There’s an MI-linked CRT from Essent, a seasoned CRT from Freddie Mac and a non-agency deal from Jefferies; Goldman to issue commercial MBS with Amazon shipping facilities.
Between 2015 and 2022, the private mortgage industry transferred more than $20.8 billion of risk exposure via the issuance of 51 insurance-linked notes through the capital markets.
After a three-month hiatus, Fannie rebounded with $1.44 billion in CAS deals, while Freddie’s STACR issuance totaled $611.0 million. (Includes data chart.)
Fannie has issued a cash tender offer on CAS notes totaling $4.24 billion. Details from that offer, plus pricing on its upcoming CAS REMIC, give some insight into the state of the CRT market.
Rising spreads brought credit-risk transfer issuance to a halt in the fourth quarter and more than halved reinsurance transactions. Still, combined Fannie and Freddie CRT deals hit a record $21.64 billion in 2022. (Includes data chart.)
RSS