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Fannie Mae Taps Reinsurers in Mortgage Risk-Sharing Deal


businessweek.com | December 14, 2014 

By Matt Robinson

Fannie Mae bought insurance to cover a portion of losses on $6.4 billion of home loans in the mortgage giant’s latest effort to share risks with private investors.

The policy will cover as much as $193 million of losses on a pool of mortgages with a group of domestic reinsurers taking on that risk, according to a statement from the Washington-based company (FNMA:US) today. The loans backing the debt were acquired by Fannie Mae in the first quarter and have 30-year terms.

Fannie Mae expects the new structure will serve as a template for similar deals, according Andrew Bon Salle, an executive vice president at the lender. The opportunity to use reinsurers offers an attractive source of capital because the sector currently has little exposure to the U.S. residential mortgage market, Bon Salle said in the statement.
Video: Watt Says Principal Reductions Must Be `Responsible'

The Federal Housing Finance Agency ordered Freddie Mac and Fannie Mae to engage in risk-sharing transactions to gain insight into how the private sector takes potential losses into account when pricing transactions and to reduce taxpayer risk.


Back to December 2014 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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