Freddie Mac’s STACR Program Receives Prestigious RMBS Award

first_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Secondary Market Freddie Mac’s STACR Program Receives Prestigious RMBS Award Demand Propels Home Prices Upward 2 days ago June 12, 2015 1,109 Views Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago Tagged with: Freddie Mac Risk Transfer RMBS STACR Program Structured Agency Credit Risk The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Share Savecenter_img Previous: Presidential Candidates Urged to Address Housing Crisis on Campaign Trail Next: HUD Secretary Castro Says There Is Some ‘Agreement’ Between Parties on Housing Reform Freddie Mac Risk Transfer RMBS STACR Program Structured Agency Credit Risk 2015-06-12 Brian Honea Financial news and data service GlobalCapital has named Freddie Mac’s Structured Agency Credit Risk (STACR) offerings the RMBS Deal of the Year, according to an announcement from Freddie Mac.The RMBS Deal of the Year award is one of the premier capital markets awards recognizing issuers, investors, banks, and law firms that push securitization and help rapidly changing markets move forward, according to Freddie Mac. This was the second major award Freddie Mac’s STACR offerings have received in the last two years; last year, GlobalCapital’s parent company, Euromoney, honored STACR with the Global Structured Deal of the Year Award.”We are proud of our role in leading market innovations that return value to the nation and move housing forward,” said Kevin Palmer, VP of Credit Risk Transfer at Freddie Mac. “We created a new asset class with STACR that has brought a significant amount of private capital into the mortgage market and demonstrated the viability of multiple types of risk transfer transactions involving single-family mortgages.”Freddie Mac began the STACR program in the second half of 2013 as part of the Enterprise’s goal of reducing risk to taxpayers by increasing private capital’s role in the mortgage market. According to Freddie Mac, the GSE was the first agency to market credit risk transfer transactions with STACR and Agency Credit Insurance Structure and now features an investor base that includes more than 160 unique investors. The demand for STACR transactions has been growing steadily since the first one in 2013, and the recent STACR offerings were the first of their kind to sell first loss and actual loss risk, according to Freddie Mac.The STACR offering in late May priced at $425.6 million was Freddie Mac’s fourth this year and 13th overall. Freddie Mac has laid off a substantial portion of credit risk for more than $280 billion in unpaid balances on single-family mortgages through STACR transactions, according to the GSE. The enterprise has issued $10 billion in STACR bonds to date, representing reference pools of $292.6 billion through 13 issuances. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Freddie Mac’s STACR Program Receives Prestigious RMBS Award Sign up for DS News Daily Subscribelast_img