Freddie Mac to sell first-loss position in new risk-sharing deal

It calls for 10% first loss credit risk to be shifted to the private sector. Fannie Mae generated a $10.1 billion gain before the payment of preferred dividends and Freddie Mac generated a $5.0.

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In conjunction with Arch Capital, Freddie Mac is selling mortgage insurance to provide credit enhancement for the first loss position on low down payment mortgages. According to a Freddie Mac spokesman, "IMAGIN is an alternative structure for lenders to obtain charter-compliant credit enhancement solutions and to bring additional sources.

Freddie Mac to debut ‘risk-sharing’ MBS. The mortgage finance giant has begun marketing a new product, dubbed Freddie Mac Structured Agency Credit risk (stacr) securities, designed to offload the first-loss piece of certain government-guaranteed MBS into the private capital markets.

In this position, Brickman oversaw all functions relating to Freddie Mac’s multifamily and CMBS investment and capital market activities. He is also the key architect behind several of the company’s innovative multifamily financing products, including the K-Deal securitization program.

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Freddie Mac to sell first-loss position in new risk-sharing deal When Arch Capital Group acquired United Guaranty Corp. last year from American International Group, one of the attractions was an innovative form of reinsurance modeled on risk-sharing programs.

Insufficient building coverage can result in a deal breaker. On the 2015 STACR transactions, Freddie Mac has retained no first loss risk." Data from the FHFA and KBW show investors purchasing these.

Freddie Mac holds the senior risk, which is unfunded and not issued. Freddie Mac may retain all or a portion of the first-loss piece. STACR notes have a 10-year final maturity for fixed severity transactions and 12.5-year final for actual loss transactions.

"Freddie Mac will continue to sell the first loss and mezzanine tranches while retaining a vertical slice of each tranche sold.". Freddie announced Monday that it intends to market its newest offering, STACR 2015-DNA1, on April 13.