Fannie Mae said Thursday it obtained reinsurance on another $11.7 billion of residential mortgages through its Credit Insurance Risk Transfer of the year.
The deal, CIRT 2016-9, became effective Oct. 1. It shifts a portion of the credit risk on a pool of loans to a group of reinsurers. For the first time since the program’s inception, the covered loan pool consists of 15-year and 20-year fixed rate mortgages. Previous deals obtained reinsurance exclusively on 30-year fixed-rate mortgages.