Freddie Mac's credit risk transfers come with a hefty price tag, but are ultimately still worth it, according to Chief Executive Don Layton.

The government-sponsored enterprise has completed nearly $182 billion in credit risk transfers in which a portion of its credit risk is absorbed by a third party company either before or after the mortgages are closed. The interest and premiums the GSE pays on the transfers effectively reduced Freddie's guarantee income by roughly 33% for the transactions executed through Sept. 30.

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