly 80% of Freddie’s STACRs received an NAIC 1 designation, the highest rating.

Investors tendered only 73% of the CAS notes Fannie was willing to buy back.

Fannie’s last CIRT transaction of 2022 covers $343 million in credit risk on $10.1 billion in single-family loans.

The enterprise issued more credit-risk transfer deals this year than last. But increasing interest rates have made the deals less and less attractive for Freddie.