The transactions are sub-brokered by a new partner for the GSE, a minority-led reinsurer.

Spreads on the latest CRT from Fannie were wider than on the deal the GSE issued in April 2022.

Despite significant premiums offered by Fannie Mae, the GSE was only able to repurchase 62.7% of the notes in its latest CAS tender offer.

Fannie Mae and Freddie Mac released tables showing the replacement rates and tenor spreads for most legacy securities still indexed to LIBOR.

Fannie and Freddie in a joint comment letter expressed concerns that the SEC’s proposed rule on conflict of interest could prevent the GSEs from issuing credit-risk transfer notes in a post-conservatorship world.

Private insurers will assume the credit risk on up to $926 million in mortgage losses.

STACRs see the return of the B-1 class for the first time since June.

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.