FHFA's Confused Critique of Fannie and Freddie's Transfer of Credit Risk

Brief

FHFA's Confused Critique of Fannie and Freddie's Transfer of Credit Risk

Abstract

The Federal Housing Finance Agency recently released a withering critique of Fannie Mae and Freddie Mac’s credit risk transfer program, or CRT. In this brief, the authors explain why CRT has become important to the housing finance system and how FHFA's critique badly misses the mark.

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