Fannie Prices $1.4B CAS Deal. In the GSE’s fifth credit risk-sharing transaction of the year under its popular Connecticut Avenue Securities program, Fannie Mae announced a $1.351 billion offering last week. The CAS program, launched in 2013, has been steadily growing, according to Laurel Davis, Fannie’s vice president of credit risk transfers. She noted that buyers are attracted to the program’s liquidity and transparency. This latest reference pool includes more than 174,000 single-family mortgage loans with an outstanding principal balance of about $43.8 billion.Original loan-to-value ratios are between 60 and 80 percent with the loans having been acquired between...