The Federal Housing Finance Agency (FHFA) has completed the first phase of a process mandated in 2019 by publishing a report on the performance of Fannie Mae’s and Freddie Mac’s single-family credit risk transfers (CRT).
That year, the FHFA called for a comprehensive review of the GSEs’ CRT programs for the first time since their inception in 2013. As an initial step toward that objective, the report estimates the historic and projected net costs