Fannie Mae last week announced it completed a multi-tranche credit-insurance-risk transfer transaction covering an astonishing $11.7 billion worth of multifamily loans held in portfolio.
To paraphrase Mark Twain: Rumors of HARP’s death have been greatly exaggerated. At least that’s the finding of a recent report by structured finance analysts at Bank of America Merrill Lynch who looked the impact similar programs will have on the GSEs’ credit-risk transfer programs.