Fannie Mae obtained reinsurance on $14.4 billion of residential mortgage through its Credit insurance Risk Transfer program.

The two deals, CIRT 2016-7 and CIRT 2016-8, shift a portion of the credit risk on pools of single-family loans with a combined unpaid principal balance of approximately $14.4 billion to a group of insurers and reinsurers. The covered loan pools for the two transactions consist of 30-year fixed rate loans with loan-to-value ratios of between 60% and to 80%. The loans were acquired by Fannie Mae from July 2015 through December 2015

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