Fannie Mae said Friday it offloaded much of the credit risk on $19.5 billion of mortgages to a group of insurers and reinsurers via two Credit Insurance Risk Transfer (CIRT) transactions.

The deals, CIRT 2016-1 and CIRT 2016-2 represent the largest cumulative CIRT transactions to date. The covered loan pools consist of 30-year fixed rate loans with loan-to-value (LTV) ratios between 60% and 80%.  The loans were acquired by Fannie Mae from December 2014 through April 2015.

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