Fannie Mae has transferred $733.3 million of mortgage credit risk to private insurers and reinsurers in its fifth Credit Insurance Risk Transfer™ (CIRT™) transaction of 2022, the GSE announced. 

The covered loan pool for CIRT 2022-5 consists of approximately 67,700 single-family mortgage loans with an outstanding unpaid principal balance of approximately $21 billion, according to Fannie Mae’s press release. The covered pool includes collateral with loan-to-value ratios of 80.01% to 97% acquired between October 2021 and December 2021. The loans included in this transaction are fixed-rate, generally 30-year term, fully amortizing mortgages and were underwritten using “rigorous credit standards and enhanced risk controls.” 

The CIRT program is part of Fannie Mae’s ongoing effort to reduce taxpayer risk by increasing the role of private capital in the mortgage market. Since inception to date, Fannie Mae has acquired approximately $19.2 billion of insurance coverage on $656.6 billion of single-family loans through the program.

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