Fannie Mae has obtained reinsurance for $510 million of credit losses on $20.4 billion of single-family residential mortgages through a pair of credit insurance risk transfer (CIRT) transactions.

The two deals, CIRT 2017-1 and CIRT 2017-2, are each linked to a pool of 30-year fixed-rate loans with loan-to-value ratios between 60% and 80%. The loans were acquired by Fannie Mae from January through July 2016. Both became effective Feb. 1.

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